Bank of England must promote RMB trading, warns Chinese official

Bank of England

The Bank of England should engage in greater dialogue and co-operation with Chinese authorities to promote the internationalisation of renminbi, including setting up a swap line with the People's Bank of China (PBoC), a senior Chinese official has warned.

Speaking at an event hosted by the City of London Corporation last night, Xia Bin, a former member of the monetary policy committee of the PBoC and now director of the Finance Institute of the State Council Development Research Center, and

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