Wales-China links raise job hopes

Rhodri Morgan at trade negotiations with the Chinese

Hopes of attracting more high-technology Chinese investment into Wales have been boosted with two deals which have been unveiled in Swansea.

Chinese firm Golden Prosperity has announced it will set up a research and development operation in the city.

The Welsh Assembly Government hopes it will be the first of several firms to use its business incubator units as part of the Technium scheme.

A new China-UK business alliance was also launched.

The link will see the Swansea Technium working in partnership with Shanghai's Fudan Science Park.

The programme is designed to help Fudan-based technology companies break into the UK and European markets, using Wales as a gateway.

As part of the deal, Welsh firms will have use of facilities on Fudan Science Park if they wish to assess the Chinese market.

[Technium] provides a dedicated platform for high growth Chinese firms to establish and grow their European operations Economic Development Minister Andrew Davies

The double deal follows Mr Morgan's trade mission to China in September.

"The partnership between Fudan Science Park and Technium is part of the long term strategy to attract high value, high-technology companies from China," said Mr Morgan.

"Fudan Science Park had chosen Wales, above all options, as the location for its first UK satellite operation."

Golden Prosperity will create five jobs at Technium as part of its work researching and developing electronic materials for high-end technical applications.

In the long-term, the company hopes to establish a manufacturing plant in Wales.

Economic Development Minister Andrew Davies said the Technium programme was "an attractive proposition for companies looking to target the European market".

"It provides a dedicated platform for high growth Chinese firms to establish and grow their European operations," he said.