UK Chancellor Rachel Reeves visits China

The UK Chancellor of the Exchequer, Rachel Reeves, has traveled to China to participate in economic talks.

Azernews reports that the minister emphasized the importance of mutual relations with China, the world's second-largest economy, and stated that she would be open and honest on democratic values and other key issues. Rachel Reeves stressed that pragmatic and predictable relations with China are crucial for economic growth and trade. These statements come amid sharp interest rate hikes in the UK.

Defending her visit to China, Rachel Reeves highlighted that the move aligns with the national interests of the United Kingdom. She mentioned that agreements reached in Beijing are expected to bring £600 million in revenue to the UK over the next five years.

However, the visit has sparked controversy in the UK due to the sharp rise in interest rates and the decline in the value of the pound. The Conservative Party has criticized Reeves, accusing her of "running to China" and questioned her priorities. The minister, however, stated that establishing long-term and constructive relations with China is vital for the UK’s economic interests.