[originaltext]A link which exists between London and Shanghai is a Memorandum o

A link which exists between London and Shanghai is a Memorandum of Understanding which was signed in May by the corporation of London and Shanghai Municipality during the visit to London paid by the Mayor of Shanghai, Mr. Xu Kuangdi. I understand that a further step was taken at the beginning of September when, during the visit of the Lord Mayor of London to Shanghai, a further document was signed. (16)The purpose of this co-operation is to encourage the two cities to exchange experiences of running an international financial center and also to encourage practitioners and bankers from both sides to develop business links.
As the focus of this seminar is investing in Shanghai, I should say a few words about Britain’s track record in investing in China and in Shanghai in particular. In terms of investment in China as a whole, it is well-known that (17)Britain is the largest European investor—with our total investment amounting to more than that of Germany and France put together. Shanghai itself has attracted more British investment than any other center in China. British joint ventures in the city include those entered into by Pilkington, Unilever, GPT, Abacus Municipal and Courtaulds. And there are many more.
But there is no room for complacency. During his visit to Britain in May the Mayor of Shanghai, Mr. Xu Kuangdi, reminded British businessmen that although we may be the top European investor, our percentage of the total foreign investment in Shanghai is still small. (18)Foreign investors have so far committed no less than US $16 billion in Shanghai, of which only US $1.7 billion is British! I suppose the moral of that story is that we must try harder!
Questions 16 to 18 are based on the passage you have just heard.
16.What’s the purpose of this co-operation?
17.Which country is the largest European investor in China?
18.What’ s the total volume of foreign trade in Shanghai?