Cameron says China's Wanda to invest up to $5B in UK

Dalian Wanda’s Wang Jianlin

Dalian Wanda, the property developer headed by China’s richest man, plans to invest up to 3 billion pounds ($5 billion) in regeneration projects in Britain, Britain’s prime minister said on Friday.

Prime Minister David Cameron unveiled the investment after meeting Dalian Wanda’s chairman Wang Jianlin in Davos this week. It comes after Cameron led the largest-ever British mission to China last December that involved about 100 business people.

“When I met Chairman Wang Jianlin during my recent trade visit to China, I encouraged him to make further investment into Britain. So I’m delighted that Wanda has decided to invest 2-3 billion pounds in regeneration projects so soon after my visit,” Cameron said.