Here, the students will be given subsidized places at universities and internships with major Chinese companies in an attempt to give Britain more of a foothold in the world's fastest-growing economy.
According to the sources, this move could raise concerns that some of the country's brightest students will desert UK in favor of more attractive opportunities to study abroad.
But David Willetts, the Universities Minister, said "studying abroad could be "hugely beneficial" to both individual students and the economy on the whole. The move comes amid fears that Britain currently lags behind other nations in terms of the number of students seeking courses and work placements abroad - limiting the number of connections made with other countries."
The British Council, which is leading the campaign, said around 3,500 students travelled to China in 2011, but it wanted the number to grow to at 15,000 by 2016, said the source.
Mr Willetts said that courses and work placements in China would make students "more attractive to businesses in the UK and abroad."
"Studying abroad can be hugely beneficial, it gives students vital skills and knowledge which can help increase their employment opportunities back home."
The "Generation UK" campaign will attempt to find places for British students on a combination of one-year university scholarships or two-month internships with Chinese businesses, he said.
The Department for Business, Innovation and Skills is investing some £400,000 of taxpayers' money in the programme over two years while another £250,000 will come from the British Council.
Moreover, the experts warned that Chinese universities were climbing global league tables in a move that would eventually draw rising numbers of students into taking courses at home.
Phil Baty, editor of Times Higher Education World University Rankings, said: "The leading Chinese institutions are actively seeking to improve their campus diversity and recruit more international students."