Financial institutions in China, including banks, received a total of USD 8.29 bn in net foreign direct investment in the full year of 2014, the State Administration of Foreign Exchange (SAFE) announced on March 4. Also, Chinese financial firms made USD 6.12 bn in net outbound direct investment during the same period.

Meanwhile, SAFE said it would simplify foreign exchange rules for cross-border direct investment to further encourage investment and rouse the country's slowing economy. SAFE said foreign exchange registration for foreign direct investment and outbound direct investment would no longer need the administrative approval of the foreign exchange regulator.

China’s foreign direct investment continued to maintain a high rate growth, with an increase of 40 percent in January.

As fears of a global currency war grow, all eyes in Asia are on whether China will devalue its currency to avert a sharper economic slowdown.

CPPCC member, People's Bank of China Deputy Governor Yi Gang said on March 3 that even in the face of the prolonged strong performance of the US dollar, China will not devalue its currency. In general, China is "still able to sustain a relatively high rate of economic growth".

He said China has underlying strength in international economic activity and trade. There is also a relatively large market. In terms of expectations and the market situation, the Renminbi has the fundamentals to remain stable.

Moving on to RMB internationalization, Yi Gang said that the country will steadily push forward the internationalization of RMB this year. He said that RMB internationalization is a market-oriented process, as well as a market behavior. A number of countries and regions are ready to sign currency swap agreements with China this year.