UK banks ramp up RMB resources in London

Paul Gooding, HSBC

HSBC and Royal Bank of Scotland (RBS) have stepped up their efforts to ensure they are ready for London's likely role as the next offshore centre for the trading of Chinese renminbi, following an agreement between UK and Hong Kong authorities in January to accelerate progress towards that goal.

"With both Chinese and European governments pushing for more trade and investment between the two regions and a growing number of Chinese companies investing in Europe through the London gateway, we think

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