The UK and China are to work together to co-fund a £50 million “cutting-edge” nuclear research and innovation centre.

It follows Chancellor George Osborne’s £2 billion financial commitment for the new Hinkley Point C nuclear power plant in Somerset, which is also backed by Chinese investors.

During his five-day trip to China, he also announced a regional collaboration between Cumbria and Sichuan Province, which is expected to “deepen commercial ties” in nuclear decommissioning and waste management.

Mr Osborne said: “This is a partnership built on lasting economic ties and growing co-operation. So with Vice Premier Ma’s personal support, we are strengthening our partnership in nuclear energy.

“Our message to our Chinese counterparts is clear, I want the UK to be China’s best partner in the West. I want us to enjoy a golden decade where we help each other to grow, to create jobs and raise living standards.”