Keep recent turmoil “in perspective”, says Osborne

However, speaking on Sunday afternoon the chancellor insisted that even with its economy slowing China would continue to be “a massive source of growth going forward”.

Osborne said he was “very deliberately” visiting the Shanghai stock exchange on Tuesday and would be talking about what had happened on the financial markets over the summer.

Coun Blake said: “This visit to China along with other council leaders from across the north allows us to build on our existing strong relations with Leeds’ partner city of Hangzhou as well as looking to raise the profile of the city and meet potential new partners for trade and investment in Shanghai and Chengdu”.

Gatley-born Lord Jim O’Neill, the Commercial Secretary to the Treasury, responsible for pushing forward plans for the Northern Powerhouse, will also be part of the delegation.

A series of major Chinese investments in Britain are expected to be unveiled next month when president Xi Jinping travels there next month on his first state visit to the country.

“I want us forge closer economic and cultural links with China”, he added. “We need to double our efforts to strengthen our economic links, help British firms enter the market there, and attract more investment into the United Kingdom and the Northern Powerhouse”.

“This trip is all about exploring new opportunities to open up new markets to benefit both economies”. With him will be the director of the British Museum, Neil MacGregor, the executive director of the National Theatre, Lisa Burger, and Sir Tim Smit, founder of the Eden Project in Cornwall.

Liu said the Chinese people are good at innovation and that over the past 66 years since the founding of new China, especially during the past 37 years since China’s reform and opening-up, China has learned from the advanced experiences of countries like Britain and vigorously pursued the strategy of rejuvenating China through science, education and talent cultivation.

Business Secretary Sajid Javid, Energy Secretary Amber Rudd, Communities Secretary Greg Clark, Minister for Small Business Anna Soubry and City Minister Harriett Baldwin will attend parts of the tour, the Treasury said.

The centrepiece of Mr Osborne’s visit will be the UK-China Economic and Financial Dialogue in Beijing.

The trip marks a continuing upswing in UK-China relations, which were briefly thrust into the deep-freeze by Beijing’s displeasure at Prime Minister David Cameron’s meeting with the Dalai Lama in 2012.

For this year, the government is targeting annual economic growth of about 7%. It is the sixth biggest market for exported British goods. “So we are very support of the economic reforms that the Chinese government has talked about and are now starting to [put into practice]”. It will be the first time a Chinese leader has been on a state visit to Britain in a decade.