In a speech at the London-Hong Kong renmimbi (RMB) conference,  the Commercial Secretary to the Treasury, Lord Sassoon, said London is perfectly placed to be the “Western Hub” for the international RMB market. This role will be important to the UK’s financial services industry and it will also improve the competitiveness of UK and European exporters when trading with China. London and Hong-Kong are working together to establish a common platform for the international RMB market. (Source: Lord Sassoon Speaks on RMB Market Future)