guys would have it's advantages

[Mike Hussey]

Queenan has a undercover cop with Frank Costello's business dealing with Chinamen:

Ellerby: You know, direct contact with your guys would have it's advantages.
Queenan: Not to my guy.

What does "it" refer to?

Source: "The Departed" (a 2006 American crime film directed by Martin Scorsese and written by William Monahan)

 

[Rover_KE]

That should be its advantages.

It refers to direct contact.

Again, please note that I have amended your source.

 

[Tdol]

Also, the term used for Chinese people is not regarded as acceptable usage nowadays.

 

[jutfrank]

They use the term Chinamen in the film, regardless of who finds it acceptable.

 

[Charlie Bernstein]

They use the term Chinamen in the film, regardless of who finds it acceptable.

Yup. So including it in a quote it would be fine. In summary narrative, Mike could say something like Chinese gangters.

 

[Tdol]

I was merely warning that using it outside the quotation might be problematic.