Brenton, who served as Britain’s envoy to Moscow in 2004-2008 and is an adviser to Lloyd’s insurance market, said he expected "big announcements" during Xi’s visit four-day stay.
"The City, a major financial center, wants to become a center for trading in the Renminbi [Chinese official currency colloquially known as the yuan] in Europe and in the world," Brenton said.
The ex-diplomat highlighted Chinese investment in the British nuclear industry, which raised concerns among experts last week.
China General Nuclear Corporation (CGN) and China National Nuclear Corporation (CNNC) are said to be vying to finalize a deal to buy up to 40 percent of Hinkley Point’s stake, valued at $24.23 billion during Xi’s October 20-23 visit to Britain.
China is boosting efforts to internationalize its currency in an effort to join the International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket.