Bond Connect's launch is a high point for international investors looking to access China and buy Chinese equities.
For China it is the next stage of its integration with the world’s capital markets and builds a stronger platform for sustainable growth. It also highlights a country with an appetite for steady and positive reform. In fact, it reminds me of a recent article by my colleague Ivan Nicora on how reform can boost a country’s capital markets and facilitate more opportunities.
I was fortunate to be in Hong Kong on July 1 to witness the events marking the 20th anniversary of the territory’s return to China. They ended with a spectacular and very noisy fireworks display in Victoria Harbour.
It was impressive, but you would expect nothing less. After all, it was the Chinese who invented fireworks two millennia ago.