UPDATE 1-Britain's Hammond to attend China's Belt and Road forum
President Xi Jinping's new Silk Road initiative has been controversial particularly in Washington, which views it as a way to spread Chinese influence abroad and saddle countries with unsustainable debt, a charge Beijing rejects. The United States is locked in a trade war with China.
Italy has already endorsed China's ambitious project and Switzerland said on Tuesday it would sign an accord backing the initiative next month. Britain is keen to cement closer ties with Beijing as the world's fifth largest economy looks to re-invent itself as a global trading nation after it leaves the European Union.
The Treasury said Hammond would also discuss British-China bilateral economic and financial cooperation. His visit will be subject to a clear parliamentary schedule in London where lawmakers are still trying to find a breakthrough in Brexit talks. They are likely to face more crucial votes in parliament in the coming weeks.
(Reporting by William Schomberg; writing by Kate Holton; editing by Andy Bruce and Jane Merriman)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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