Few would remember why Hong Kong became the first city involved in the yuan business in early 2004. It came about after an agreement signed between the central banks of Hong Kong and the mainland in November 2003. Back then, Beijing had not yet decided to let the yuan become an international currency. That only occurred in 2009.
via Business feed http://www.scmp.com/business/article/1226128/race-yuan-trade-hong-kong-must-raise-its-game
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