Singapore is trying to do offshore RMB businesses. Singapore Exchange is active in developing products that are related to China. It plans to use the hosting service of data center of Hong Kong Exchange to enter Hong Kong to explore business of derivative products. ANBOUND research team believes that compared to Hong Kong, Singapore's active behaviors including developing offshore RMB derivative products and entering other places, even Hong Kong which is offshore RMB center, are worth praising. If Hong Kong does not work hard, the pricing power of offshore RMB will probably fall into other’s hands. If that happens, Hong Kong may not be able to maintain its position as an off-shores RMB center by the policies of central government.