London Base for China's $200 Bln-Fund

U.K. Prime Minister Gordon Brown has offered London as an overseas base for China's $200 billion sovereign wealth fund, aiming to encourage the world's fastest- growing major economy to invest in Britain.

Video > What are sovereign funds?

The economy of the world's most populous nation overtook the U.K. in 2005, and Britain's trade with China may grow 50 percent to $60 billion by 2010, according to a goal set today by Brown and Chinese Premier Wen-Jiabao.

"We can now sell China not just financial services, but also a whole range of British brands that are becoming very popular among the Chinese consumers," Brown said at a press conference during his first China trip as prime minister.

Via Bloomberg

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