Britain's Treasury chief has kicked off a China visit aimed at boosting economic and financial cooperation between the countries, as the U.K.'s Labour government seeks to reset strained ties with Beijing.

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

The Treasury said Friday that Rachel Reeves will travel to Beijing and Shanghai and will meet with her Chinese government counterpart, Vice Premier He Lifeng. Reeves' trip is expected to revive the China-U.

Britain's Chancellor Rachel Reeves is heading to China this weekend to revive the China-UK Economic and Financial Dialogue—annual bilateral talks suspended since 2019 due to the pandemic and deteriorating relations.