Comment on UK/China summit

What is the expected outcome of the summit?
A series of trade deals is expected to be announced following the meeting between Chinese premier Li Keqiang and UK prime minister David Cameron, and it has been reported by Bloomberg that China Construction Bank, China’s second-largest lender, has said it has been selected to facilitate offshore yuan clearing in London.

Was this expected?
The announcement of the clearing bank follows on from an agreement between Beijing and London in March. The memorandum of understanding (MoU), signed on 31 March, concerns co-operation between the Bank of England and the People’s Bank of China relating to the operations of the renminbi clearing and settlement service in London. That MoU paved the way for this latest announcement, which now brings those arrangements to life…

Click on the link below to read the rest of the Macfarlanes briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Macfarlanes

View more briefings from Macfarlanes

Analysis from The Lawyer

View more analysis from The Lawyer

Browse This Firm’s

Overview

20 Cursitor St
London
EC4A 1LT

Turnover (£m): 139.75
No. of lawyers: 260