UK Chancellor meets Chinese Vice Premier in Beijing

Updated: 00:00 GMT, Jan 1, 1970 | Published: 11:06 GMT, Feb 25, 2016 |

UK Chancellor George Osborne met Chinese Vice Premier Ma Kai in Beijing on Thursday (February 25) ahead of a meeting of finance ministers and central bankers from the G20 nations in Shanghai on Friday (February 26) and Saturday (February 27).

Osborne shook hands with Ma, before sitting down to talks in the presence of delegates from both Britain and China.

The current market turmoil and a global economic slowdown are expected to be key topics of discussion at the G20 meetings.

Policymakers and industry leaders in China on Thursday flagged the need for improved market communication and currency stability in the country while also calling for greater global coordination to deal with economic challenges.

China is itself struggling to balance short term stability with structural reforms that might risk generating unemployment or leading to bankruptcies if demand remains weak.