Shenzhen is allowed to obtain funds on the global market

A big step for the opening of China's financial markets: Shenzhen has become the first Chinese city to issue a bond to international investors. Until now, borrowing by Chinese municipalities has been an internal affair. Foreign participation could bring a new professionalism to local government financing. But it also ties the global financial market more closely to China – for better or worse.

Last updated: 24. July 2025