A CHINESE company has become the first client in residence at the International Business Centre in Gateshead.

The China Business Company has pitched its headquarters in Gateshead to take advantage of the centre's high-quality business support infrastructure. The company has been set up to recruit Chinese students to regional universities and colleges.

"We have been given all the vital support necessary to establish a base in the region," said Peng Yaoxin, managing director of China Business Company. "The North-East of England is an attractive and thriving location. We are looking forward to growing our business by promoting the area and its local colleges to prospective students seeking overseas academic experience."

A joint initiative between Gateshead Council and regional development agency One NorthEast, the International Business Centre was set up to attract investment from overseas. It allows international investors to exploit European market opportunities with low-cost, low-risk packages, and the support of an on-site advisory team.

China Business Company originates from the city of Dalian on the coast of North-East China and is a subsidiary of Dalian Beixiang Business Consulting Co. The parent company's satellite office in the North-East will boost the development of reciprocal business activities between each region in the future.

One NorthEast director of strategic investment Chris Fraser said: "China Business Company is an ideal first client for the International Business Centre, and hopefully the first of many investors from China."

The establishment of the company's UK office on Tyneside is due to the efforts of Gateshead Council and One NorthEast. Nicholas Craig of Eversheds solicitors provided legal and property advice.