On 20 July 2010, the Hong Kong Special Administrative Region and Beijing signed an historic agreement allowing Hong Kong to become the first yuan clearing centre outside mainland China. Asia Insurance Review reports that insurers and wealth management companies stand to gain from the agreement.

China Life Insurance (Overseas) Company Limited became the first insurance company to launch an insurance policy denominated in yuan. HSBC Insurance is allowing new customers of its WealthSave (Renminbi) Protection plan to pay their annual premiums in either yuan or Hong Kong dollars. Standard Chartered Bank will also shortly offer structured investment products for retail and wholesale clients in Hong Kong that will pay interest in yuan.

A potential long-term outcome of Hong Kong becoming a yuan clearing centre is that it may develop its own exchange and interest rates for the yuan as an offshore market, distinct from the market in mainland China.