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The government gives them billions of renminbi [yuan] every year.
There are two types of Renminbi funds: domestic funds and foreign-invested funds.
Beijing has restricted the withdrawal of renminbi from overseas branches of Chinese banks.
The immediate effect of renminbi appreciation will be to raise prices for U.S. consumers.
Salaries vary according to rank and region but most amount to only several thousands of renminbi.
The government estimated the storm caused damages as costing billions of renminbi.
On cue, plans are afoot to broaden the range of renminbi investments available in the city.
"For the sake of China, I am a strong supporter of renminbi appreciation," he told me.
While the volume of renminbi trading is relatively small at present, he said: "It makes sense for the UK to do whatever it can to facilitate the trading of renminbi in London".
It is called RMB City, the title an abbreviation of renminbi, China's currency, also known as the yuan.
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There are plenty of restrictions, and a global rash of renminbi-denominated deals is a distant prospect.
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