10  See Zhang, Z. et al. (2017): “China’s Bond Market: Deeper, Broader, More Complex”, HSBC Global Research, March. 9  4. As in other areas, important efforts towards greater transparency have been made by the Chinese authorities recently.
In this respect, it is worth to note the progress made in monetary, financial and external statistics, as well as the decision to subscribe to the IMF’s Special Data Dissemination Standard and Coordinated Portfolio Investment Survey, and to report for the first time the currency composition of a representative portion of China’s reserves and international banking liabilities.11 However, important data gaps remain.