Nytt

Hvordan kunne David Cameron finne på å si nei til EUs skattepolitiske union? Svaret kan finnes i avtalen om å gjøre London til et senter for handel med yuan – Kinas valuta.

Mandag ble det kjent at Hongkong og London har inngått en avtale om å gjøre City til et senter for handel med yuan. Kina ser for seg at London vil være en bro til USA bla.

Camerons nei til en politisk union, og en finansavgift på alle transaksjoner, var ikke det isolasjonistiske skritt og utenforskap som kontinentet gjerne ville tro. Det er heller Brussel som ikke følger med tiden.

China has taken steps to extend the reach of the yuan into Europe with a partnership announced Monday between Britain and Hong Kong to turn London into a major offshore center of trade for its currency.

George Osborne, chancellor of the Exchequer or finance minister, said Britain and Hong Kong had agreed to launch a joint private sector forum to enhance cooperation and support China’s bid to develop the offshore market for the yuan.

Osborne said the intention was to establish London as «a new hub» for the yuan, also known as the renminbi (RMB), to compliment Hong Kong.

«It’s clear that there is scope for the substantial expansion of the RMB market in the coming years,» he told the Asian Financial Forum in the southern Chinese banking center.

«I think London is perfectly placed to act as a gateway for Asian investment and banking to Europe and as a bridge to the United States.»

Hong Kong Chief Executive Donald Tsang, who heads the semi-autonomous island’s government, said a new private sector-led group would focus on expanding settlement systems, market liquidity and the development of renminbi financial products.

It’s believed China is looking to push the yuan as a second world currency after the US dollar. A key step in this development was taken in late December when China and Japan – the world’s second and third largest economies, respectively – agreed to conduct future bilateral trade directly in the Chinese currency.

(AFP, AP)

China looks to establish London as center for yuan