One of the motivations behind China’s historic decision to open its economy 40 years ago was the need to attract foreign direct investment. Strong inflows followed and helped transform the Chinese economy. But these are now starting to be eclipsed by a newer font of capital that is surging into the country’s financial markets.
40年前，中國作出了開放經濟這一歷史性決定，其背后動機之一是需要吸引外國直接投資。隨之而來的強勁投資幫助改變了中國經濟。但現在有一種更新的資本正涌入中國的金融市場，其風頭蓋過了之前的那種投資。
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