BEIJING, Jan. 8 (Xinhua) -- China's GDP is expected to grow by 9.5 percent in 2021, said Zhu Tong, president of Deutsche Bank (China) at a press conference on Thursday.
She added that foreign investors will increase investment in China. With rapid growth and high interest rate, China's capital market will remain attractive to foreign investors. As the second largest onshore bond market in the world, the country's bond market is expected to see 1.2 trillion yuan (about 0.19 trillion U.S. dollars) capital inflows in 2021.
The magnet effect can be attributed to two factors. For one, China will play an increasingly larger role in the global economic and financial system. For another, China has been stepping up its opening-up of financial market.
As a market player, Deutsche Bank has benefited from its business in China. It has made major breakthroughs in debt financing since the bank was approved as a class A underwriter in September 2019.
The bank also helped China's Ministry of Finance (MoF) to issue 6 billion USD-denominated sovereign bonds and 4 billion euro-denominated sovereign bonds in 2020.
According to Zhu, China's commitment to opening wider provides great opportunities for foreign banks in their business in China and cross-border business.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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