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World

Britain's May says wants strong China ties

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World

Britain's May says wants strong China ties

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COMING UP:Britain's May says wants strong China ties

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00:00:00
>> Taking a time out in the Alps to reflect on her new job and how to navigate trade relations, British Prime Minister Teresa May has written to China's President premier seeking to enhance trade and cooperation. The letter, an olive branch perhaps, after May's government delayed an 18 billion pound nuclear power project in part due to security concerns over Chinese financing.
00:00:24
Reuters utility correspondent Harrat De Clark is following the story from Paris.>> What we can safely assume is, this will be an exercise in mending relations, and especially saving face for the two sides. I mean, don't forget only about a year ago Prime Minister Cameron wrote to Chinese Premier, Xi Jinping to UK for big ceremony about Hinkley point.
00:00:52
So it's not a decision that was taken lightly.>> China has a 33% stake in the proposed Hinkley project being developed by French utility EDF. Its ambassador has all ready warned the UK that the two countries are at a crucial historical juncture. Writing in the FT in early August he hinted that mutual trust could be in jeopardy if May's Government block the deal.
00:01:16
>> China is one of the most important countries in terms of both investment in Europe but also foreign investment from Europe into China. A lot of their major companies in Britain have large part of their business in China.>> In her letter to President Xi Jinping, May says, she's looking forward to next month's G20 Summit in China.
00:01:39
That meeting's certainly a test of relations with Beijing, just months after May's predecessor David Cameron hailed a new golden era for ties. The fate of Hinkley Point could decide if that era is very short lived.