London: China's Door to the West – 伦敦:中国通往西方市场的凯旋门

    View Author October 2013

    Following the establishment by the Bank of England of a three-year 200 billion yuan currency swap line in June 2013, the UK and China have now announced that the pound is to become the fourth currency to trade directly against the yuan after the US dollar, the yen and the Australian dollar.


    China also approved an 80 billion yuan quota for London-based investors to buy onshore Chinese securities under the Renminbi Qualified Foreign Institutional Investor Scheme, making the UK one of three countries, along with Hong Kong and Taiwan, to take part in this scheme.


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