China and the UK are planning a 10 billion yuan ($1.51 billion) fund for the Belt and Road (B&R) initiative, Bloomberg reported on Wednesday.
The report said that the two governments are considering starting a joint-venture fund for investments in the initiative, especially in areas such as infrastructure, agriculture and high-tech industries. The two sides are also reportedly initiating a feasibility study about a bond connect scheme, and the UK Treasury is considering issuing Panda bonds in China.
China and Britain will hold their 9th economic and financial dialogue in Beijing from Friday to Saturday, Lu Kang, spokesperson for the Ministry of Foreign Affairs, said on Tuesday.
Chinese Vice Premier Ma Kai and British Chancellor of the Exchequer Philip Hammond will co-chair the dialogue, Xinhua reported.
