Citi, China Construction Bank and ICBC Bank joined the City of London RMB steering committee on Friday, says City of London spokesman Fei Wang.
The three banks join Bank of China, Barclays, Deutsche Bank, HSBC, JPMorgan, Royal Bank of Scotland and Standard Chartered on the committee.
The steering committee members are set to meet with Hong Kong authorities in December to continue to develop plans for London institutions to offer RMB services. The City of London committee last met with their Hong Kong counterparts in May.
City of London statistics show that 46% of global FX trading in RMB takes place in London, with customer deposits in the currency totalling RMB35 billion resting in UK accounts at the end of 2011.
Meanwhile, Europe represents 47% of global RMB payments outside of Hong Kong and China. There are also a number of offshore RMB bonds listed on exchanges in London, and several financial institutions in the City are already offering corporate banking and retail services for RMB, according to the City of London figures.
And while some FX market participants argue that London will need an RMB clearing bank if the City becomes a trading hub for the Chinese currency, City of London RMB steering committee policy chairman Stuart Fraser said in April that the creation of clearing bank is not being planned. Instead London will rely on Hong Kong to provide currency-conversion services to banks in the City.