Mark Boleat, City of London Policy Chairman, on China relations.
Last year's visit to the UK by the Chinese president Xi Jingping marked a strengthening of ties between the two countries, the culmination of which was the announcement of several major business deals including the building of a new nuclear power plant at Hinkley Point, Somerset. During the visit, an official from the People’s Bank of China said he hoped that London would become the worldwide center for renminbi trading. London accounts for 40% of global foreign exchange trading and its looking to build on that by making itself the center for offshore trading in China's Renminbi currency. So how will it go about doing that? One man in the know is Mark Boleat, the City of London Policy Chairman.