Reeves is the highest-ranking British government representative to visit China in seven years. In Beijing on Saturday, she said, among other things, that London is a "natural hub" for Chinese financial actors who want to act globally, reports news agency AFP.
Furthermore, she praised the visit as an "opportunity to deepen contacts" and said that "common grounds" had been reached on issues such as financial services, trade, investments, and climate change, although there is still more to be done.
According to Reeves, the value of the agreements is £600 million (approximately 8.2 billion kronor) for the British economy over the next five years.
Her host, Vice Premier He Lifeng, was more conditional and said that if the two countries can "respect each other", the relationships can develop in a "healthy way".
Increased Concern
Also on the trip are Central Bank Governor Andrew Bailey, Financial Supervisory Authority Chief Nikhil Rathi, as well as high-ranking representatives from private banks, reports Bloomberg.
Labour Minister Reeves' trip is being criticized by the opposition, who believe she should have stayed home to handle the financial crisis that the country has been thrown into in recent weeks.
The British long-term government bond yields have skyrocketed, and since Tuesday, the pound has fallen 2.8 percent against the dollar.
Fears are growing that the markets will lose confidence in the British government's ability to keep the national debt in check and inflation under control.
The Goal is Growth
The rising borrowing costs also risk erasing the finance minister's budget leeway and forcing the government to take a range of austerity measures or raise taxes.
Labour came to power last summer on promises to kick-start the economy.
In Beijing, Reeves acknowledged "movements on global financial markets in recent days".
But she also emphasized that the British budget rules from October are "non-negotiable" and that the government will "take measures" to fulfill them.
Growth is the most important goal for this government.
