China's Emerging Financial Markets Challenges and Global Impact

Author: Martha Avery; Min Zhu; Jinqing Cai
Publisher: John Wiley & Sons
ISBN: 9780470822494
Published In: May 2009
Format: Hardback , 400 pages
Jurisdiction: China ? Disclaimer:
Countri(es) stated herein are used as reference only

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"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 Dimon — Chairman & CEO, JPMorgan Chase Bank , Guo Shuqing — Chairman, China Construction Bank , Paul Volcker — Former Chairman, U.S. Federal Reserve, Stephen S. Roach — Chairman, Morgan Stanley Asia, Wang Dongming — Chairman, CITIC Securities Co., Ltd and many more!

"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

Acknowledgments.

Preface (Paul A. Volcker).

Introduction (Zhou Xiaochuan).

Overview (Zhu Min).

Biographies.

SECTION 1 MACRO

Chapter 1 Fundamental Issues and Challenges Facing the Chinese Economy (Guo Shuqing).

Chapter 2 China’s Global Challenge (Stephen S. Roach).

Chapter 3 China’s High Savings, Investment, and Growth Rates, and Arguments for the Rapid Development of Financial Markets (Li Yang).

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

SECTION 2 BANKING

Chapter 5 China’s Banking Industry: Moving Forward in Accord with Reform and Opening (Wang Zhaoxing).

Chapter 6 China’s Financial Transformation and New Challenges (Stephen K. Green).

Chapter 7 Commercial Banking Reform (Wang Jianxi).

Chapter 8 China’s Restructured Commercial Banks: Nomenklatura Accountability Serving Corporate Governance Reform (Nicholas Calcina Howson).

Chapter 9 Prospects for Chinese Banks: Why Global Banks Are Drawn To China (Jamie Dimon).

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

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

Chapter 12 Growing China’s Retail Banking Business (Ma Weihua).

SECTION 3 CAPITAL MARKETS

Chapter 13 Shanghai Stock Exchange: History and Prospects (Zhou Qinye).

Chapter 14 China’s Securities Companies: Growth and Prospects (Wang Dongming).

Chapter 15 China’s Emerging Financial Markets: Challenges and Global Impact (Kevan Watts).

Chapter 16 China’s Capital Markets (Qi Bin).

Chapter 17 Opening, Reforming, and Growing China’s Bond Markets (Lin Yixiang).

Chapter 18 China’s Asset Management Industry (Fan Yonghong).

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

SECTION 4 INSURANCE

Chapter 20 China’s Insurance Markets: Reform, Growth, and Prospects (Yuan Li).

Chapter 21 Strategy of China’s Largest Life Insurance Company, China Life (Yang Chao).

Chapter 22 The Emergence of China’s Insurance Industry (Wu Yan).

Chapter 23 China’s Insurance Market (Jacques Kemp).

Chapter 24 China’s Social Security System: Issues and Prospects (Gao Xiqing).

SECTION 5 MONETARY POLICY

Chapter 25 China’s Monetary Policy: Facing the Challenges of Financial Globalization (Wu Xiaoling).

Chapter 26 Convertibility of RMB-denominated Capital Accounts: Process and Experience (Hu Xiaolian).

Chapter 27 China’s Money, Bond, and FX Markets (Xie Duo).

Chapter 28 Financial Futures Markets in China (Zhu Yuchen).

Chapter 29 China’s New Currency Regime and Onshore FX Markets (Stephen Green).

SECTION 6 SERVICES

Chapter 30 China’s Legal System and the Financial Industry: The Past 30 Years (Wu Zhipan).

Chapter 31 Legal Services in the Field of Banking and Finance (Xiao Wei).

Chapter 32 The Accounting Profession in China: Review and Outlook (James Turley).

Chapter 33 China’s Taxation and the Financial Industries (Xu Shanda).

Index.

ZHU Min is Group Executive Vice President of the Bank of China, responsible for group finance, internal control, legal and compliance, strategy and research. He joined the Bank of China in 1996, and led the group restructuring and the US$15 billion IPO in 2006, and the Bank of China Hong Kong restructuring and IPO in 2002. Prior to joining the Bank of China, Mr. Zhu worked as an Economist at the World Bank in Washington, D.C. for six years, before which he taught economics at Johns Hopkins University and Fudan University. Mr. Zhu received a Ph.D. and an M.A. in economics from Johns Hopkins University, an M.P.A. from the Woodrow Wilson School of Public and International Affairs of Princeton University, and a B.A. in economics from Fudan University.

CAI Jinqing is a partner of Brunswick Group, an international financial communication firm. She advises multinational corporations and Chinese companies on strategic communication issues as well as on cross-border Merger & Acquisition transactions in the region. From 1993-2002, she worked in New York and Hong Kong in management consulting and venture capital focusing on China investments. Ms. Cai graduated from Wellesley College with a Bachelor of Arts degree and obtained her Master of Public Affairs from the Woodrow Wilson School of International and Public Affairs of Princeton University.

Martha Avery is President, Avery Press, Inc., which works with Chinese publishers and individuals in bringing Chinese intellectual property to a western market. She served as General Manager for John Wiley in China from 1982 to 1990, following four years in the Commerce Department handling China trade in the 1970s, an MBA at the Wharton School, and a period in Warburg Paribas Becker in Wall Street. She established the Publishing Program for the Soros Foundation in Mongolia, and went on to serve in the Budapest offices of OSI. Throughout her career, Ms. Avery has continued to translate Chinese fiction and non-fiction and to author books.