1 of 3 | Protesters demonstrate against Chinese President Xi Jinping's meeting with British Prime Minister David Cameron at No.10 Downing St. in London on Wednesday. Xi is on a four-day visit to the United Kingdom for trade and cultural talks. Photo by Hugo Philpott/UPI |
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LONDON, Oct. 21 (UPI) -- China and Britain reached a landmark agreement to invest in a British nuclear power plant during Xi Jinping's state visit, an event marked by several other developments that included a conversation between the Chinese president and Queen Elizabeth II on Hong Kong.
British Prime Minister David Cameron and Xi confirmed the Hinkley Point nuclear agreement at a news conference Wednesday, the BBC reported. Britain's EDF Energy said the cost of the plant would be $27.8 billion, and state-owned China General Nuclear Power Corp. would pay about $9.3 billion, or one-third, of the costs.
British Prime Minister David Cameron had said in a statement released Tuesday the two countries are working to see that more than $46.4 billion in trade and investment deals are completed during Xi's visit. The deals could create more than 3,900 jobs in Britain, according to Cameron. On Wednesday, the British government said 25,000 jobs would be created through the Hinkley agreement, and enough energy to power 6 million homes would be supplied through the plant.
Opponents of the deal have said security is an issue if China is allowed to take a key role in Britain's nuclear power operations, but others defended the policy, including Lord Sassoon, chairman of the China Britain Business Council.
China plays a key role in Britain's retail economy, and the government has decided to lower the cost of tourist visas for Chinese nationals. Visas that currently cost $500 are to be lowered to about $130, effective January. South Korean news agency Yonhap reported Chinese tourists spent an average of $4,140 per visit.
While economic concerns remained a top priority for both countries, restrained discussions of politics did occur Wednesday. The Telegraph reported Xi told reporters that there is "room for improvement" for China's human rights record, and that "China is ready to increase cooperation with [Britain] and other countries over human rights."
In a discussion on Hong Kong, Queen Elizabeth II told Xi that former leader Deng Xiaoping's "One country, two systems" approach to Hong Kong had the kind of insight that led to Britain's decision to return Hong Kong to China in 1997, China Youth Daily reported.
The queen's remarks are believed to be an indirect reference to protests in Hong Kong over increased interference from Beijing.
