Market fundamentals in focus on opening-up

It makes sense that foreign banks, money managers and other financial firms are eager to do business in China's domestic markets. In October 2019, the Credit Suisse Global Wealth Report calculated that 100 million Chinese are now in the top 10 percent of global wealth, compared to 99 million Americans.

China also has 4.4 million dollar-millionaires, second largest in the world. Despite increasing consumption in recent years, China still saves about 40 percent of GDP.Chinese households are sitting on about 90 trillion yuan ($13.1 trillion) of investable assets.

Deloitte estimates that China's potential "addressable" retail financial wealth, even ignoring future GDP growth, amounts to more than $30 trillion. Foreign financial companies see great opportunities in managing even a small part of this money.