Chinese investment ranks 3rd in London

"China has become the third largest investor in London," said Paul Bromelow, the global sales director of London & Partners, the official foreign direct investment agency, Shanghai Securities News reported Friday.

At a ceremony for the establishment of the Beijing branch of London & Partners on June 16, Bromelow revealed China is a very important market for London and they would like to provide support for Chinese firms investing in the city.

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"In the past three years, the percentage of Chinese capital accounting for the total amount of foreign direct investment (FDI) in London increased from 2 to 7 percent. With the approaching of the 2012 London Olympic Games, the business opportunities related to the Olympics will boom for many international firms including the Chinese counterparts," he said.

He added that London is home to the largest number of information and communication technology talents in Europe, which can help Chinese companies to cut the costs of their overseas management and operations.

London Mayor Boris Johnson said "London is an extraordinary place of opportunity and without doubt the best big city to visit, study and invest in. We have some of the world’s greatest cultural attractions from our theatres to museums, some of the finest universities and colleges, and we offer unrivalled choice for those seeking to set up business. London is also a city which is undergoing transformation as we deliver new transport links and vastly improved public spaces. Together these initiatives are improving the city’s quality of life and making it a better place to live, work and visit.”

London & Partners is the official promotional agency for London, which combines the functions of Visit London, Think London and Study London, the agencies for promoting tourism, investment and education respectively.