Skip to main content

China's Emerging Financial Markets: Challenges and Global Impact

China's Emerging Financial Markets: Challenges and Global Impact

Martha Avery (Editor) , Min Zhu (Editor) , Jinqing Cai (Editor)

ISBN: 978-1-118-17902-4

Dec 2011

400 pages

Select type: E-Book

$110.99

Description

"The 19th century belonged to England, the 20th century belonged to the US and the 21st century belongs to China. Invest accordingly."
Warren Buffet

This comprehensive resource presents the views of China's most highly respected economists, bankers, and policy makers--along with opinions from Western authorities--on the current state of banking and finance in China. Tracing the history of China's banking and finance system and looking toward its future, the book offers valuable insight for financial service providers, bankers, private equity and hedge fund managers, and equity research and credit analysts.

Contributors to the book includes:
Jamie DimonChairman & CEO, JPMorgan Chase Bank
Guo ShuqingChairman, China Construction Bank
Paul VolckerFormer Chairman, U.S. Federal Reserve
Stephen S. RoachChairman, Morgan Stanley Asia
Wang DongmingChairman, CITIC Securities Co., Ltd; and many more!

Acknowledgments ix

Preface xi
Paul A. Volcker

Introduction xiii
Zhou Xiaochuan

Overview xxiii
Zhu Min

Biographies lix

SECTION 1 MACRO 1

Chapter 1 Fundamental Issues and Challenges Facing the Chinese Economy
Guo Shuqing 3

Chapter 2 China's Global Challenge
Stephen S. Roach 19

Chapter 3 China's High Savings, Investment, and Growth Rates, and Arguments for the Rapid Development of Financial Markets
Li Yang 35

Chapter 4 The Evolution of Banking and Finance in China: Domestic and International Aspects
Pieter Bottelier 53

SECTION 2 BANKING 71

Chapter 5 China's Banking Industry: Moving Forward in Accord with Reform and Opening
Wang Zhaoxing 73

Chapter 6 China's Financial Transformation and New Challenges
Stephen K. Green 91

Chapter 7 Commercial Banking Reform
Wang Jianxi 107

Chapter 8 China's Restructured Commercial Banks: Nomenklatura Accountability Serving Corporate Governance Reform?
Nicholas Calcina Howson 123

Chapter 9 Prospects for Chinese Banks: Why Global Banks Are Drawn To China
Jamie Dimon 165

Chapter 10 Agricultural Financing in China: the Difficult Transition from a Planned to a Market System
Chen Xiwen 181

Chapter 11 Retail Banking: Mastering Wealth Management to Capture Growth Opportunities
Hans-Paul Buerkner 203

Chapter 12 Growing China's Retail Banking Business
Ma Weihua 217

SECTION 3 CAPITAL MARKETS 235

Chapter 13 Shanghai Stock Exchange: History and Prospects
Zhou Qinye 237

Chapter 14 China's Securities Companies: Growth and Prospects
Wang Dongming 251

Chapter 15 China's Emerging Financial Markets: Challenges and Global Impact
Kevan Watts 263

Chapter 16 China's Capital Markets
Qi Bin 283

Chapter 17 Opening, Reforming, and Growing China's Bond Markets
Lin Yixiang 307

Chapter 18 China's Asset Management Industry
Fan Yonghong 329

Chapter 19 Venture Capital/Private Equity in China
John S. Wadsworth, Jr and Wu Shangzhi 343

SECTION 4 INSURANCE 361

Chapter 20 China's Insurance Markets: Reform, Growth, and Prospects
Yuan Li 363

Chapter 21 Strategy of China's Largest Life Insurance Company, China Life
Yang Chao 373

Chapter 22 The Emergence of China's Insurance Industry
Wu Yan 383

Chapter 23 China's Insurance Market
Jacques Kemp 397

Chapter 24 China's Social Security System: Issues and Prospects
Gao Xiqing 417

SECTION 5 MONETARY POLICY 431

Chapter 25 China's Monetary Policy: Facing the Challenges of Financial Globalization
Wu Xiaoling 433

Chapter 26 Convertibility of RMB-denominated Capital Accounts: Process and Experience
Hu Xiaolian 449

Chapter 27 China's Money, Bond, and FX Markets
Xie Duo 459

Chapter 28 Financial Futures Markets in China
Zhu Yuchen 481

Chapter 29 China's New Currency Regime and Onshore FX Markets
Stephen Green 491

SECTION 6 SERVICES 513

Chapter 30 China's Legal System and the Financial Industry: The Past 30 Years
Wu Zhipan 515

Chapter 31 Legal Services in the Field of Banking and Finance
Xiao Wei 529

Chapter 32 The Accounting Profession in China: Review and Outlook
James Turley 545

Chapter 33 China's Taxation and the Financial Industries
Xu Shanda 569

Index 583

"This is almost certainly the best survey of official views on China’s financial overhauls published in English… 

This collection is a good bookshelf companion for bankers and investors actively participating in China’s markets. It’s also a handy cheat sheet for those who have an upcoming meeting with Chinese officials and want to understand their views." 

– Rick Carew, Reporter for Wall Street Journal