So-called "dim sum" bonds, denominated in the Chinese currency, the renminbi, are being sold outside the People's Republic for the first time.

The China Construction Bank, the world's second largest by market capitalisation, is doing it in London, in a move which Chancellor George Osborne has heralded as a landmark moment.

Paola Subacchi, research director for international economics at Chatham House, told Today business presenter Simon Jack "it is a very sensible strategy to be in this business in a key financial centre like London".

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