Meanwhile, the state-controlled China Development Bank is said to be negotiating a takeover of Shenzhen Development Bank, one of the few financial institutions controlled by foreigners.

ECONOMIST: The opening up of China��s economy goes into reverse

But potentially the most interesting development took place late last year when the central authorities gave Newbridge Capital the go-ahead to take a controlling stake in Shenzhen Development Bank.

ECONOMIST: Casino capital

The Chinese must watch not only their manufacturing exports but a financial sector that is birthing new market players such as Shenzhen Development Bank, transitioned into private hands by Tim Dattels' crew.

FORBES: Buck As Backdrop