Osborne signals new UK ties with China

George Osborne will today hail a new era in Britain's relations with China as ministers predicted a massive surge of investment from the Asian economic dynamo to build a new generation of nuclear power stations for the UK.

The Chancellor, who is leading a high-powered ministerial and business delegation to China, will use a keynote speech to students in Beijing to call for the two countries to take the "next big step" in their relationship.

Arriving yesterday in the Chinese capital, Mr Osborne announced a relaxation of the visa rules for Chinese nationals - amid complaints the current regime is a deterrent to more high-spending visitors coming to the UK.

Read: Boris: China visas move a 'welcome step forward'

Advertisement

Chinese banks to come to UK

Chinese banks will be able to apply to set up branches in Britain, Chancellor George Osborne has announced during a visit to the country.