UK Chancellor Rachel Reeves visits China to reassure markets and announce £600 million deals

UK Chancellor Rachel Reeves visited China to address market concerns about the UK’s fiscal health. She announced deals worth £600 million to boost the British economy over the next five years, emphasizing the importance of adhering to fiscal rules. Reeves acknowledged the need for potential spending cuts or tax increases following recent market turmoil. She reiterated the government's commitment to economic growth and trade with China, despite opposition calls to cancel her trip. During the visit, the UK and China agreed to enhance financial services and lift export barriers, particularly in agri-food. These initiatives aim to strengthen trade ties and create jobs in the UK.