China is the world’s second largest economy after the United States and plans are already in the works for a direct trading link between the London and Shanghai stock exchanges.

If approved, the London-Shanghai Stock Connect programme would allow UK-based investors to buy Chinese shares and vice versa. 

Other topics up for the discussion will likely include Beijing’s Belt and Road infrastructure scheme.

The multi-trillion dollar project involves the construction of a modern-day Silk Road with new bridges, tunnels and maritime routes constructed to better connect China with the rest of the world - and UK-based banks could play a major role in helping finance it.

Joining the Chancellor in waving the flag for Britain is an entourage of high-profile banking executives, including Nikhil Rathi, chief executive of the London Stoke Exchange, and chairman of HSBC Holdings Mark Tucker.

Mr Hammond has previously said China is a “natural partner” for Britain and praised the Asian giant for its ambitious Belt and Road project. 

And Beijing has already invested some £10billion ($14 billion) in the UK since the start of 2016, according to figures American Enterprise Institute and Heritage Foundation.

This includes a 33 per cent stake in the Hinkley Point C nuclear power station, which will eventually provide seven per cent of the UK’s electricity.

Ahead of the Chancellor’s trip, a Treasury spokesperson said: "This week's Economic and Financial Dialogue will see the next phase in the UK's strengthening relationship with China as we continue to build an economy fit for the future.

"The UK has a huge amount of expertise to offer abroad and is one of the best places in the world to do business, so we look forward to productive talks which build on the progress made at previous dialogues.

Express.co.uk will be covering Mr Hammond’s trip as he meets with Chinese trade leaders. Please check back for updates.