{"id":2990,"date":"2025-01-11T14:55:06","date_gmt":"2025-01-11T14:55:06","guid":{"rendered":"https:\/\/260web.com\/news\/reeves-defends-china-visit-and-hails-600m-boost-to-uk\/"},"modified":"2025-01-11T14:55:06","modified_gmt":"2025-01-11T14:55:06","slug":"reeves-defends-china-visit-and-hails-600m-boost-to-uk","status":"publish","type":"post","link":"https:\/\/260web.com\/news\/reeves-defends-china-visit-and-hails-600m-boost-to-uk\/","title":{"rendered":"Reeves defends China visit and hails \u00a3600m boost to UK"},"content":{"rendered":"<p>Reeves defends China visit and hails \u00a3600m boost to UK<\/p>\n<div data-component=\"image-block\" class=\"ssrcss-1b5y2ub-ComponentWrapper-FullWidthWrapper ey0461q0\">\n<figure class=\"ssrcss-1vfya96-StyledFigure e34k3c22\">\n<div class=\"ssrcss-ab5fd8-StyledFigureContainer e34k3c21\"><span class=\"ssrcss-fmt1c3-Placeholder etlorgc0\"><picture><source srcset=\"https:\/\/ichef.bbci.co.uk\/ace\/standard\/240\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg.webp 240w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/320\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg.webp 320w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/480\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg.webp 480w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/624\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg.webp 624w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/800\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg.webp 800w, https:\/\/260web.com\/news\/wp-content\/uploads\/2025\/01\/DiDRPt.jpg.webp 976w\" type=\"image\/webp\"><img fetchpriority=\"high\" decoding=\"async\" alt=\"UK Chancellor Rachel Reeves dressed in a black jacket and red shirt standing in front of a backdrop of two flags representing China and the UK\" loading=\"eager\" src=\"https:\/\/260web.com\/news\/wp-content\/uploads\/2025\/01\/DiDRPt.jpg\" srcset=\"https:\/\/ichef.bbci.co.uk\/ace\/standard\/240\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg 240w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/320\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg 320w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/480\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg 480w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/624\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg 624w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/800\/cpsprodpb\/a384\/live\/2091bfc0-cff3-11ef-87df-d575b9a434a4.jpg 800w, https:\/\/260web.com\/news\/wp-content\/uploads\/2025\/01\/DiDRPt.jpg 976w\" width=\"976\" height=\"549\" class=\"ssrcss-11yxrdo-Image edrdn950\"><\/picture><\/span><span role=\"text\" class=\"ssrcss-tvuve5-StyledFigureCopyright e34k3c20\">Reuters<\/span><\/div>\n<\/figure>\n<\/div>\n<div data-component=\"byline-block\" class=\"ssrcss-1hbb5i-BylineComponentWrapper e8mq1e90\">\n<div class=\"ssrcss-qt5zqv-BylineWrapper e8mq1e918\">\n<div class=\"ssrcss-h3c0s8-ContributorContainer e8mq1e917\">\n<div class=\"ssrcss-1u2in0b-Container-ContributorDetails e8mq1e914\">\n<div class=\"ssrcss-68pt20-Text-TextContributorName e8mq1e97\">Michael Race<\/div>\n<div class=\"ssrcss-84ltp5-Text e8mq1e911\">Business reporter, BBC News<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ssrcss-jlwt2c-Divider e8mq1e916\"><\/div>\n<\/div>\n<div data-component=\"metadata-block\" class=\"ssrcss-xza2yt-ComponentWrapper ep2nwvo1\">\n<div>\n<ul role=\"list\" class=\"ssrcss-1ik71mx-MetadataStripContainer eh44mf03\">\n<div class=\"ssrcss-13nu8ri-GroupChildrenForWrapping eh44mf02\">\n<li role=\"listitem\" class=\"ssrcss-30fcoe-MetadataStripItem eh44mf01\">\n<div class=\"ssrcss-m5j4pi-MetadataContent eh44mf00\"><span class=\"ssrcss-1pvwv4b-MetadataSnippet e4wm5bw3\"><span class=\"ssrcss-1if1g9v-MetadataText e4wm5bw1\"><time data-testid=\"timestamp\" datetime=\"2025-01-11T00:16:59.874Z\">11 January 2025, 00:16 GMT<\/time><\/span><\/span><\/div>\n<\/li>\n<\/div>\n<\/ul>\n<\/div>\n<div class=\"ssrcss-13mf69a-MetadataSnippetWrapper ek9haql0\"><span class=\"ssrcss-1pvwv4b-MetadataSnippet e4wm5bw3\"><span class=\"ssrcss-1if1g9v-MetadataText e4wm5bw1\"><time data-testid=\"timestamp\" datetime=\"2025-01-11T13:34:22.360Z\">Updated 1 hour ago<\/time><\/span><\/span><\/div>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\"><b class=\"ssrcss-1xjjfut-BoldText e5tfeyi3\">Chancellor Rachel Reeves has defended her decision to travel to China to improve economic ties at a time when soaring government borrowing costs threaten to squeeze UK public finances.<\/b><\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">She says she wants a long-term relationship with China that is &#8220;squarely in our national interest&#8221; and on Saturday said agreements reached in Beijing would be worth \u00a3600m to the UK over the next five years.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Her trip has been overshadowed by UK borrowing costs hitting a 16-year high and a fall in the value of the pound, with the Conservatives accusing Reeves of having &#8220;fled to China&#8221;.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Speaking during a visit to UK bike maker Brompton&#8217;s Beijing store, Reeves insisted she would not alter her economic plans.<\/p>\n<\/div>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Reeves met Chinese Vice-Premier He Lifeng in Beijing, discussing trade and investment opportunities as part of efforts to grow the UK economy and raise living standards.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Following the talks, the UK Treasury said both countries had agreed to deeper co-operation in trade, financial services, investment and climate issues. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">China is the world&#8217;s second largest economy and the UK&#8217;s fourth largest single trading partner. According to the Treasury, exports to the country supported more than 455,000 UK jobs in 2020.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Reeves told reporters in Beijing she would &#8220;take action&#8221; to ensure she met her fiscal rules following a rise in borrowing costs.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">She said: &#8220;I have been really clear that our fiscal rules are non-negotiable, that we will pay for day-to-day spending through tax receipts and we will get debt down as a share of GDP.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But the market movements create a potential problem for Reeves if she wants to meet her self-imposed rules.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Governments generally spend more than they raise in tax so they borrow money to fill the gap, usually by selling bonds to investors.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But UK borrowing costs have been rising in recent months and this week the cost of borrowing over 10 years hit its highest level since 2008. The pound also dropped on Friday to below $1.22.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The market turbulence also comes as growth in the UK economy has been stagnant and businesses are bracing themselves for tax rises due to come into effect in April.<\/p>\n<\/div>\n<\/div>\n<div data-component=\"image-block\" class=\"ssrcss-1b5y2ub-ComponentWrapper-FullWidthWrapper ey0461q0\">\n<figure class=\"ssrcss-1vfya96-StyledFigure e34k3c22\">\n<div class=\"ssrcss-ab5fd8-StyledFigureContainer e34k3c21\"><span class=\"ssrcss-1ywnpch-Placeholder etlorgc0\"><span><\/p>\n<div><picture><source srcset=\"https:\/\/ichef.bbci.co.uk\/ace\/standard\/240\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg.webp 240w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/320\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg.webp 320w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/480\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg.webp 480w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/624\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg.webp 624w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/800\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg.webp 800w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/976\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg.webp 976w\" type=\"image\/webp\"><img decoding=\"async\" alt=\"Chinese Vice-Premier He Lifeng and Britain's Chancellor Rachel Reeves shake hands before flags of China and the UK at a summit in Beijing\" loading=\"lazy\" src=\"https:\/\/260web.com\/news\/wp-content\/uploads\/2025\/01\/xuB3lI.jpg\" srcset=\"https:\/\/ichef.bbci.co.uk\/ace\/standard\/240\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg 240w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/320\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg 320w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/480\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg 480w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/624\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg 624w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/800\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg 800w, https:\/\/ichef.bbci.co.uk\/ace\/standard\/976\/cpsprodpb\/164d\/live\/4a2aaa00-cff2-11ef-87df-d575b9a434a4.jpg 976w\" width=\"994\" height=\"559\" class=\"ssrcss-11yxrdo-Image edrdn950\"><\/picture><\/div>\n<p><\/span><\/span><span role=\"text\" class=\"ssrcss-tvuve5-StyledFigureCopyright e34k3c20\">Reuters<\/span><\/div>\n<\/figure>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The Treasury said Reeves&#8217; visit to China delivered on a &#8220;commitment to explore deeper economic co-operation&#8221; between Prime Minister Sir Keir Starmer and President Xi, made last year.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">BBC economics editor Faisal Islam said other European nations such as Spain have encouraged China not just to set up factories but to transfer its advanced battery technology, for example, into Europe.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He said the UK now risks upsetting the new US administration of Donald Trump if it encourages China&#8217;s role as part of its own green growth strategy.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">During Saturday&#8217;s meeting with the Chinese vice-premier, Reeves discussed Hong Kong and Russia&#8217;s invasion of Ukraine.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">She said: &#8220;We discussed that there will need to be areas where we disagree and it is important that we can have open and frank exchange on these issues.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;That includes concerns on national and economic security, market access and impacts of subsidies and industrial policy to ensure a level playing field exists.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Tory MP and former security minister Tom Tugendhat told BBC Radio 4&#8217;s Today programme that the timing of Reeves&#8217; visit to China was questionable.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;She&#8217;s going at a time when her Budget has sacked the economy, we&#8217;ve got debt rates going up, and she looks like she&#8217;s going with a begging bowl, not with a trading deal,&#8221; he said. &#8220;That&#8217;s a real problem because actually it makes the UK look more vulnerable, and others around the world will see it too.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Tugendhat said Reeves had not made it &#8220;clear at all&#8221; what she has hoping to gain through her visit.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;We don&#8217;t use the second most important person in government to do anything other than to fundamentally change a relationship,&#8221; he said. &#8220;Well, she hasn&#8217;t told us what that change is.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Liberal Democrat deputy leader and Treasury spokesperson Daisy Cooper urged the chancellor to return to the UK &#8220;to urgently address the ongoing crisis in the markets and announce a serious plan for growth&#8221;.<\/p>\n<\/div>\n<\/div>\n<div data-component=\"links-block\" class=\"ssrcss-12l5xzx-LinksComponentWrapper e3eyuya0\">\n<section class=\"ssrcss-msolhr-LinksWrapper e3eyuya5\">\n<ul role=\"list\" class=\"ssrcss-mh3hvv-InContentLinksGrid e3eyuya3\">\n<li class=\"ssrcss-r2yl4r-PromoItem e3eyuya1\">\n<div data-testid=\"promo\" class=\"ssrcss-s1qr4x-Promo e1vyq2e80\">\n<div class=\"ssrcss-1enzf19-PromoCompact e18gnqux0\">\n<div class=\"ssrcss-1d68cot-PromoContent exn3ah99\">\n<div spacing=\"2\" class=\"ssrcss-1f3bvyz-Stack e1y4nx260\"><span role=\"text\"><\/p>\n<p class=\"ssrcss-1sen9vx-PromoHeadline exn3ah96\"><span aria-hidden=\"false\">Reeves faces &#8216;difficult decisions&#8217; on tax and spending<\/span><\/p>\n<p><\/span><\/div>\n<div spacing=\"2\" class=\"ssrcss-1f3bvyz-Stack e1y4nx260\">\n<div>\n<ul role=\"list\" class=\"ssrcss-1ik71mx-MetadataStripContainer eh44mf03\">\n<div class=\"ssrcss-13nu8ri-GroupChildrenForWrapping eh44mf02\">\n<li role=\"listitem\" class=\"ssrcss-30fcoe-MetadataStripItem eh44mf01\">\n<div class=\"ssrcss-m5j4pi-MetadataContent eh44mf00\"><span class=\"ssrcss-1pvwv4b-MetadataSnippet e4wm5bw3\"><span class=\"ssrcss-1if1g9v-MetadataText e4wm5bw1\">1 day ago<\/span><\/span><\/div>\n<\/li>\n<\/div>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/li>\n<li class=\"ssrcss-r2yl4r-PromoItem e3eyuya1\">\n<div data-testid=\"promo\" class=\"ssrcss-s1qr4x-Promo e1vyq2e80\">\n<div class=\"ssrcss-1enzf19-PromoCompact e18gnqux0\">\n<div class=\"ssrcss-1d68cot-PromoContent exn3ah99\">\n<div spacing=\"2\" class=\"ssrcss-1f3bvyz-Stack e1y4nx260\"><span role=\"text\"><\/p>\n<p class=\"ssrcss-1sen9vx-PromoHeadline exn3ah96\"><span aria-hidden=\"false\">Why are UK borrowing costs rising and what does it mean for me?<\/span><\/p>\n<p><\/span><\/div>\n<div spacing=\"2\" class=\"ssrcss-1f3bvyz-Stack e1y4nx260\">\n<div>\n<ul role=\"list\" class=\"ssrcss-1ik71mx-MetadataStripContainer eh44mf03\">\n<div class=\"ssrcss-13nu8ri-GroupChildrenForWrapping eh44mf02\">\n<li role=\"listitem\" class=\"ssrcss-30fcoe-MetadataStripItem eh44mf01\">\n<div class=\"ssrcss-m5j4pi-MetadataContent eh44mf00\"><span class=\"ssrcss-1pvwv4b-MetadataSnippet e4wm5bw3\"><span class=\"ssrcss-1if1g9v-MetadataText e4wm5bw1\">1 day ago<\/span><\/span><\/div>\n<\/li>\n<\/div>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/li>\n<li class=\"ssrcss-r2yl4r-PromoItem e3eyuya1\">\n<div data-testid=\"promo\" class=\"ssrcss-s1qr4x-Promo e1vyq2e80\">\n<div class=\"ssrcss-1enzf19-PromoCompact e18gnqux0\">\n<div class=\"ssrcss-1d68cot-PromoContent exn3ah99\">\n<div spacing=\"2\" class=\"ssrcss-1f3bvyz-Stack e1y4nx260\"><span role=\"text\"><\/p>\n<p class=\"ssrcss-1sen9vx-PromoHeadline exn3ah96\"><span aria-hidden=\"false\">Market trouble threatens Labour&#8217;s economic plans<\/span><\/p>\n<p><\/span><\/div>\n<div spacing=\"2\" class=\"ssrcss-1f3bvyz-Stack e1y4nx260\">\n<div>\n<ul role=\"list\" class=\"ssrcss-1ik71mx-MetadataStripContainer eh44mf03\">\n<div class=\"ssrcss-13nu8ri-GroupChildrenForWrapping eh44mf02\">\n<li role=\"listitem\" class=\"ssrcss-30fcoe-MetadataStripItem eh44mf01\">\n<div class=\"ssrcss-m5j4pi-MetadataContent eh44mf00\"><span class=\"ssrcss-1pvwv4b-MetadataSnippet e4wm5bw3\"><span class=\"ssrcss-1if1g9v-MetadataText e4wm5bw1\">2 days ago<\/span><\/span><\/div>\n<\/li>\n<\/div>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/section>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Paul Johnson, director of the Institute for Fiscal Studies think tank, told BBC Radio 4&#8217;s Today programme the UK had &#8220;blown hot and cold&#8221; in its relations with China over recent decades, suggesting the Chinese government might be &#8220;pretty sceptical&#8221; about British policies towards it.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">On the chancellor&#8217;s fiscal rules, Mr Johnson said it would be very difficult for her to abandon them.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He said: &#8220;She&#8217;s really nailed her colours to the mast there and we have seen that the markets are pretty concerned about the UK position. That is partly because we are so dependent on international flows of finance to finance our debt and trade deficit.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">In addition to expanding current financial services trade in Shanghai, the government has said talks would look to &#8220;bring down barriers&#8221; that British businesses face in trying to export or expand to China.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Reeves is joined by Bank of England governor Andrew Bailey, Financial Conduct Authority chief executive Nikhil Rathi and other senior representatives from some of Britain&#8217;s biggest financial services firms.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But the visit also comes after MPs challenged Chinese-founded fashion retailer Shein over its supply chains amid allegations of forced labour and human rights abuses. Shein has denied the claims.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">On Tuesday, a senior lawyer representing Shein repeatedly refused to say whether the company sold products containing cotton from the Xinjiang region, an area in which China has been accused of subjecting Uyghur Muslims to forced labour.<\/p>\n<\/div>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Sir Sherard Cowper-Coles, chairman of the China-British Business Council, said the chancellor was right to travel to China.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;She is doing exactly the right thing in the right way with her eyes wide open, stressing national security, stressing our [UK] values, stressing human rights,&#8221; he said.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He told the Today programme: &#8220;A grown-up, confident country engages with serious players around the world, we agree to disagree, we stand up for our values.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He said the government&#8217;s approach &#8220;is very similar to the last government&#8217;s policy which is to compete, to challenge and to co-operate. That&#8217;s what we need to do.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;China has 800 million middle-class people who want to buy British products, are interested in British savings and pension products  \u2013 it&#8217;s madness not to engage.&#8221;<\/p>\n<\/div>\n<\/div>\n<div data-component=\"topic-list\" class=\"ssrcss-1qmkvfu-TopicListWrapper etw6iwl1\">\n<div class=\"ssrcss-113c0cq-StyledTagContainer ed0g1kj1\">\n<div class=\"ssrcss-50vlbt-TopicListHeaderWrapper etw6iwl0\">\n<h2 type=\"normal\" class=\"ssrcss-ad2rmd-Heading e10rt3ze0\">Related topics<\/h2>\n<\/div>\n<div class=\"ssrcss-17ehax8-Cluster e1ihwmse1\">\n<ul role=\"list\" spacing=\"2\" class=\"ssrcss-1ujonwb-ClusterItems e1ihwmse0\">\n<li>HM Treasury<\/li>\n<li>Rachel Reeves<\/li>\n<li>UK government<\/li>\n<li>UK economy<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>Published at Sat, 11 Jan 2025 13:34:22 +0000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reeves defends China visit and hails \u00a3600m boost to UK Reuters Michael Race Business reporter, BBC News 11 January 2025, 00:16 GMT Updated 1 hour ago Chancellor Rachel Reeves has defended her decision to travel to China to improve economic ties at a time when soaring government borrowing costs threaten to squeeze UK public finances.&hellip; <a class=\"more-link\" href=\"https:\/\/260web.com\/news\/reeves-defends-china-visit-and-hails-600m-boost-to-uk\/\">Continue reading <span class=\"screen-reader-text\">Reeves defends China visit and hails \u00a3600m boost to UK<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":2989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk-politics","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/2990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/comments?post=2990"}],"version-history":[{"count":0,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/2990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media\/2989"}],"wp:attachment":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media?parent=2990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/categories?post=2990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/tags?post=2990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}