Further to my post earlier there has now been a joint statement from the Chinese and UK delegations
China will grant London-based investors the right to use their yuan to buy up to 80 bln yuan ( USD 13.1 bln) worth of mainland stocks, bonds and money market instruments.
The granting of rights to the UK to join the RQFII ( Renminbi Qualified Foreign Institutional Investor Plan ) is the first time the scheme has been extended beyond Hong Kong
In return the British govt has agreed to start talks to allow Chinese banks to set up wholesale units in the UK.
