The Sino-UK cooperation in building Smart Cities is expected to gain steam when Future Cities Catapult (FCC), one of the UK’s leading platforms for urban innovation, signed a memorandum of understanding (MoU) with China.
“We will use the partnership to make it easier for both British and Chinese enterprises to invest in and get involved in the Smart City market in their respective countries,” said Ivory Wells, the Global Partnerships Manager at FCC.
The FCC signed the MoU with the country’s leading agency in urban development, China Centre for Urban Development during China Smart City Innovation Conference.
The Sino-UK cooperation in Smart City began two years ago when Bristol built a partnership with Guangzhou. Last year, Manchester tied a relationship with Wuhan.
The two partnerships aim to share UK’s expertise and experiences in building Smart Cities with China, according to John K Davies from UK Trade and Investment.
Li Tie, Director of China Centre for Urban Development said the MoU would help China shift from the old government-driven development model to a user-oriented and market-driven one.
In the fast urbanization drive, China has released guidelines for building of Smart Cities, which includes an intelligent transportation system. The cumulative investment is likely to be $309 billion by 2025, fuelled by massive State-sponsored urbanization projects.