On 23 June, Ambassador Zheng Zeguang visited Todd & Duncan, producer of cashmere yarn based in Perth and Kinross, Scotland. Ambassador Zheng was briefed via video link by Shen Jianhua, Chairman of Xin'ao Textiles Zhejiang China, the parent company of Todd & Duncan, and toured the yarn production plant accompanied by Iain Cormack, Managing Director of T&D.

Talking about the recent development of the cashmere yarn producer, Mr. Shen and Mr. Cormack said that since Xin'ao’s investment, both sides have given full play to their respective advantages in material supply, product development and sales, and have continued to optimise the production and further expand the market, with plans to gradually enlarge the production capacity. The success of the project has been a great contribution to the local economy including employment and tax revenue.

Ambassador Zheng said that Xin'ao’s acquisition of Todd & Duncan is a good example of win-win cooperation, which showcases the broad prospect of practical cooperation between China and the UK. He wished Todd & Duncan a even greater success in the future.