Media playback is unsupported on your device

George Osborne: China's RMB 'will become as familiar as dollar'

15 October 2013 Last updated at 12:52 BST

Chancellor George Osborne says he expects the Chinese currency, the RMB, to become almost as familiar as the US dollar in his lifetime in the UK.

He told the BBC's Linda Yueh there would be an increase in Chinese finance, bonds and banks all operating in the UK.