With less than a year to go until Brexit happens, and uncertainty over trade with the EU , it seems that one group who are happy to invest in the UK are the Chinese.
Charles Filmer, partner and head of private office at LJ Partnership, told the Financial Times: “Brexit just isn’t a topic that is discussed. It doesn’t make any difference at all”.
People from mainland China took 116 of the 355 “investor visas” granted in 2017 by the UK Home Office to wealthy individuals, this was up 56 per cent from the previous year.
The Chinese outnumbered Russians, the next biggest recipients in the investor visa scheme, by 250 percent.
LJ Partnership, a London based investment firm, said that some of the richest Chinese now make up just under one third of all applicants for the visa.
Sam Lawson Johnston, Director at LJ Partnership, said: “Chinese investors are looking past the short-term political instability of Brexit and see the current climate as a good buying opportunity”
Other sources have said that many Chinese investors see the slight softening of prices in the UK as an opportunity for the longer term.
Data from Baker McKenzie, saw total Chinese investment into Britain reach $20.8bn in 2017, more than double the previous year’s total of $9.2bn.
Xu Weiping, chairman of Advanced Business Park, which is constructing a $2.5bn real estate development in London, said: “Brexit will mean that the UK needs China more as a trade partner.
“After Brexit, it is most likely that UK and China will have their own bilateral trade agreement. This is for sure.”