UK, China boost financial ties, deepen London’s role as offshore yuan hub

London has solidified its position as a leading offshore hub for China's yuan through a new financial cooperation agreement. This agreement aims to facilitate the cross-listing of firms in each other's markets. The deal was announced following the first meeting of the UK-China Financial Working Group, which took place in Beijing during British Prime Minister Keir Starmer’s state visit. The outcomes of the meeting and a joint statement were made public on Friday.