As of the end of 2005, China’s outstanding balance of government bonds reached 2.7 trillion yuan, and that of foreign debt and house mortgage loans amounted to over $ billion and 1.84 trillion yuan respectively. China’s financial assets totaled 37.5 trillion yuan, 2.06 times of the GDP.
It is the financial reform and opening up that has enabled the Chinese financial institutions to improve its business performance and management level amid market competition, especially in competition with the foreign institutions. At the same time, the foreign financial institutions has also benefited from the opening up of the Chinese financial industry.