George Osborne's red carpet treatment of China stores big rewards, and big risks

Economists, analysts and politicians are divided over the pros and cons of the UK chancellor's fiting of China for investment and orders

The ancient Silk Road, along which caravans of traders brought fine Chinese cloths and exquisite porcelain to markets across Asia, never stretched as far as chilly Britain. But George Osborne is determined that its 21st-century successor will terminate in London.

China's plan to step up renminbi-denominated trading in the City is just the latest evidence of what the chancellor hopes will be a "golden era" of economic and financial cooperation between China and the UK.

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