There is a golden opportunity to be seized in Asia I first visited China 20 years ago. Since then the Chinese economy has increased 15-fold. In a generation, China's middle class is forecast to be more than three times the size of that of the whole of Western Europe. It is precisely as Asian economies become richer that hundreds of millions of people will want to buy the things that British companies can sell them. They will buy modern medicines and branded goods from pharmaceutical firms such as AstraZeneca and GlaxoSmithKline. They will need insurance, banking, and accountancy services from companies such as HSBC, Prudential and Standard Chartered. And they will visit Britain as tourists, carried on Airbus wings and Rolls-Royce engines, joining us in celebrating the London Olympics and the Queen's Diamond Jubilee. The lesson of the past year has been that global confidence in a country depends on its determination to deal decisively with the challenges it faces. Britain has shown it is determined to do just that. We have taken the tough decisions to sort out our public finances; and we are doing what it takes to become one of the most competitive places to do business. To increase our reach in Asia, as part of this approach, the Government has refocused the Foreign Office and the work of UK Trade & Investment to reflect the importance of Asia to our economic strategy, including through the significant expansion of our diplomatic network in China. During my visit I will be promoting infrastructure as just one of the opportunities the UK brings for Chinese investors. Rebuilding Britain's older infrastructure is integral to our remaining competitive. But perhaps the most interesting and exciting development concerns the Chinese currency - the Renminbi. While in Hong Kong, I will be announcing the launch of a joint private sector forum, with the Hong Kong Monetary Authority, to promote closer cooperation between the London and Hong Kong financial centres on the development of a global offshore market for the Renminbi (RMB). I want to position London as a hub for the RMB market, with the huge opportunities this brings for Britain. Total trade in China settled in RMB increased from just 0.7 per cent in the first half of 2010 to 9 per cent in the first half of 2011. There is scope for substantial expansion of the RMB market in the coming years, and London's position as one of the world's leading financial centres makes it perfectly placed to play this role. For the UK, this would be a boost both to business and jobs across the country. Our common economic interests present an opportunity for Britain and Asia to work together, through the G20, to defeat the forces of protectionism in all its guises. We need to look at new and innovative alternative approaches to taking forward trade liberalisation. In the EU, we will continue to push ahead with ambitious free trade deals with India and Singapore this year, as well as maintaining momentum towards an ambitious agreement with Japan. At the same time, we need to ensure that a reformed and more representative IMF has the tools and resources to do its job. The capacity of the IMF may also need to rise to ensure those risks can be addressed, but this cannot be a substitute for action by the eurozone. Britain stands ready to play its part alongside the major Asian economies. In the year that we welcome the world to the best Olympics ever, and as we celebrate the Diamond Jubilee, let's ensure the world sees a Britain bold, decisive and optimistic about its ability to compete in the world. I know that in Britain, the jobs of the future depend on our ability to make the most of the opportunities that Asian markets present. A strong relationship with Asia is a central part of the Government's economic strategy - moving from an economy built on debt, to a new, balanced economy where we save, invest and export. There are huge opportunities for Britain all over the world. Let's seize them.