Bank of China to expand yuan business in UK

Bank of China plans to expand its yuan business in London as the city embarks on an ambitious plan to establish itself as the West's major centre for trade of offshore yuan.

"Yuan business is definitely a hot topic here in London, since the British government and the City of London are both keen to develop London as a Western hub for offshore yuan business," said Wang Huabin, chief corporate banking officer of Bank of China (UK).

via Business feed http://www.scmp.com/business/money/markets-investing/article/1090768/bank-china-expand-yuan-business-uk