Following Chancellor Philip Hammond’s two-day trip to China last week, it has been revealed that David Cameron will play a leading role in a UK-China investment initiative.
The BBC reported on Saturday that the former Prime Minister will take charge of the Belt and Road Initiative, a £750m fund to improve ports, roads and rail networks between China and its trading partners. Although the fund is formally backed by the Government, it will not involve any taxpayers’ money.
David Cameron, who has kept a relatively low profile since he left Downing Street last year, has been a strong advocate of increasing the UK’s trade with China. As Prime Minister, he championed what was known as the “Golden Era” of increased investment between both countries. A spokesman for Mr Cameron has said that “he wishes to play a role in a new UK-China bilateral investment fund that will invest in innovative and sustainable growth opportunities in both the UK and China to create jobs and further boost trade links.”
China hopes that the fund will improve and create trade links with other countries, especially by sea and rail, which will secure China’s position as an economic superpower.