As part of his current initiative in Beijing UK fin min George Osborne is expected today to announce special terms for Chinese banks setting up in the UK.
Yesterday he said:
A great nation like China should have a global currency.
China should look to develop the renminbi:
through the international centre of finance: London
London is already the world’s dominant centre outside China and Hong Kong for renminbi foreign exchange trading, which amounted to a daily USD5.3 bln at the last count six months ago, according to the BIS
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