LONDON - China plays down key UK projects as ‘golden age’ fades. Beijing is playing down a series of high-profile projects to foster closer ties with the UK amid mounting concerns the “golden age” between the two countries touted by the previous British government is no longer living up to its billing.
Chinese officials said there were now no active plans to sell further renminbi-denominated sovereign bonds after last summer’s landmark Rmb3bn auction by the Chinese finance ministry, which raised hopes about a series of follow-up deals as part of the internationalisation of China’s currency.
In addition, Chinese financiers said a scheme to link the London and Shanghai stock exchanges had lost momentum, cooling prospects of a Sino-British project advocated by the former UK chancellor, George Osborne, who made increasing commercial ties with Beijing a centrepiece of his six-year tenure. (Financial Times)