There are few places in the world where one can make a payment or profitable investment in the Chinese currency. Presently, the yuan is not convertible currency due to China's government policy. However, it has tended to reverse in the opposite direction recently. The Chinese Communist Party has changed the course to the globalization of the national currency. Now the world's leading financial centers are competing for being the first place to offer yuan trading. In Europe, it is London, Luxemburg, Paris, Frankfurt am Main, and Zurich. In Asia, it is Hong Kong, Singapore, Taipei, and Sidney. Officially, the Empire's authorities give a chance to everyone, but do not express a preference. Experts are sure that Beijing is not interested to choose just one financial center. The country needs its currency to be used everywhere. Taking into account these circumstances, it is clear that the wishes do not match the reality. Therefore, analysts consider this issue more diplomatic than financial. Today, Hong Kong occupies the leading position in operations with the yuan. The local banks are allowed to open yuan savings accounts. In September, the People’s Bank of China and the ECB signed a currency swap agreement worth 350 billion yuan. Also the Bank of China agreed to establish a bilateral currency swap lines with Singapore (50 billion yuan) and London (80 billion yuan). The Chinese government's goal is to increase the yuan overseas reserves. The enthusiasm of the financial centers around the yuan operations is favorable for China.
