China’s Banking and Financial Markets

"e;This is a very timely book. With the recapitalization and reform of China's banking sector now well under way, the banks are on the brink of a new era of growth and expansion. This work is the definitive reference on the banking sector in China, and is an essential tool for anyone seeking to understand the dynamics of financial intermediation on the Mainland. It sets out the facts, free of the judgment calls that so often cloud the true picture of the health of China's banking system."e; --Dr. David K.P. Li, Chairman and Chief Executive, The Bank of East Asia, Limited "e;As China continues its impressive pace of economic growth, the rest of the world is constantly reassessing the opportunities and challenges it presents. This book is the first official report on the status of China's financial services industry and financial markets. For the first time, the international community gets access to the same information that the Chinese government uses in making key policies. Such unique insights make this book an essential read for business leaders, investors, policy makers, scholars, and anyone who is interested in understanding China's profound impact on businesses and consumers globally."e; --Maurice R. Greenberg, Chairman & CEO, C.V. Starr & Co. "e;This is the first book that introduces all aspects of the Chinese banking and financial markets to international audiences. From its developmental history to its contemporary challenges, China's banking and finance markets are presented, explored and analyzed with great detail and in great depth. Both the richness of the data and the scholarly strength of the methodology are a milestone. China's increasing participation in global financial markets makes this book a must read for all financial professionals worldwide."e; --Lefei Liu, Chief Investment Officer, ChinaLife Insurance

"This is a very timely book. With the recapitalization and reformof China's banking sector now well under way, the banks are on thebrink of a new era of growth and expansion. This work is thedefinitive reference on the banking sector in China, and is anessential tool for anyone seeking to understand the dynamics offinancial intermediation on the Mainland. It sets out the factsfree of the judgment calls that so often cloud the true picture ofthe health of China's banking system."Dr. David K.P. Li, Chairman and Chief Executive, The Bank of EastAsia, Limited"As China continues its impressive pace of economic growth, therest of the world is constantly reassessing the opportunities andchallenges it presents. This book is the first official report onthe status of China's financial services industry and financialmarkets. For the first time, the international community getsaccess to the same information that the Chinese government uses inmaking key policies. Such unique insights make this book anessential read for business leaders, investors, policy makersscholars, and anyone who is interested in understanding China'sprofound impact on businesses and consumers globally."Maurice R. Greenberg, Chairman & CEO, C.V. Starr &Co."This is the first book that introduces all aspects of the Chinesebanking and financial markets to international audiences. From itsdevelopmental history to its contemporary challenges, China'sbanking and finance markets are presented, explored and analyzedwith great detail and in great depth. Both the richness of the dataand the scholarly strength of the methodology are a milestone.China's increasing participation in global financial markets makesthis book a must read for all financial professionalsworldwide."Lefei Liu, Chief Investment Officer, ChinaLife Insurance

Preface.Acknowledgments.Contributors.Advisory Committee.About the Editors.About the Sponsor.Part I. Macro-economy and Policies.1. The Macroeconomic Situation.2. Financial Industry Performance and Monetary PolicyOperation.Appendix to Part I -- An Analysis of China's FundFlow in 2004.Part II. Financial Institutions.3. The Banking Industry.4. The Insurance Industry.5. The Trust Industry.6. The Securities Industry.Appendix I to Part II -- Asset-management Companies inChina.Appendix II to Part II -- China's First Money-brokingCompany.Appendix III to Part II -- The National Council for SocialSecurity Fund.Part III. Financial Markets.7. The Inter-bank Money Market.8. The Inter-bank Bond Market.9. The Stock Exchange Market.10. The Futures Market.11. The Gold Market.Part IV. Balance of Payments and Exchange Rate.12. The Balance of Payments and Reform of the RMB ExchangeRate.Part V. Legal and Institutional Environment for FinancialDevelopment.13. Building a Rule-of-law Environment in the FinancialIndustry.14. Regional Differences in Asset Quality and FinancialEcology.Index.