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London becomes hub for Chinese currency dealings and clearing

Friday, March 28th 2014 - 06:45 UTC
Full article 28 comments

The Bank of England has agreed a deal with the People's Bank of China to make London a hub for Chinese currency dealing. The memorandum of understanding, to be signed next Monday, sets out settlement and clearing arrangements for the Renminbi, or Yuan, in London. Read full article


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  • DanyBerger

    China buying UKistan just for few Quids...

    Mar 28th, 2014 - 07:27 am - Link - Report abuse 0
  • CaptainSilver

    Thankyou for your jelousy Dunny, most satisfying.

    Mar 28th, 2014 - 09:10 am - Link - Report abuse 0
  • Conqueror

    Oh dear. How nasty. City of London/England/United Kingdom of England, Wales and Northern Ireland seems to be dealing in some market outside the EU. Hang on, I thought the SERVICE industries of the UK would fall apart without multi-nationals based in the UK. And CHINA has moved, en masse, into UK, has it?

    Mar 28th, 2014 - 10:29 am - Link - Report abuse 0
  • Anglotino

    Dany is always saying the UK is doomed. China doesn't seem to think so.

    Mar 28th, 2014 - 11:32 am - Link - Report abuse 0
  • lsolde

    lt would seem, malvinistas, that China has confidence in the UK.
    Any stupid trollish comments?

    Mar 28th, 2014 - 11:53 am - Link - Report abuse 0
  • ChrisR


    But how can that be when TMBOA flirted like a two Yuan whore with the new Representative of China only last year?

    Perhaps the blow job she gave him wasn’t up to his expectations.

    I mean, it couldn’t have been the economy of The Dark Country going down the shitter to default AGAIN that stopped China dealing with the Argie money market, could it?

    Ha, ha, ha.

    Mar 28th, 2014 - 12:43 pm - Link - Report abuse 0
  • Britworker

    The second city thanks you China.

    Mar 28th, 2014 - 06:14 pm - Link - Report abuse 0
  • Briton

    Danny Danny Danny….

    But its ok for CFK to do business with china…

    Mar 28th, 2014 - 07:26 pm - Link - Report abuse 0
  • lsolde

    Ah Dany Dumberger,
    Would you like us to chip in a few Yuan for you?
    Better than those useless arg pesos, wouldn't you say?
    lsn't it, Danyboy?
    What do you think?

    Mar 28th, 2014 - 10:25 pm - Link - Report abuse 0
  • toooldtodieyoung

    6 ChrisR

    “when TMBOA flirted like a two Yuan whore”

    I am confused....Does this mean that she is more up market than a 2 dollar whore?

    Does anyone know the exchange rate?

    Mar 28th, 2014 - 10:47 pm - Link - Report abuse 0
  • lsolde

    @10 toooldtodieyoung,
    lts about 5.5 Yuan to the US dollar.
    However many analysts believe that its undervalued & should be about 3 Yuan to the US Dollar.
    The Chinese govt keep it that way so that their exports will be cheaper & imports dearer for Chinese consumers.

    Mar 29th, 2014 - 09:08 am - Link - Report abuse 0
  • ChrisR

    @ 10 toooldtodieyoung

    According to the data from Isolde, it seems I may have over-valued her “charms”.

    Sorry folks for the awful mental picture that conjures up!

    Mar 29th, 2014 - 05:57 pm - Link - Report abuse 0
  • toooldtodieyoung

    11 lsolde & 12 ChrisR

    Thank you both for that....................... I think

    ( Pass the mind bleach )

    Mar 29th, 2014 - 08:13 pm - Link - Report abuse 0
  • lsolde

    @12 ChrisR,

    Mar 29th, 2014 - 09:46 pm - Link - Report abuse 0
  • ilsen

    How many Juans to the dollar?
    What is the exchange rate in downtown Buenos Aires?
    Or Yuans for Juans?

    Mar 30th, 2014 - 01:02 am - Link - Report abuse 0
  • DanyBerger

    I guess boys that with 1 yuan you can buy a couple of kebabs no so bad...

    Mar 30th, 2014 - 05:13 am - Link - Report abuse 0
  • lsolde

    @12 ChrisR,
    Sorry Chris, l had a blonde moment!
    Was being pested by cats & kids,
    Now they're all sleeping!

    Mar 30th, 2014 - 10:07 am - Link - Report abuse 0
  • ilsen

    This article underlines the fact that London is the financial centre of the world.
    The Chinese will be doing their trade deals that decide the economic fate of much of Latin America, in London, with British advice and influence.
    Great news for the UK economy as the British will be sure to get their cut.
    Maybe buy another aircraft carrier!

    Mar 30th, 2014 - 12:32 pm - Link - Report abuse 0
  • DanyBerger


    “This article underlines the fact that London is the financial centre of the world.”

    Nope this article only shows how ruined you are that you have to sell Yuans or Juans to get a miserable fee to survive.

    Mar 30th, 2014 - 02:49 pm - Link - Report abuse 0
  • ilsen

    Bhaaahahaha! !!!! @ dunny. You so funny!

    Majorly crap answer.

    How is that parallel dollar working out for you?
    Don't like it?
    Fed up with worthless pesos?

    Come to London. Buy some Yuans instead! We own the market place...
    So you will have to ask nicely, maybe beg a little. .. Or at least pay our friends in the Paris Club their money first.
    see how it works dunny?
    Finally getting educated?

    Mar 30th, 2014 - 04:35 pm - Link - Report abuse 0
  • ChrisR

    @ 14 lsolde

    I am referring to the schism between my valuation of TMBOA “charms” as 2 yuan and the question is that pricing her above a 2 dollar whore? My reply was I seem to have overvalued TMBOA somewhat.

    It wasn’t until I re-read my post after your “Que” that I realised you may have thought, erroneously of course, that it might refer to someone who lives on the Falklands, not a million miles from you!

    May I say there was never, ever, any intention of that and that I hold you in great esteem AND the offer of a ride on the pillion of my Suzy GSX1250FA still stands!

    Grovel, grovel. Yours in perpetuity. :o)

    (I have only just seen your post @ 17 but I thought you would have a chuckle at this)

    Mar 30th, 2014 - 07:26 pm - Link - Report abuse 0
  • lsolde

    @21 ChrisR,
    No worries, Chris.
    Just a classic case of jumping to conclusions on my part.
    lf l'm ever up your way, l'll take you up on your offer!

    Mar 30th, 2014 - 08:41 pm - Link - Report abuse 0
  • ilsen

    Looks like Dany has bailed....

    Slippery fellows, these trolls!

    Still, I have him nailed on pretty much every other thread on this site!

    Mar 30th, 2014 - 10:05 pm - Link - Report abuse 0
  • Pete Bog

    @6 ChrisR

    Despite allegedly supporting RGs claim to the Falklands we still get loads of dosh from China.

    So they didn't feel like trusting INDEC..........

    I guess CFK will be re hiring that British Jet to take her to China after practising suck starting Boudou's Harley Davidson to redouble her efforts in China.........

    A horrible thought really.

    Apr 03rd, 2014 - 10:53 pm - Link - Report abuse 0
  • ChrisR

    @ 24 Pete Bog

    Many, many years ago I was an executive of a famous (at the time) engineering works and we had 1200 or so workers, so things got out of hand from time to time.

    One 19 Y/O male was really taken with one of the machine shop girls but she spurned him a number of times and one day there was a tremendous kerfuffle outside the ladies and this lad was the centre of it. It turns out he had a mirror on a wooden broom handle and had gone from cubicle to cubicle trying to find her. Well, he found her alright, hence the shouting.

    Next morning he came into work with severely blistered lips. He had attempted suicide when he arrived home on his Russian sidecar combination by sucking on the hot exhaust pipe!!!

    We sacked him of course.

    Apr 04th, 2014 - 10:00 pm - Link - Report abuse 0
  • ilsen

    I hereby give Dany Berger permission to suck on the burning exhaust pipe of truth.

    Apr 05th, 2014 - 02:55 am - Link - Report abuse 0
  • lsolde

    @25 ChrisR &
    @26 ilsen,
    l heartily second the motion!

    Apr 05th, 2014 - 09:14 am - Link - Report abuse 0
  • ilsen


    Apr 05th, 2014 - 01:15 pm - Link - Report abuse 0

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