Britain and China took fresh steps to improve their economic relationship on Thursday, agreeing to boost Chinese infrastructure investment in the UK and London’s role as an offshore trading centre for the renminbi.
Despite the strong differences that have emerged because of the UK’s criticism of China’s human rights record, British officials said there had been “good atmospherics” at a summit in London between Wang Qishan, Chinese vice-premier, and George Osborne, chancellor.
As the Financial Times reported earlier this week, Mr Wang’s visit marked the first time that China had given formal backing to moves by UK banks and financial institutions to develop the UK as an offshore financial centre for renminbi trading.
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