The UK’s largest water company, Thames Water, has sold nearly 9% of the company to China Investment Corporation (CIC), China’s sovereign wealth fund.

The Chinese firm confirmed the news with a one-sentence statement on their website and Thames gave no comment other than to confirm the sale.

The deal comes at the end of a week in which George Osborne visited the Far East to strengthen economic ties. The Treasury said the visit was used specifically strengthen ties in financial services, infrastructure investment and innovation and to promote Britain as a centre of Asian investment and finance in the West.