Chinese and Indian companies seeking to expand internationally increasingly choose the City of London to further their ambitions. The London Stock Exchange has recently welcomed listings from major businesses in both nations. This is disclosed by the British Embassy in Beijing.

China, the world's fastest-growing major economy, is also well represented in London. Six major companies with a total market value of more than 6.1 billion pounds are listed on the main index, including giants such as Air China, the China Petroleum & Chemical Corporation and the Jiangxi Copper Company.

Another 19 companies from both nations are also involved in London's Alternative Investment Market (AIM) for smaller, growing businesses, with six new Chinese companies and two Indian concerns joining since January 2005.

Air China has listed on the London Stock Exchange's main market and on the Hong Kong stock exchange. The total capital raised via the dual listing in Hong Kong and London was about 1.08 billion dollars (558 million pounds) that will be used by the airline to expand its fleet of aircraft and for other infrastructure investments.

To mark the occasion of the airline's listing in London, Mr Shixiang Wang, vice-chairman of Air China, opened the day's markets, accompanied by Mr Zha Peixin, China's Ambassador to the United Kingdom, and Mrs Clara Furse, chief executive of the stock exchange.

In China, the UK is one of the largest investors with more than 3,400 UK-invested projects. If figures for Hong Kong are included, the UK is the largest European Union investor in China. Major UK companies with investments in China include Arup, BP, B&Q, P&O, Rolls-Royce and Tesco. Trade between the two nations has increased by more than 80 per cent in the last decade.

Last year was a record year for Chinese investment in the UK with 37 new investments. There are now some 370 Chinese companies investing in the UK, including 160 from Hong Kong.

By People's Daily Online