Last weekend Chinese state officials hunkered down in Beijing to thrash out a financial road map for the next five years. While details remain thin on the ground, one thing is clear: China is keen for increased competition in the financial sector.

Led by Premier Wen Jiaobao, the Financial Work Conference is held once every five years, and has great significance for the global financial market. At the last conference in 2007, Jiaobao launched the China Investment Corporation onto the asset management market. CIC is now one of the world's largest sovereign wealth funds.