By Sam Xu
As one of the world’s biggest renminbi hubs outside of China, the UK stands to play a pivotal role in the ‘One Belt, One Road’ (OBOR) initiative.
Chinese investors, according to our conversations with clients, are not that concerned about Brexit and are eager to reinforce trade ties with the UK.
Since its launch in 2013, OBOR – also known as ‘belt and road’ – has achieved steady progress and global influence, amassing project contracts worth USD926 billion in over 60 countries, with the UK serving as a key financial hub. Most banks in the West, including Standard Chartered, now use London as their renminbi centre.
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