David Cameron takes charge of $1bn investment initiative
Ex-Prime Minister David Cameron has been appointed to lead a new investment initiative between the UK and China.
The £750m fund is aimed at improving transport links between China and its trading partners. It is part of the ‘Belt and Road Initiative’ first unveiled in 2013, and boosted this year when China's President Xi Jinping pledged £96bn ($124bn) for the scheme.
The announcement follows Chancellor Philip Hammond’s two-day visit to China. Mr Hammond has been in the country for the 9th UK-China Economic and Financial Dialogue.
A statement from the Treasury yesterday described a “new phase in Golden Era for UK-China relations”.
It is Mr Cameron’s first official political role since he resigned as Prime Minister following the EU referendum last year.