Finance partners have welcomed plans by the UK Government to help strengthen London’s position as a leading financial centre by turning it into an offshore trading hub for China’s renminbi (RMB) currency. Chancellor of the Exchequer George Osborne signed a deal on Monday (16 January) in Hong Kong setting out plans to make London a trading centre for the currency, which is becoming increasingly important as China’s economic power continues to grow.
January 19, 2012 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Securities lawyers welcome Osborne’s bid to make London an offshore leader for Chinese currency products
Finance partners have welcomed plans by the UK Government to help strengthen London’s position as a leading financial centre by turning it into an offshore trading hub for China’s renminbi (RMB) currency.
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