Long-term investors who believe strongly in the future rise of the renminbi will be holding the faith, despite last week’s news that manufacturing was slowing indicating that China could be in for a bumpy landing.

For these investors, who agree with the widely held view that the renminbi remains grossly undervalued against the US dollar in terms of purchasing power parity and other measures, buying either renminbi currency or bonds offers an opportunity to profit from the currency’s inevitable rise.

Until recently, however, overseas investors had little or no opportunity to invest in that trend. But since 2010, a combination of factors has changed the investment landscape. According to the Hong Kong Monetary Authority, renminbi deposits in Hong Kong totalled Rmb618.5bn ($97bn) at the end of October, down 0.6 per cent from September but still triple the amount a year ago – and 2010 marked a jump in the issuance of the “dim sum bond” market, bonds issued in renminbi in Hong Kong.