‘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.’
–Dr. David K.P. Li, Chairman and Chief Executive, The Bank of East
Asia, Limited
‘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.’
–Maurice R. Greenberg, Chairman & CEO, C.V. Starr &
Co.
‘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.’
–Lefei Liu, Chief Investment Officer, China Life Insurance
Cuprins
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 Policy
Operation.
Appendix to Part I – An Analysis of China’s Fund
Flow 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 in
China.
Appendix II to Part II – China’s First Money-broking
Company.
Appendix III to Part II – The National Council for Social
Security 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 Exchange
Rate.
Part V. Legal and Institutional Environment for Financial
Development.
13. Building a Rule-of-law Environment in the Financial
Industry.
14. Regional Differences in Asset Quality and Financial
Ecology.
Index.
Despre autor
Professor Li Yang is Director General, Institute of Finance
& Banking (IFB), Chinese Academy of Social Sciences (CASS);
Director General, Finance Research Center, CASS; Deputy President,
China Society for Finance & Banking; Deputy Chief Secretary,
China Society of Public Finance; Member, Executive Committee, China
Society of International Finance; and former Member, Monetary
Policy Committee, People’s Bank of China. Professor Li holds the
Honorary Title of ‘The State Outstanding Specialist with Remarkable
Contributions to the Country’ given by the State Council in 1992.
He won the Sun Yefang Economics Prize, the highest economics prize
awarded in China, three times (1990, 1994, 1996). He has published
22 monographs and over 300 research articles and review essays as
well as organized and participated in 30 state-level research
projects and international cooperative studies. He has an MA in
money and Banking (Fudan University) and a Ph D in public finance
(Renmin University of China). He was a visiting scholar in
economics at Columbia University
Dr. Robert Lawrence Kuhn is an international investment
banker and corporate strategist. Since 1989, he has been advising
the Chinese government on economic policy, mergers and
acquisitions, science and technology, media and culture, and
international communications. The author or editor of over 25
books, including The Library of Investment Banking, Dr. Kuhn wrote
The Man Who Changed China: The Life and Legacy of Jiang Zemin, a
precedent-setting biography of a living Chinese leader that was
China’s best-selling book of 2005. Dr. Kuhn is Senior Advisor to
Citigroup Investment Banking and Senior Partner of IMG, the world’s
premier sports, entertainment and media company. A public
intellectual with a doctorate in anatomy/brain research (UCLA) and
a master’s in management (MIT), Dr. Kuhn speaks and writes
frequently in the business media.