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China is establishing a 70.7 billion yuan (.8 billion) fund to facilitate mixed-ownership reforms of its State-owned enterprises.

China is resorting to SOE mergers to create more global powerhouses and avoid cut-throat competition, in addition to restructuring redundant industries to aid supply-side reform, Li said.

China is a victim of cyber attack. With 802 million internet users, including 788 million mobile surfers, and a .95 trillion (￡3.1 trillion) digital economy, which accounts for 32.9pc of its GDP, China is an easy target. In 2017 alone, China suffered close to billion in economic loss due to cyber security problems where 93.5pc of ransomware attacks in China were launched overseas. Being a victim itself and believing in Confucius' teaching that "you do not do unto others what you would not have them do unto you", China resolves to do more to underline rather than undermine cyber security.

China has upheld the principles of adjusting its military budget in accordance with its security needs and economic development, Wu said in a video interview.

China is an important trading partner for Britain, especially when it's leaving the European Union, and May's visit is to reinforce the" golden era" for bilateral relations, said Chen Fengying, a senior world economy researcher at the China Institutes of Contemporary International Relations.