HONG KONG: Former British prime minister David Cameron is to lead a billion dollar trade and investment fund between UK and China.
Cameron will take charge of the £750 million fund to improve ports, roads and rail networks between China and its trading partners.
The chancellor, Philip Hammond, announced the fund and Cameron’s role during an official trade visit to China. It forms part of a series of commercial deals worth £1.4bn.
The private fund is supported by the British government, but no taxpayers’ money will be involved. The Advisory Committee on Business Appointments (Acoba), which considers positions taken up by former ministers, signed off on Cameron’s role.
A spokesman for Mr Cameron said he was “very proud of his work launching the golden era between the UK and China with President Xi” and his efforts to strengthen bilateral trade and investment while in office.
The fund will work on China’s multibillion-pound Belt and Road initiative, which aims to create an economic corridor linking the country with its trading partners to the west.