China moves to lure US$3t in capital from abroad by 2025: Citi

Hong Kong

CHINA has opened a path for a transformation of its financial markets that could see them match the US markets in size and lure more than US$3 trillion in capital from abroad by 2025, according to a study by Citigroup Inc.

While China's initial efforts to internationalise its currency hit a bump in 2015, policymakers have shifted tack to focus on developing domestic financial markets rather than opening up the capital account, Citigroup analysts led by Liu Li-Gang, chief China economist for the bank in Hong Kong, wrote in a note.