The Chinese manufacturer of the Labubu toy will expand its business in the UK
A statement from the UK Prime Minister's Office, following Keir Starmer's visit to China, stated that POP MART, the Chinese producer of the trendy toy Labubu, will expand its business in the UK and open a regional center in London.
Previously, Starmer led a delegation consisting of several ministers and dozens of senior representatives from British companies to visit China, marking the first visit by a UK prime minister to China in eight years. During the visit, both sides signed 10 trade and cooperation agreements covering multiple fields.
Downing Street said in a statement: "The Chinese trendy toy brand POP MART - the producer of the popular Labubu toys - has confirmed plans to establish a regional center in London. Next year, the company will open 27 new stores across Europe, including up to seven in the UK, creating more than 150 jobs."
In addition, the Chinese commercial vehicle company Chery will set up its European headquarters in Liverpool, and the Chinese battery manufacturer Hengtai Energy will invest 200 million pounds to build energy storage facilities in the UK.
During the visit, both sides also signed agreements on the British management body of the World Snooker Tour hosting snooker events in China, as well as Brompton, a British bicycle manufacturer, expanding its sales in China.
Additionally, both sides signed agreements to increase freight flights from Glasgow Prestwick Airport to China, and to expand the business of British biotechnology, engineering, and other industry companies in China.
It is reported that the total value of the trade agreements reached by both sides amounts to 2.2 billion pounds.
Original article: toutiao.com/article/1855850087777292/
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