China’s Capital Markets

China’s Capital Markets

1st Edition - September 30, 2013

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  • Author: Yong Zhen
  • eBook ISBN: 9781780633602

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Description

Capital markets in China include stock, bond, futures and other derivatives, as well as the private equity market. China’s Capital Markets is the first book to systematically study China’s capital markets, examining its evolution, policies, reforms, current situation and challenges. Following an introduction to China’s capital markets and economic growth, the book moves on to cover further capital markets in China, including: the banking system, mergers and acquisitions, and valuation adjustment mechanisms, before concluding with a discussion of the opening up and internationalization of China’s capital markets.

Key Features

  • Provides an overall picture of China's capital markets including: policy analysis; case studies; investor strategies and behaviours; and suggestions for success in the markets
  • Offers diverse perspectives, using rich data and analysis
  • This is the first book to systematically study China’s capital markets

Table of Contents

  • List of figures and tables

    List of abbreviations

    Acknowledgements

    About the author

    Introduction

    Chapter 1: China’s stock market

    Abstract:

    Introduction

    China’s A-share market

    China’s B-share market

    Small and Medium-sized Enterprise Board Market

    The Growth Enterprise Market

    The Third Board Markets

    China’s International Board

    Discussing the problems that China’s stock market is facing

    Summary

    Chapter 2: China’s bond market

    Abstract:

    Introduction

    Major types of bonds in China’s bond market

    Bond trading

    Bond issuance and supervision

    A problem in China’s interbank bond trading: “Class C” account and “Substitute holding”

    Opening up of China’s bond markets

    Problems and challenges of China’s bond markets

    Summary

    Chapter 3: China’s derivatives markets

    Abstract:

    Introduction

    China’s futures market

    T-bond derivatives market

    China’s warrant market

    Interest rate (IR) derivatives market

    Foreign exchange derivatives market

    Credit Default Swap (CDS) market

    Local derivatives markets

    China’s supervision of financial derivatives markets

    The problems of developing China’s derivatives markets

    Summary

    Chapter 4: China’s private equity market

    Abstract:

    Recent development of China’s PE market

    Main players in China’s PE industry

    PE management

    PE performance

    RMB-denominated PE funds

    China Sovereign Wealth Fund

    Taxation issue in China’s PE industry

    Policies to manage the PE industry

    How to make a successful PE in China?

    Challenges in developing PE in China

    The future of private equity in China

    Summary

    Chapter 5: Investors in China’s capital markets

    Abstract:

    Introduction

    Chinese funds

    Securities companies

    Qualified Foreign Institutional Investors (QFIIs)

    Qualified Domestic Institutional Investors (QDIIs)

    Insurance companies

    Pension funds

    China enterprise annuity fund

    Summary

    Chapter 6: China’s banking industry

    Abstract:

    Introduction

    China’s traditional banking

    China’s shadow banking

    China’s private banking

    China’s banking and local governments’ debts

    Summary

    Chapter 7: Mergers and acquisitions (M&A) in China’s capital markets

    Abstract:

    Introduction

    M&A in China’s capital markets

    China’s outbound M&A

    Foreign investors’ M&A in China

    China’s legal system on M&A

    Challenges and problems of M&A in China’s capital markets

    Summary

    Chapter 8: Valuation adjustment mechanism in China’s capital markets

    Abstract:

    What is valuation adjustment mechanism (VAM)?

    VAM in China

    Is a VAM clause legal in China?

    Summary

    Chapter 9: Opening up of China’s capital markets

    Abstract:

    Introduction

    Chinese firms’ overseas IPOs

    QFII

    QDII

    RQFII

    Joint venture securities in mainland China

    Internationalization of Chinese securities

    Summary

    References

    Index

Product details

  • No. of pages: 298
  • Language: English
  • Copyright: © Chandos Publishing 2013
  • Published: September 30, 2013
  • Imprint: Chandos Publishing
  • eBook ISBN: 9781780633602

About the Author

Yong Zhen

Dr Yong Zhen is an Assistant Professor of Business and Management at Beijing Normal University, Hong Kong Baptist University United International College. He has over 10 years of work and research experiences in Chinese retailing. He studied in the USA and the UK; and obtained Ph. D degree from University of Cambridge.

Affiliations and Expertise

Beijing Normal University, China

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