A package of measures announced Wednesday by China's central bank gave the U.K. a boost in its bid to be a leading center for yuan trading.

The moves, which came as Chinese Premier Li Keqiangtours the U.K. this week, highlight London's important role as China pushes to increase use of the yuan as an international currency.

The People's Bank of China said it is allowing direct exchanges between the yuan and the pound in an effort to expand bilateral trade. Previously, traders have had to exchange the currencies through the U.S. dollar, which adds to transaction costs.

The central bank also said it has chosen China Construction Bank Corp., the country's second-largest bank by assets, as the first yuan-clearing bank in London and the first in any Western country. That means the bank can process transactions in the yuan, also known as the renminbi, and should make it easier for companies in the U.K. to use the Chinese currency.

Several global financial centers are vying to be trading hubs for the yuan, including Luxembourg, Sydney and Singapore. London, the world's biggest foreign-currency trading center, has made a push to get a significant chunk of the yuan business, which is expected to grow strongly along with China's economy. In 2013, yuan foreign-exchange trading in London reached $25.3 billion a day, up 50% compared with 2012, according to data released Wednesday by the City of London Corp.