England’s airport secures deal with Chinese carriers to boost UK-China trade

China

England’s airport secures deal with Chinese carriers to boost UK-China trade

2025-05-03 20:58 Last Updated At：21:37

East Midlands Airport (EMA) in central England has secured a major deal with Chinese cargo operators Central Airlines and YunExpress, to launch direct flights to the United Kingdom in May, enhancing trade opportunities between the two nations.

The new partnership positions EMA as a key logistics hub for UK-China trade. With its 24/7 operations and no flight curfews, EMA offers a significant advantage over larger airports like Heathrow, handling nearly 1.6 billion U.S. dollars' worth of imports and exports last year.

"East Midlands Airport is one of the most centrally located airports in the UK. So if you fly goods into East Midlands Airport for the UK market, they can be distributed around the UK to customers, very easily and very quickly," said Ioan Reed-Aspley, head of corporate affairs at East Midlands Airport.

The deal will see Central Airlines and YunExpress launch their first-ever flights to the UK, initially operating twice a week, with plans to increase to five scheduled arrivals. The agreement also includes the redevelopment of EMA's existing cargo facilities to handle growing demand.

This deal follows a precedent set by One Air, a UK carrier that relocated its operations from Heathrow to EMA over a year ago.

"Because we're looking at growing the business, bringing on scheduled services out to China," said Joe Batt, captain of One Air.

However, airport officials highlight that British firms are missing opportunities despite the growing volume of cargo. Many return flights to China remain empty, a gap EMA is working to address by offering more solutions for UK businesses seeking to expand trade with China.

EMA is also investing in a new tech zone to attract UK businesses, with plans for significant development in surrounding areas. One key site is Ratcliffe-on-Soar, home to the UK's last coal-fired power station, which closed last year and is being repurposed for logistics and manufacturing.

"The research we've done suggests that over the next 15, 20 years, we could see another 50 percent increase in the volume of goods coming through here. Advanced logistics and advanced manufacturing will hopefully attract the types of customers who need to get their goods very quickly, all around the world," Reed-Aspley said.

If successful, this strategic partnership could reshape the landscape of UK-China trade and create thousands of new jobs in the East Midlands region.

U.S. stocks close higher amid criminal probe into Fed chair Powell

U.S. stocks finished slightly higher on Monday, staging a late-session recovery as investors navigated a volatile landscape marked by a criminal probe into the Federal Reserve leadership.

The Dow Jones Industrial Average rose 86.13 points, or 0.17 percent, to 49,590.2. The S&P 500 added 10.99 points, or 0.16 percent, to 6,977.27. The Nasdaq Composite Index increased by 62.56 points, or 0.26 percent, to 23,733.9. Despite the positive close, the market experienced significant intraday turbulence, with the Dow dropping nearly 500 points at its session lows.

Nine of the 11 primary S&P 500 sectors ended in positive territory. Consumer staples and industrials led the gainers, rising 1.42 percent and 0.75 percent, respectively. Financials and energy were the primary laggards, declining 0.8 percent and 0.66 percent.

Market sentiment was initially shaken by an announcement on Sunday from Fed Chair Jerome Powell, who confirmed that federal prosecutors are investigating him over the Fed's multi-billion-dollar project to renovate its headquarters. Powell characterized the probe as an attempt by the Trump administration to compromise the Fed's independence.

Further weighing on the financial sector was a proposal by U.S. President Donald Trump to cap credit card interest rates at 10 percent for one year, which triggered a sell-off in banking stocks amid concerns over restricted lending and reduced profitability. Capital One shares plummeted 6.42 percent, while Citigroup, JPMorgan and Bank of America also recorded losses.

In contrast, retail giant Walmart led the Dow's advance, climbing 3 percent following news of its upcoming inclusion in the Nasdaq 100 index. The company also announced a strategic partnership with Google's Gemini AI to enhance the digital shopping experience.

Investors are awaiting Tuesday's release of the U.S. consumer price index for December 2025. Following last week's cooling labor market data, market participants increasingly expect the Fed to maintain interest rates at their current levels during the upcoming January meeting.