Caixin | The country’s National Development and Reform Commission, together with the Ministry of Commerce, announced at the end of June a shortened “negative list” for foreign investors, which will come into effect on July 28. The newly shortened list removes restrictions on entrance to primary, secondary, and tertiary industries, and includes 22 opening-up measures in important areas, including finance, transportation and logistics, trade circulation, professional services, manufacturing, infrastructure, energy, natural resources and agriculture.

For both China and the US, government policy is more important than monetary policy right now. “Interesting that for China, many of its perceived problems are being dealt with through greater use of technology”, explains Mark Tinker, Head of Framlington Equities Asia at AXA IM.

China has the world’s second largest economy and, at circa US$12tn, the world’s third largest bond market. According to AXA IM’ findings this market will continue to grow and transform with the rest of the economy, which “we believe will become more capital-market oriented and open to foreign investors