China and the UK are to develop an offshore trading hub for the yuan based in London.
UK Chancellor George Osborne confirmed the agreement after meeting with Chinese vice-premier Wang Qishan in the UK.
"We agreed to collaborate on the development of renminbi-denominated financial products and services in London," he said.
UK Chancellor George Osborne confirmed the agreement after meeting with Chinese vice-premier Wang Qishan in the UK.
"We agreed to collaborate on the development of renminbi-denominated financial products and services in London," he said.
