Interesting article on London’s ambitions to become a Yuan trading hub. Makes sense given’s London’s FX activities.
Mark Boleat, chairman of the policy and resources committee of the City of London, said the local government would continue to promote the use of yuan by domestic companies and investors.
“London is the world’s largest foreign-exchange trading centre. We would definitely want to see sufficient liquidity of RMB here so that people doing business with China can easily buy or sell the currency here to settle trade with their Chinese trading partners,”
