Cameron argues GSK case in China


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With the UK Prime Minister on their side- is it really that surprising that GSK get away with breaking laws, morals and ethics in the UK?

http://www.cnbc.com/id/101240561

Cameron argues GSK case in China

Published: Monday, 2 Dec 2013 | 6:51 PM ET

By: Kiran Stacey

David Cameron has complained to his Chinese counterparts about their treatment of GlaxoSmithKline, the U.K. drugs company that has found itself caught in the center of a storm over allegations it bribed Chinese doctors to sell its medicines.

The prime minister raised the issue during meetings with China’s top politicians in Beijing on the first day of a three-day trade mission to the country.

(Read moreGSK’s China sales topple on bribery scandal)

A Number 10 official said: “The prime minister discussed British business interests in China and the need for them to think China is a secure and stable environment for them to operate in.”

GSK’s medicine and vaccine sales in China have dropped 61 percent since the summer, following the high-profile corruption probe launched by Beijing into the pharmaceutical company’s alleged business practices.

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Sir Andrew Witty, GSK chief executive, is among a 127-strong business delegation travelling with Mr Cameron on a trip intended to boost U.K. economic ties with China and draw a line under a period of diplomatic tensions between the countries.

After talks with Premier Li Keqiang, Mr Cameron trumpeted Britain’s openness to Chinese investment and vowed to lead the push for an EU-China trade deal.

“Some in Europe and elsewhere see the world changing and want to shut China off behind a bamboo curtain of trade barriers. Britain wants to tear those trade barriers down.”

(Read moreUS prosecutors add China bribery allegations to GSK probe)

Premier Li used a joint news conference in Beijing to raise the possibility of Chinese investment in the U.K.’s plan for a £50 billion high-speed rail line from London to the north of England, in addition to existing plans to invest in U.K. nuclear power.

“The two sides have agreed to push for a breakthrough and progress in co-operation in the areas of nuclear power and high speed railway,” said Mr Li.

“Just like high speed trains, we need to grow this relationship at a faster speed.”

The form of any Chinese investment in HS2 is as yet unclear, but British officials stressed there would be no direct investment in the construction phase of the line, which is due to be funded by the taxpayer. This leaves open the possibility of the Chinese bidding for the concession to run HS2 or investing in peripheral schemes around the route such as developments around stations when the route opens in the 2030s.

The move could prove controversial, deepening Chinese ownership of British infrastructure projects. The UK’s first nuclear power station to be built in a generation was agreed to last month, with the backing of EDF, the French energy company, and various Chinese investors.

The visit is his first to China since November 2010, and the first since the current regime took over in November 2012. British ministers had until recently been refused meetings with their Chinese counterparts after the prime minister met the Dalai Lama in London in May 2012.

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