UK, China discuss setting up RMB clearing bank in London-Osborne

HONG KONG Wed Feb 19, 2014 9:46pm EST

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HONG KONG Feb 20 (Reuters) - The British and Chinese governments are in active discussions about setting up a renminbi clearing bank in London, British finance minister George Osborne said on Thursday.

At present, London mainly relies on Hong Kong's offshore yuan infrastructure. Standard Chartered Bank also cooperated with Agricultural Bank of China in December to provide yuan clearing services in the UK.