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
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
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
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.
News from The Lawyer
Briefings from Macfarlanes
M&A Weekly Update: forced sale of shares does not qualify as ‘an offer to the public’ requiring publication of prospectus; and more
Macfarlanes has released its M&A Weekly Update for the period 27 June to 3 July 2014.
Investment Management Update — 4 July 2014: FCA Handbook Notice 13; ESMA updates Q&As on AIFMD; and more
Macfarlanes has released the 4 July 2014 issue of its Investment Management Update.
Analysis from The Lawyer
New arrival Macchi di Cellere Gangemi takes the total of European firms in London to nearly 40. Why do they come and why do they stay, even through an economic crisis?
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.