Rachel Reeves is the most senior British government official to visit China since then-PM Theresa May held talks with Chinese President Xi Jinping seven years ago.

The value of the pound fell to its lowest level in over a year while UK borrowing costs jumped to their highest since the financial crisis

Chancellor Rachel Reeves faces demands to cancel a trip to China as the UK economy descends into chaos. She is jetting off to Beijing despite fears that a crisis on the financial markets could force her to impose fresh tax hikes or impose swingeing spending cuts.