The leader of Britain's second biggest city, Birmingham, Tuesday signed an investment deal worth up to 2.7 billion U.S. dollars signed with a major Chinese development company.
The city council in an official notice said its leader Councillor John Clancy has signed a Joint Statement of Investment Commitment with Country Garden. It will initially see the Guangdong-based company explore large scale investment opportunities in Birmingham city region area with particular focus on regeneration and investment options related to the HS2 (high speed rail) project.
It will also see the two partners work jointly to find areas of collaboration with regard to delivering significant new housing stock in Birmingham city and the surrounding area.
Clancy is currently on a week-long trade mission to China, where he is looking for big-money investors to build houses and create jobs across the city, said a council spokesman.
Declaring that "Birmingham is Open for business", Clancy said: "The landscape has inevitably changed post-Brexit and Birmingham is already out of the starting blocks... This agreement is about bringing good jobs and quality homes to Birmingham."
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