Goldman Sachs suggests to open long position in a basket of banks in Hong Kong, which will benefit from Chinese Yuan (CNY or RMB) business in Hong Kong. The house says Hong Kong has unique advantages to build offshore CNY center because it offers solid, low-risk testing ground for China to carry out the eventual CNY capital account liberalization.  In addition, CNY related businesses could offer “quantum growth opportunities” for Hong Kong’s financial sector. Goldman Sachs suggests to buy BOC HK (Hong Kong stock code 2388), Standard Chartered (Hong Kong stock code 2888), Bank of East Asia (Hong Kong stock code 0023HK), Hang Seng Bank (Hong Kong stock code 0011), Wing Hang Bank (Hong Kong stock code 0302), and Dah Sing Bank (Hong Kong stock code 2356); which as an average are trading at 13.9X FY10 P/E, 1.9X FY10 P/B with FY10 EP.