New positions in both the UK and China could be created and others safeguarded through trade pacts between the two countries.

British prime minister David Cameron has been playing host to Chinese premier Wen Jiabao in order to finalize details of the agreements, which cover areas such as civil engineering, food and research and development.

Under the £1.4 billion worth of bilateral trade commitment, UK businesses could gain substantial amounts of new business and the two countries have reaffirmed a goal of doubling the value of trade between them by 2015.

Talks at Downing Street resulted in an announcement by Mr Cameron that the pacts had been signed and he declared that the deals with China offer a "huge opportunity" for the UK.

"We should show each other respect," the UK prime minister stated. "But we're clear that political and economic development should go hand in hand."

China Daily reported that Richard Attias, former producer of the World Economic Forum, recently hosted the second New York Forum, which examined how the Chinese jobs market has expanded so rapidly in recent years.

Posted by Lee Thrace