Rachel Reeves has insisted she won't budge on her “non-negotiable” fiscal rules laid out in the October budget while staunchly defending her China visit, which has come amid market turbulence back in Britain.

Rachel Reeves vowed to stand by her “non-negotiable” fiscal rules, as her mission to China was overshadowed by further turbulence in the gilt markets. Visiting bicycle-maker Brompton’s flagship Beijing store on Saturday,

Ms Reeves is bracing herself for a report on the state of the public finances due from the Office for Budget Responsibility on March 26, and is due to reveal her spending plans in June although there are rumours at Westminster that she could make an emergency statement before then.

Rachel Reeves has said the UK has "no choice" but to engage "confidently" with China, as she arrived in Beijing to begin what she described as "financial dialogue" between the nations.

Public services now need to live within their means,” Rachel Reeves told a room full of business leaders at the CBI’s annual summit in November, “because I’m really clear, I’m not coming back with more borrowing or more taxes.

The chancellor Rachel Reeves is under pressure to cancel a controversial trip to China as the UK economy faces another tumultuous day on the markets. Shadow home secretary Chris Philp blamed Labour for the soaring cost of government borrowing and said she “should stay in the UK fixing the mess her Budget has created”.

Reeves defends fiscal rules during China visit

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