China and Britain have restarted economic and financial talks after a six-year hiatus during a visit by Britain’s Treasury chief to Beijing.

Britain's Treasury chief is travelling to China this weekend in a bid to boost economic and financial cooperation between the countries, as the U.K.'s Labour government seeks to reset strained ties with Beijing.

British finance minister Rachel Reeves, facing criticism for travelling to China during financial market turmoil at home, said on Saturday that "pragmatic and predictable" relations with Beijing would help boost economic growth and trade.

Closer links with China are “crucial” for economic growth, Rachel Reeves has said. The Chancellor is in Beijing for talks on a closer trading relationship which she claims will boost Britain’s GDP by £1 billion as the Government attempts to mend relations with the world’s second-largest economy.

It follows criticism of the chancellor's trip which comes at a time of economic unease as UK borrowing costs rise.