Yuan overtakes euro as second most used trade financed currency

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NDF's trade already...

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Wasn't referring to the currency, more so actual country investment outside of the dim sum bonds, foreign listed stocks, and some other bank debt. During the Plenum (although nothing of substance comes out of that) premier Li made a lot of statements regarding attacking corruption and promoting markets. Essentially trying to position China in the world of finance, but as with everything else China says, it's more "believe it when I see it".

FDI is very different from portfolio investment, very different. I should have been more clear with what I was referring to. Even so, those figures are just gross inflows and mainly due to surrounding nations investment. If you compare those figures to other countries, considering the size and population of China, it's somewhat underwhelming. You can scan through country by country here.

Regardless, I understand the CPC is trying to slowly control the flow of foreign investment while they change growth models. That being said, the market is still "believe it when I see it" as the political elite and SOEs still control most of the power and monopolies in the country, and it is unlikely they would open up to outside portfolio investment when they can issue through SPVs to other SOEs and reap the returns.