UK businesses may now have more confidence in transferring money overseas to China, as the country has opened up significantly in recent years.

Andrea Loddo, product and contracts manager at Hayes & Jarvis, says the 2008 Olympic Games in Beijing and China's emergence as a world power has made it more common for westerners to interact with their Asian counterparts.

He offers the example of a trip to China becoming a "much more mainstream experience" since these events.

Firms could take advantage of the strengthening relationship by concluding deals with Chinese companies that require the transfer of money overseas.

And those who send staff on business trips to the country may find that, as well as economic benefits, the chance to enjoy one of the world's most cultural and historic nations presents itself.

American Express has recently made foreign exchange in the form of the Chinese yuan available in the UK for the first time.

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