UK-China relationship to grow alongside trade
Chairman Emeritus of Linklaters, Robert Elliott, will this week address the UK-China Economic and Financial Dialogue, outlining opportunities in project financing as part of One Belt One Road (OBOR) initiative.
“We are committed to promoting the understanding of One Belt One Road initiative as a development policy. The opportunities it provides to the region and the world economy are immense,” he said.
“Due to the vibrancy of the economic relationship between the UK and China, we see bilateral relations only strengthening,” Mr Elliott said.
OBOR is the Chinese Government’s imaginative economic development policy for the Asia region and into the Middle East, Eurasia and Africa.
As the leading international legal adviser on OBOR, Linklaters is providing legal advice essential to the implementation delivery of complex and multi-jurisdictional deals.
“Chinese outbound M&A, underpinned by OBOR, is one of the major growth opportunities in global legal services at present. We are seeing first-hand the economic effect of OBOR, which is transformational in building vital infrastructure regionally. There are immediate opportunities in project financing and there is demand for innovative solutions in these complex mandates. As the Chinese economy transitions from its traditional exporting base, outbound M&A is essential to the economic future of China and the world.”
OBOR is facilitating important infrastructure projects, such as the provision of reliable power supply in developing economies and in regions of need. One example is the Thar Block II coal mine and associated coal-fired power plant, Pakistan, where Linklaters advised the Chinese and Pakistani lenders on the project financing in a major transaction.
“Our transactional record as part of OBOR initiative puts the firm in a leading position in this area,” Mr Elliott said.
Mr Elliott said the firm’s relationship with China is strong and multi-faceted, with the firm advising on many matters which are part of China’s economic advance and its integration with world financial markets.