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An Insider's Guide to How the Markets Work
To order this title, and for more information, click here
Edited By
Salih Neftci, Global Finance Master's Program, New School for Social Research, New York, NY, USA
Michelle Yuan Menager-Xu, IFM, Geneva, Senior Financial Consultant, Ruiji-Regis, Shanghai, China
Description
China?s financial markets represent about $2 trillion and are expected to grow to about $10 trillion by 2008. As these markets continue
to open to outside investment, a thorough understanding of how they operate will be essential for success. In this book, Salih Neftci,
an expert in finance whose teaching and research span North America, Europe and Asia, and Michelle Menager-Xu, a Chinese finance professional
currently working in Geneva, bring together an unprecedented collection of Chinese insiders who are experts in their respective industries.
These experts provide a detailed description of the banking system, the money, equity, futures, FX, and bond markets, the insurance sector,
the mortgage market and mortgage instruments, and the regulators. Readers will learn how each of these financial sectors operates, how
the government, regulators, and the central bank are involved, each sector?s history, size and projected growth, an analysis of its current
situation and discussion of future trends, the major players, and how the game is played. This is a must-read book for financial success
in this emerging market.
Audience
Finance professionals worldwide in: equities, bonds, insurance, currency exchanges, and the futures markets. Business development heads
in corporations looking to expand into Chinese markets; portfolio managers and other investment professionals managing or creating funds
invested in Chinese instruments; MBA students in finance and international business programs.
Contents
1. Chapter I: Introduction.
This chapter will summarize the book and put it in a context.
. Chapter 2: The structure of the Chinese
banking system.
3. Chapter 3: Chinese money markets.
! Deposits
! Loans.
! A discussion of special aspects of the practices related
to these basic instruments.
! A brief summary of various types of deposits and loans.
! Inter-bank market in China.
! The role of
the foreign banks and the future prospects.
! The coming reforms and opportunities.
4. Chapter 4: Chinese equity markets
0.
Historical review
1. current situation, progress made since
1.1 Funds, types of funds
1.2 Major types of fund in the china market
1.3
Describe each
2. Who are the main market makers?
2.1. Big players and financial institutions
2.2 One specialty in China- !?illegal!?
fund raiser- similar to market marker
3. Who are the main clients?
3.1 Market makers
3.2 Small individuals
5. Chapter 5 Futures
markets.
1. Existing futures markets review
1.1Products existing
1.2 Repo (very recently approved)
1.3 Other derivatives ( in short
term will be approved by states)
2. Their size and liquidity.
2.1 First glance, look at market size and its liquidity
2.2 One market!?s
special phenomena: traders trade themselves to make the
market look more liquid
3. The main players.
3.1 Market makers (mentioned
in 2.2)
3.2 Private investors
3.2 Funds and state owned enterprises are not allowed (to participate in the
futures)
4. What
are the future prospects?
4.1 An example: Shanghai
4.2 Regulations aspects
6. Chapter 6 The FX market. Present and the Future.
7.
Chapter 7 The bond market.
Tbills, Treasury bonds. CITIC bonds, Callable bonds. The market and the players
1. A brief review of Chinese
bond market development
2. The basic structure of Chinese bond market
2.1 Trading markets
2.2 Inter-bank market(including OTC)
3.
Main bond instruments available in Chinese market (Tbills, Tbonds, CITIC bonds, Callable bonds)
3.1 Government bond, T-bill and T-notes
3.2 Corporate bond
3.3 Convertible corporate bonds
4. Trading in the Chinese bond market, the market an players
4.1 Primary market,
bond issuing
4.2 Secondary market, bond trading
4.3 Investors in the bond market
4.4 Transactions method ( trading methods)
4.4.1
Cash deal( deliverable deal)??
4.4.2 Repo deal
5. Bond market!?s future
8. Chapter 8: Insurance sector.
1. Chinese insurance market
background
1.1 AIG first entered china , in 1992
1.2 Current situation ( number of companies in total, Chinese owned, foreign owned,
competition, premium received in total)
1.3 Products available in China ( Life, P&C)
2. Insurance!?s capital management
2.1 New rule:
allow insurance capital direct access to the capital market
2.2 Advantages comparing to banks ( in china, banks suffered a lot with bad
loan)
3. Challenges and future
3.1 Credit system need to be improved
3.2 Insurance agencies , insurance professionals
9. Chapter
9:The mortgage market and mortgage instruments
Size of the mortgage market. Who are the main players?
Where
is the main market?
Mortgage backed securities and the future of the sector.
1. Current size of the mortgage market ( give
different measurement for the size)
1.1 investment capital in the real estate
1.2 sales volume
1.3 surfaces under construction
1.4 prices
and prices index
2. Who are the main players?
2.1 Four state owned commercial banks
2.2 Other major corporate banks (11 in Shanghai)
2.3 The others (small players, rating agencies, guarantee services providers!-)
3. Where is the main market?
3.1 Three major cities (Shanghai,
Beijing, ShengZheng) and give a comparison of these cities
3.2 The new comers, cities has good economic potential, good tourist resources
(Wen Zhou, Huang Zhou and Qin Dao)
4. Mortgage backed securities and the future of the sector
4.1 Current situations
4.2 How the future
will be
4.3 What Chinese is doing/ should do to be ready for the future?
10. Chapter 10: Chinese regulators
a. Stock
market and Funds regulator.
b. Money market regulator
c. Insurance regulator
Where they are, what they do, and what are their
powers? What the authorities are planning for the future?
1 The main character of Chinese financial regulators ?C monitoring the market
on different sector basis
2 How does Stock market is regulated
3 How does Money market is regulated
4 Insurances sectors regulation
5 The plans of Chinese financial regulator in the future
11. Chapter 11: Conclusion
| Bibliographic details |
Hardbound, 416 pages, publication date: NOV-2006
ISBN-13: 978-0-12-088580-0
ISBN-10: 0-12-088580-8
Imprint: ACADEMIC PRESS
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| Price and Ordering |
Price:
USD 79.95
EUR 56.95
GBP 47.99
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Last update: 3 Oct 2009
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