London has the edge as renminbi hub

Top bankers and policymakers who met in London earlier this week at the UK-China Financial Forum are highly likely to have reflected on how far the city had come as a main offshore trading hub for the renminbi, supporting a rapidly growing number of British and other European companies trading with China.

The offshore renminbi market has grown dramatically since China began to internationalize its currency in earnest in 2009, prompting a race among financial centers around the world to become renminbi trading hubs.

London is the world's largest hub after Hong Kong for renminbi trade and comfortably ahead of Singapore, Taipei and New York. We believe it is set to grow even stronger in the next few years.