简体中文
Trade & Investment
China eyes RMB, infrastructure deals on Li's Britain trip
Last Updated: 2014-06-13 04:00 | Global Times
 Save  Print   E-mail

Chinese Premier Li Keqiang will discuss infrastructure, high-speed rail, nuclear and finance deals during a trip to Britain next week, as well as London's role as an offshore yuan trading hub, a senior Chinese official said on Thursday.

Li will meet with British Prime Minister David Cameron at his London residence on Tuesday, a reciprocal visit following the British leader's trip to China last year. Li will also go to Greece on Monday.

British Finance Minister George Osborne opened the door to further Chinese investment during a visit to China in October 2013.

He announced less stringent rules for Chinese banks operating in London, in a push to make the British capital the main offshore hub for trading in China's currency and bonds.

Osborne also paved the way for Chinese investors to take majority stakes in future British nuclear plants.

Speaking to reporters ahead of Li's visit, Gao Yan, China's vice minister of commerce, signaled that further agreements would be signed.

"London has all along dedicated itself to becoming a renminbi trading center," Gao said.

"On this visit to Britain by Premier Li, I believe that there will be positive developments on this issue, including on financial cooperation," she noted. "We will fully make use of London's position as a financial center to further develop China's finance industry."

China Construction Bank, China's second-largest lender, has been selected to become the first clearing service for renminbi trading in London, the Financial Times reported on Wednesday.

The internationalization of the yuan is one of China's most ambitious and hotly debated reform projects. From less than 1 percent in 2009, nearly one-fifth of China's trade is now settled in yuan.

0
Share to 
Related Articles:
Most Popular
BACK TO TOP
Edition:
Chinese | BIG5 | Deutsch
Link:    
About CE.cn | About the Economic Daily | Contact us
Copyright 2003-2024 China Economic Net. All right reserved