London sees Hong Kong as a partner in terms of offshore yuan trading, the Lord Mayor of the City of London David Wootton said on September 14 during a visit to Hong Kong.

In April, London became an offshore yuan trading center. Wootton said London wishes to be the Western hub for yuan trading but doesn't aim to compete with Hong Kong. He would like to see Hong Kong as a partner rather than a competitor.

Wootton believed the partnership between London and Hong Kong is of mutual benefit. He said discussions between the two cities occur in the form of London-Hong Kong Yuan Forum. One session took place earlier this year and another is scheduled for December.

The City of London is the historical center of London. Covering only 1 square mile, it is Europe's financial center.