China has surprisingly gone quiet on Yuan appreciation talk this week but selling pressure through both the onshore and offshore forwards is starting to intensify. This may be just due to the upcoming G20 meeting but some very good judges say they are ready to go. We might not see a one-off revaluation like we saw in 2005 but they may widen the trading band and recommence gradual appreciation.
This is a hard one to trade outside of a bank that does NDFs. (Short)USD/MYR, USD/KRW or USD/TWD I would suggest are the best way to play if entry to these markets is available to you.