Key takeaways
- Following the latest Trump-Xi summit, China pledged further opening of its financial market to companies from all countries, including the U.S.
- Mainland Chinese with more than $125,000 in bankable assets hold a combined $27 trillion in wealth.
- Such products could, in six to 12 months, meet Beijing's threshold for letting mainland China-based investors participate, Dai said.
After the Trump-Xi summit in September, China said it would approve applications from all foreign financial institutions to operate in the country. Citi last month received China's approval to operate a wholly owned securities company.
