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International Trade Secretary, Dr Liam Fox, travels to China today (Tuesday 2 January), in his first international visit of the new year to advance the UK’s trade and investment relationship.

In a 2-stage visit to Beijing and Shenzhen, Dr Fox will meet the Chinese Minister of Commerce Zhong Shan and the chairman of one of the world’s largest insurance companies, Ma Mingzhe from Ping An. He will also promote the government-backed GREAT ‘Festival of Innovation’ taking place in Hong Kong later this year to showcase the latest technology from the UK and Asia.

China is the UK’s fifth largest trading partner in the world, with trade between the countries worth £59.1 billion based on the latest figures (2016). In the same period the UK exported £16.8 billion of goods and services, making China the UK’s eighth largest export market.

The Department for International Trade has also just announced up to £25 billion in financial support – including loan guarantees – for UK businesses operating along the Belt and Road Initiative (BRI). The initiative, set up by the Chinese government, aims to increase economic cooperation with countries around the world along key transport routes.

International Trade Secretary, Dr Liam Fox said:

China as a world leading economy and the UK’s fifth largest trading partner is an important market for British companies as we look to build independent trading relationships across the world.

As an international economic department, we want 2018 to be the year of exporting with businesses across the UK seizing the opportunities that the world provides.

That’s why we’re determined to make exporting even easier, and we have announced we’re making up to £25 billion of funding available for UK exporters and buyers of UK goods and services along the Belt and Road Initiative so that no viable export fails for a lack of funding.

The Trade Secretary’s visit follows the Economic Financial Dialogue in China last month (December 2017) where more than £1.4 billion of trade and investment was agreed in Beijing. Trade Minister Mark Garnier supported the Chancellor as they reaffirmed their commitment to developing a global partnership, establishing the next steps for a deeper trade and investment relationship as the UK builds an economy fit for the future.

The UK has also attracted more foreign direct investment projects than ever before (year 2016 to 2017). With 2,265 projects recorded, figures show an increase of 2% on the previous year. This means more than 75,000 new jobs were created, and 32,600 safeguarded, amounting to over 2,000 jobs per week across the country.

Further information

Total trade in goods and services (that is exports plus imports) between the UK and China totalled £59.1 billion in 2016 an 8.9% increase from 2015 (Source: ONS Pink Book 2017).

In 2016, UK exports to China amounted to £16.8 billion (a 2.4% increase from 2015).

The top 5 UK goods exported to China in 2016 were:

87 – vehicles other than railway or tramway stock (27.6% of all UK goods exported to China)

27 – mineral fuels or oils, products of their distillation (12.1%)

84 – machinery and mechanical appliances (10.5%)

85 – electrical machinery and equipment (6.8%)

71 – precious stones and metals (6.5%)

In the dataset, you can find the date of sale for each property, its full address and sale price, its category (residential or commercial) and type (detached, semi-detached, terraced, flat or maisonette and other), whether it is new build or not and whether it is freehold or leasehold.

The number of sales received for registration by property type and month

Of the 106,412 sales received for registration in November 2017:

• 79,133 were freehold, a 10.3% increase on November 2016
• 13,095 were newly built, a 5.2% increase on November 2016

There is a time difference between the sale of a property and its registration at HM Land Registry.

Of the 106,142 sales received for registration, 30,458 took place in November 2017 of which:

• 489 were of residential properties in England and Wales for £1 million and over
• 293 were of residential properties in Greater London for £1 million and over
• four were of residential properties in Greater Manchester for £1 million and over
• one was of a residential property in Cardiff for £1 million

The most expensive residential sale in November 2017 was a semi-detached property in the London Borough of Kensington and Chelsea for £13m. The cheapest residential sale in November 2017 was of a terraced property in Burnley, Lancashire for £15,000.

The most expensive commercial sale in November 2017 was in Solihull, West Midlands for £73,900,000. The cheapest commercial sales in November 2017 were in Islington, Cambridge, Fenland, Redbridge and Southend on Sea, each for £100.

Access the full dataset.

Notes to editors

1. Price Paid Data is published at 11 am on the 20th working day of each month. The December dataset will be published on 29 January 2018.
2. A total of 65,000 duplicate cancelled sales transactions (less than 0.003% of the total) have been removed from the October 2003 – February 2005 data. We are committed to the accuracy of our data and will continue to respond to customer feedback.
3. Price Paid Data is property price data for all residential and commercial property sales in England and Wales that are lodged with HM Land Registry for registration in that month, subject to exclusions.
4. The amount of time between the sale of a property and the registration of this information with HM Land Registry varies. It typically ranges between 2 weeks and 2 months. Data for the two most recent months is therefore incomplete and does not give an indication of final monthly volumes. Occasionally the interval between sale and registration is longer than 2 months. The small number of sales affected cannot be updated for publication until the sales are lodged for registration.
5. Price Paid Data categories are either Category A (Standard entries) which includes single residential properties sold for full market value or Category B (Additional entries) for example sales to a company, buy-to-lets where they can be identified by a mortgage and repossessions.
6. HM Land Registry has been collecting information on Category A sales from January 1995 and on Category B sales from October 2013.
7. Price Paid Data can be downloaded in txt, csv format and in a machine-readable format as linked data and is released under Open Government Licence (OGL). Under the OGL, HM Land Registry permits the use of Price Paid Data for commercial or non-commercial purposes. However, the OGL does not cover the use of third party rights, which HM Land Registry is not authorised to license.
8. The Price Paid Data report builder allows users to build bespoke reports using the data. Reports can be based on location, estate type, price paid or property type over a defined period of time.
9. HM Land Registry is a government department created in 1862. It operates as an executive agency and a trading fund and its running costs are covered by the fees paid by the users of its services. Its ambition is to become the world’s leading land registry for speed, simplicity and an open approach to data.
10. HM Land Registry safeguards land and property ownership worth more than £4 trillion, including more than £1 trillion of mortgages. The Land Register contains more than 25 million titles, which show evidence of ownership, covering more than 85% of the land mass.
11. For further information about HM Land Registry visit www.gov.uk/land-registry.
12. Follow us on:

• Twitter @HMLandRegistry
• our blog
• LinkedIn
• Facebook

Contact

The SatelLife Challenge, now in its second year, is looking for innovative proposals from those aged 11 to 22 which have the potential to use data collected from space to benefit our economy, health or the environment.
Ideas from last year’s competition ranged from solutions to help increase the survival rate of heart attack victims by using GPS trackers in fitness devices, to an app that warns people about impending natural disasters, guides them safely away and alerts emergency services.

Satellites support the economy and everyday life, and this competition gives young people the chance to test their ideas with industry experts and perhaps one day become part of the fastest growing sector of the UK economy.
The UK space industry builds 40% of the world’s small satellites and 25% of the world’s telecommunications satellites. It supports 40,000 jobs and generates £14 billion in revenue across the country.

Science minister Jo Johnson said:

“Satellites are shaping our society and increasingly important for our economy. Every second they send information around the world, keep shipping lanes and flightpaths clear and help us get to where we want to be.

“Young people today will be an integral part of our mission to grow the UK’s share of the global space market to 10% by 2030, as set out in our industrial strategy. We need to ensure the potential benefits of space are felt across the whole economy and encourage young British entrepreneurs to develop ideas that rival the best in the world.”

The overall winner in 2017 was James Pearson from Lincolnshire, who came up with an app to provide information on coastal flood risks, went on to meet British ESA astronaut Tim Peake and is using his prize money to develop his idea.

James Pearson, 14, said:

“The competition was absolutely amazing for me. It has opened my eyes to the opportunities that are around us. I have really had to push myself to learn new things. The highlights included meeting Tim Peake but also the industry experts. So far I have continued to get my website operational, I’ve been scanning the satellites for more images and I’ve increased my computing power. I will continue to work hard until the website is complete. I have really enjoyed this competition as it has developed my confidence, I was thrilled to win and just to learn about the space industry and technology.”

The competition, which aims to support the development of science, data handling and technological skills, is split into three age groups, with overall prizes of £7,500 for the best individual and best team. A further seven entries from across the age categories will win £5,000, making a total prize fund of £50,000. The judging panel will be made up of experts including representatives from the UK Space Agency, the European Space Agency, the Satellite Applications Catapult in Harwell and industry.

Adina Gillespie, Head of Applications for Earth Observation and Science, at Surrey Satellite Technology Ltd (SSTL), one of the expert judges, said:

“The SatelLife competition is a great initiative to encourage young people to think about satellite applications and consider future careers in the space industry – and we have a lot of fun along the way.”

Entries can be as teams or individuals and all prize winners will be able to pitch their idea to a panel of ‘dragons’ from the space sector who will offer prizes. In 2017 the competition winners were offered a mix of support including an offer to build a prototype, thousands of pounds worth of space on Amazon Cloud Services, access to data, business development advice and a visit to a satellite factory.

The competition closes on 25th February. Visit the SatelLife Challenge entry page for more information.