Financial markets: What's next for China?

First came energy and telecoms, then insurance and airlines, and finally its big commercial banks. China admires the US economy and financial system and know that it is important to have both a properly functioning bond market and a robust stock market - Ken Koo, Citi Orient Securities Economically...

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Bibliographic Details
Published in:Euromoney 2019-06
Main Author: Wilson, Elliot
Format: Article
Language:English
Subjects:
Bond markets
Currency
Economic crisis
International finance
Investments
Private placement
Renminbi
Securities markets
Special drawing rights
Stock exchanges
Wealth management
Xi Jinping
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Summary:First came energy and telecoms, then insurance and airlines, and finally its big commercial banks. China admires the US economy and financial system and know that it is important to have both a properly functioning bond market and a robust stock market - Ken Koo, Citi Orient Securities Economically and politically, China enmeshed itself in the global community it had once eschewed, joining the World Trade Organization in 2001 and relaxing the renminbi’s strict peg to the dollar four years later. Wherever you are, be it Sydney or Singapore, you will have to buy Chinese bonds - Benjamin Lamberg, Crédit Agricole “They admire the US economy and financial system and know that it is important to have both a properly functioning bond market and a robust stock market,” says Koo, of Citi Orient Securities. [...]it will not rush the process, opting to “continue moving toward a ‘clean floating’ FX regime”, says Paul Mackel, head of emerging markets currency research at HSBC, as more global capital flows into mainland stocks and bonds.
ISSN:0014-2433