

Photo taken on Jan 29, 2016 shows the UK and EU flags outside the European Commission headquarters in Brussels, Belgium. [Photo/Xinhua]
However, some experts believe Brexit will only have a limited effect on China's financial markets and will even likely boost the yuan's status as a global currency.
"The decision may actually accelerate the competition between other European cities for yuan businesses, and, as a result, Britain may have to provide Chinese institutions with better terms," Xiang Songzuo, deputy director of the International Monetary Institute at Renmin University, told Xinhua News Agency.
Lian Ping, chief economist of Bank of Communications, said the status of London as an offshore yuan trading center will be affected, although to what extent remains to be seen. So, this could open up opportunities for yuan business in Frankfurt, Luxembourg or Zurich.
Deng Haiqing, chief economist with JZ Securities Co, a brokerage, said Brexit could be a favorable factor that offers major strategic opportunities for China.
"After exiting the EU, the UK will have to find new markets. Thus, it needs to strengthen the cooperation with countries like China," Deng said.
"It also means the UK, which has broken away from the inefficient decision-making mechanism of the EU, can work more independently and more effectively. And the EU might be forced to improve efficiency as well," he said.
Zhang Xiaomin contributed to the story.
![]() |
Five made-in-China hi-tech breakthroughs
Beijing Style: Hot pants
HK-Zhuhai-Macao Bridge to open to traffic
China opens its first combined transport service to Nepal
Students take stylish bikini graduations photos
Charming dancing students pose for graduation photos
Guizhou, Yunnan section of Shanghai-Kunming railway connected
Naked models transformed into landscapes, birds and even DRAGONS by body painting artist
World’s biggest cruise ship Harmony of the Seas to start maiden voyage
Top 20 hottest women in the world in 2014
Top 10 hardest languages to learn
10 Chinese female stars with most beautiful faces
China’s Top 10 Unique Bridges, Highways and Roads
Dog meat delicacy
Don’t group ‘Asian Americans’ together
Shark protection needs more than losing taste for fin soup
When Western junk food hits Chinese tastebuds, unexpected new flavors emergeDay|Week