CHINA’S sound economic fundamentals, pro-growth policies, and continuous moves to open up markets will make yuan assets more attractive to foreign investors, the Securities Times said in a commentary yesterday. The China Securities Journal also said in an article that short-term capital outflows won’t change the long-term appeal of China assets. In addition, 10 bank wealth management companies expressed confidence in China’s capital markets. Over the past years, foreign institutional investors have been accelerating asset allocation toward China, reflecting their confidence in China’s economic fundamentals, the Securities Times said. With further policies being rolled out to stabilize growth, the safe-haven appeal of yuan assets will only increase, the newspaper said. Both the Securities Times and the China Securities Journal cited recent Swiss listing plans by Chinese companies as signs of the government’s commitment to opening up to foreign investors. Separately, 10 wealth management companies affiliated to Chinese lenders such as Bank of China and Bank of Communications said they are optimistic about China’s capital markets over the long term, and are asking investors to view short-term volatility rationally, according to the Shanghai Securities News. (SD-Agencies) | 