London to become the main overseas Yuan trading center

Note: This section contains information in English only.
Source: China.org.cn
London is expected to become the main Yuan trading center in the overseas market as the UK cooperates with Hong Kong in an attempt to develop this business. The HKMA and UK Treasure agreed on Monday to launch new private sector forum aimed at strengthening ties between the UK and Hong Kong in areas like clearing, settlement, development of Yuan-denominated products and market liquidity. China and the UK already agreed on development offshore Yuan market as London is perfectly located as a gateway for investment from Asia, said George Osborne, UK Chancellor of the Exchequer.


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