On June 1, 2009 the Study Times wrote that China should push Reminbi regionalization starting from border trade settlements and direct investment in neighboring countries. Study Times is the journal of the School of the CCPC. The article believes that this step is the key to Asian economy. In doing so, “China should leverage the existing bilateral currency settlement agreements with Korea, Hong Kong and Malaysia to further deepen and expand RMB cooperation in the region. Moreover, China should take advantage of financial markets in Hong Kong in engaging in RMB offshore business, thus making Hong Kong the hub for distribution of RMB to neighboring countries.”
Source: Study Times, June 1, 2009
http://www.studytimes.com.cn/WebPage/ny1.aspx?act=1&id=2685&nid=9756&bid=4&page=1