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GLOBALink | A decade of transformation turns China's financial market into larger global presence

BEIJING, July 4 (Xinhua) -- China's financial market, young and fast-growing, is at a new outset to open up further to the global markets, building on the transformative steps it has taken in the past decade.

The country's equity market and bond market have expanded 238.9 percent and 444.3 percent over the past 10 years, now both the second largest worldwide.

The financial market has sharpened its appeal to global investors through reforms to render a more market-oriented and rules-based environment.

Foreign entities' holdings of domestic RMB financial assets have increased by 2.4 times compared with 10 years ago, while the share of the Chinese yuan in the International Monetary Fund's Special Drawing Rights basket has risen from 10.92 percent to 12.28 percent.

Produced by Xinhua Global Service