The latest report published by the City of London corporation said an average of $85 billion of renminbi was exchanged in London every day in the second quarter of 2019.

Catherine McGuinness, Policy chair at the City of London Corporation, said that despite the lack of clarity over Brexit, the outlook for London remains good.

"Naturally we've also grown to become the leading hub for RMB trading, with levels of the Chinese currency going through London far outstripping that of any other financial centre," she said.