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Osborne hails 'momentous progress' in UK-China links

George Osborne hailed the "momentous progress" in links between the UK and China as he set out his ambitions for the City of London to be the major offshore hub for trade in the Chinese currency.

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China Premier Li Keqiang arrives in London for talks

The UK is overhauling its visa system to make it easier for Chinese tourists and businesses to visit the country, interior minister Theresa May said on Monday, marking the start of a visit by Chinese Premier Li Keqiang.

Prime Minister David Cameron with Mr Keqiang. Credit: Stefan Rousseau/PA Archive/Press Association Images

Mr Li has arrived in London three-day official visit which includes an audience with Queen Elizabeth and is aimed at putting aside a recent history of political tension and building closer trade and commercial ties.

Government officials keen to tap into the spending power of tourists from China's expanding middle class and encourage businesses from the world's second-largest economy to deal with Britain.

The Home Office announced a streamlined application process for Chinese visitors and a service to grant them visas within 24 hours.

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