Chinese firms keep UK auto industry ticking

British workers are operating a newly-invested machinery at Covpress, which owned by Shandong Yongtai Chemical Group Co., a privately-owned Chinese manufacturer from Shandong province. [Wang Mingjie/China Daily]

You from Shandong said in July that the company will invest a further 15 million pounds to support the firm's continued growth and stay on top of the demand.

"We have exciting plans. Over the next two years, specific plans are already in place to inject further investment to modernize and expand the Covpress facility," You said.

"This will add much needed capacity and create more career opportunities."

Its latest investment plan will increase the workforce from about 550 to more than 700 in the next two years, making Coventry one of UK's largest private sector employers.

Such efforts have also been welcomed by the local populace.

Kit Halliday, joint CEO (Europe) for Covpress, said he believes that Chinese companies will not change the existing corporate culture and management strategy.

"The perception that Chinese investment in the UK is to overhaul the UK corporate culture and management code with a Chinese mentality is utterly false. There might be some apprehension at the start of the merger, but when business picks up, along with the creation of more job opportunities, everyone is happy," Halliday said.

Zhou from the Chinese embassy said: "The business communities from both China and the UK are keen to work together. The partnership serves to benefit both the UK economy and China's privately owned businesses' expansion abroad."