Clifford Chance senior partner Malcolm Sweeting has accompanied the UK's new Chancellor, Philip Hammond, on a mission to promote British business in China.

The magic circle law firm is among a raft of City businesses visiting Chinese leaders alongside the Chancellor. Other companies on the trip include HSBC, Virgin Money, Aberdeen Asset Management, the London Stock Exchange, Standard Life and the China-Britain Business Council.

The itinerary for the trip will include the Hammond-led delegation visiting Chengdu to attend a G20 finance ministers' meeting, as well as visits to Beijing and Hong Kong.

Hammond said: "My focus in China will be on promoting British business opportunities, including in the financial services sector, where Britain is a world leader…. In the last few days alone we have seen the Australian Prime Minister say he wants a new trade deal with Britain – and Japanese technology firm Softbank announce plans for a record investment in the UK.

"This is all evidence that our economy is fundamentally strong and well equipped to adapt to the change that will be necessary as we leave the EU."

This visit is set to be the first of many visits to China in a bid to illustrate the new opportunities created by Brexit.

Throughout the trip, Hammond will emphasise the strengths of Britain's financial sector – highlighting that the UK will continue to be an open trading nation with a low tax economy.

These senior representatives of the UK will meet with their Chinese counterparts from the banking sector at a roundtable hosted by the Chancellor in Beijing.

The UK receives more Chinese investment than any other European country. During the past decade, there has been growth in China's investment to the UK at an average of 58% per year.

Annual exports from the UK to China are valued at more than £18bn, making China fourth on the UK's list of destinations for exporting goods.