China is set to issue RMB sovereign bonds in London. [Photo: jrj.com]

China is set to issue RMB sovereign bonds in London.

Chinese ambassador to Britain Liu Xiaoming said on Wednesday that China will support London to set up an offshore RMB market and push cooperation between the Shanghai and London stock exchanges.

In the past year, China's central bank has issued 5 billion yuan-denominated bills, the first ones to be issued by the central bank outside of China.

It was also a step in pushing forward with the internationalization of the Chinese currency.

The Chinese ambassador said he expects more economic cooperation between China and Britain this year, especially in the fields of finance, high-speed railway, and nuclear energy.