UK Ex-Envoy Forecasts New Contracts During Xi's 'Golden Age' Visit

© Host photo agency / Go to the mediabankPresident of the People’s Republic of China Xi Jinping
President of the People’s Republic of China Xi Jinping - Sputnik International
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Chinese President Xi Jinping’s first visit to the United Kingdom in a decade ushers in a "golden age" of bilateral relations with a number of anticipated contracts, former British ambassador to Russia told Sputnik on Tuesday.

President Xi Jinping of the People's Republic of China - Sputnik International
Chinese Leader Arrives in London for Official Visit - Reports
MOSCOW (Sputnik) – "There’s lots of enthusiasm in government to build up the relationship and to have a close and strong relationship with China," Tony Brenton said, evoking Prime Minister David Cameron calling the visit a "new golden age."

Brenton, who served as Britain’s envoy to Moscow in 2004-2008 and is an adviser to Lloyd’s insurance market, said he expected "big announcements" during Xi’s visit four-day stay.

"The City, a major financial center, wants to become a center for trading in the Renminbi [Chinese official currency colloquially known as the yuan] in Europe and in the world," Brenton said.

The ex-diplomat highlighted Chinese investment in the British nuclear industry, which raised concerns among experts last week.

A nuclear reactor and related factilities as part of the Taishan Nuclear Power Plant, to be operated by China Guangdong Nuclear Power (CGN), is seen under construction in Taishan, Guangdong province - Sputnik International
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Defense and security officials have offered a contrast with their cautious view of a possible contract for two Chinese companies to purchase stakes in a British nuclear power station in southwest England.

China General Nuclear Corporation (CGN) and China National Nuclear Corporation (CNNC) are said to be vying to finalize a deal to buy up to 40 percent of Hinkley Point’s stake, valued at $24.23 billion during Xi’s October 20-23 visit to Britain.

China is boosting efforts to internationalize its currency in an effort to join the International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket.

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