Hammond 'aware of risks' over trading with China but presses on

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The chancellor says the UK’s open trading economy needs inward investment

Britain is aware of the risks facing sensitive areas of the economy from greater levels of Chinese investment, Philip Hammond has said, as London forges closer economic ties with Beijing despite US concerns.

Speaking after a joint economic summit between Britain and China in London that is set to open up deals for companies in the two countries worth more than £500m, the chancellor said he welcomed the closer cooperation.

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