UK PM opens London-China FX link with R5

During state visit to China, Theresa May announces the link allowing Chinese banks to trade FX offshore is live

shanghai-web
Belt and Road: R5-SHCH Connect enhances Chinese banks’ access to global FX market and advances renminbi’s internationalisation

UK Prime Minister Theresa May has announced the launch of a cross-trading link between emerging markets trading platform R5FX and Shanghai Clearing House, enabling local Chinese banks to trade foreign exchange offshore.

Prior to the launch of the cross-connect system, banks based in China had little opportunity to trade foreign exchange offshore. With R5-SHCH Connect, which is part of the Belt and Road financial infrastructure initiative, many of these banks will be able to trade FX offshore

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