Tony Blair has been paid more than $500,000 for a 20-minute speech in China, meaning he has overtaken Bill Clinton to become the world’s most sought-after public speaker.

Britons might have tired of hearing from the former prime minister but in the southern Chinese industrial town of Dongguan his words appear to be worth their weight in gold.

Mr Blair’s lucrative speech to a group of about 600 Communist party officials, businessmen and investment bankers confirms he has shot into the super league of after-dinner speakers.

Bill Clinton was paid a mere $100,000 for a speaking engagement in Hong Kong late last year.