China wants to build up its banks’ international operations. And the British are welcoming an expansion of these activities in London – offering to treat Chinese banks operating there as branches (subject to Chinese regulation) rather than as subsidiaries (subject to British regulation).
中国希望建立其银行的国际经营网络。而英国欢迎这些活动在伦敦的扩张——将向在英经营的种子银行提供分行待遇（受中国监管约束），而不按子公司对待（受英国监管约束）。