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China’s Capital Markets

Book 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.

  • 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

  1. Cover image
  2. Title page
  3. Table of Contents
  4. Copyright
  5. List of figures and tables
  6. List of abbreviations
  7. Acknowledgements
  8. About the author
  9. Introduction
  10. Chapter 1: China’s stock market
    1. Abstract:
    2. Introduction
    3. China’s A-share market
    4. China’s B-share market
    5. Small and Medium-sized Enterprise Board Market
    6. The Growth Enterprise Market
    7. The Third Board Markets
    8. China’s International Board
    9. Discussing the problems that China’s stock market is facing
    10. Summary
  11. Chapter 2: China’s bond market
    1. Abstract:
    2. Introduction
    3. Major types of bonds in China’s bond market
    4. Bond trading
    5. Bond issuance and supervision
    6. A problem in China’s interbank bond trading: “Class C” account and “Substitute holding”
    7. Opening up of China’s bond markets
    8. Problems and challenges of China’s bond markets
    9. Summary
  12. Chapter 3: China’s derivatives markets
    1. Abstract:
    2. Introduction
    3. China’s futures market
    4. T-bond derivatives market
    5. China’s warrant market
    6. Interest rate (IR) derivatives market
    7. Foreign exchange derivatives market
    8. Credit Default Swap (CDS) market
    9. Local derivatives markets
    10. China’s supervision of financial derivatives markets
    11. The problems of developing China’s derivatives markets
    12. Summary
  13. Chapter 4: China’s private equity market
    1. Abstract:
    2. Recent development of China’s PE market
    3. Main players in China’s PE industry
    4. PE management
    5. PE performance
    6. RMB-denominated PE funds
    7. China Sovereign Wealth Fund
    8. Taxation issue in China’s PE industry
    9. Policies to manage the PE industry
    10. How to make a successful PE in China?
    11. Challenges in developing PE in China
    12. The future of private equity in China
    13. Summary
  14. Chapter 5: Investors in China’s capital markets
    1. Abstract:
    2. Introduction
    3. Chinese funds
    4. Securities companies
    5. Qualified Foreign Institutional Investors (QFIIs)
    6. Qualified Domestic Institutional Investors (QDIIs)
    7. Insurance companies
    8. Pension funds
    9. China enterprise annuity fund
    10. Summary
  15. Chapter 6: China’s banking industry
    1. Abstract:
    2. Introduction
    3. China’s traditional banking
    4. China’s shadow banking
    5. China’s private banking
    6. China’s banking and local governments’ debts
    7. Summary
  16. Chapter 7: Mergers and acquisitions (M&A) in China’s capital markets
    1. Abstract:
    2. Introduction
    3. M&A in China’s capital markets
    4. China’s outbound M&A
    5. Foreign investors’ M&A in China
    6. China’s legal system on M&A
    7. Challenges and problems of M&A in China’s capital markets
    8. Summary
  17. Chapter 8: Valuation adjustment mechanism in China’s capital markets
    1. Abstract:
    2. What is valuation adjustment mechanism (VAM)?
    3. VAM in China
    4. Is a VAM clause legal in China?
    5. Summary
  18. Chapter 9: Opening up of China’s capital markets
    1. Abstract:
    2. Introduction
    3. Chinese firms’ overseas IPOs
    4. QFII
    5. QDII
    6. RQFII
    7. Joint venture securities in mainland China
    8. Internationalization of Chinese securities
    9. Summary
  19. References
  20. Index