Developing China S Capital Market

China is an increasingly influential emerging economy that is currently attracting the attention of academics, practitioners, and policy makers. This book is a collection of cutting edge research findings on issues relating to the experiences and challenges of China's capital market development.

'This book is a welcome addition to Edward Elgar's series on the Chinese economy. It provides a wealth of information on the historical development and the current state of the Chinese financial system. Particularly useful for readers who do not have access to the original Chinese literature are the overviews of each market and the many detailed accounts of the historical development of markets and regulations.' - Nicolaas Groenewold, Pacific Affairs

PRIVATIZING CHINA INSIDE CHINA'S STOCK MARKETS In more depth than any other, this highly readable book lays bare why China's capital markets have fallen so far short of their promise. It is required reading for anyone seeking to understand the realities and the future of an extraordinary economic transformation. - James Kynge, Former Beijing Bureau Chief, Financial Times, Author, China Shakes the World Carl Walter and Fraser Howie bring together a wealth of experience to this complex and deeply important topic. Their book contains a mine of invaluable quantitative and qualitative information as well as an incredible depth of knowledge. It is essential reading for anyone investing in companies from mainland China. - Professor Peter Nolan, Judge Institute of Management Studies, University of Cambridge Privatizing China is essential for anyone who wants to understand China's companies and stock markets. no one should invest in China without reading it. - Arthur Kroeber, Managing Editor, China Economic Quarterly Carl Walter and Fraser Howie combine a deep knowledge of China and finance to provide an unflinching perspective on the country's effort to build functioning capital markets. China may have wowed the world with its high-speed economic growth and manufacturing prowess, but this book is compelling evidence that Beijing's mastery of the universe does not yet extend to the stock market. - Richard MacGregor, beijing Correspodent, FinancialTimes This book will answer many people's questions regarding SOEs and the stock market. I think it is destined to become the standard reference work on the subject. - Jean C. Oi, Director, Center for East Asian Studies, Stanford University

Extraordinary opportunities for China's major financial services providers Over the past three decades, China has attained and solidified its position as the world's second-largest economy. There is now an enormous demand for Chinese financial services, especially those related to securities. Chinese Securities Companies is essential reading for anyone involved in Chinese capital markets, because this is a situation that has never been seen before. Management, profit structure, sponsor systems, reform potential—all have unique elements in China, and all are analyzed in depth in this book. Chinese securities expert Wu Xiaoqiu has developed an influential model for understanding China's capital markets in their historical perspective and creating success in this high-demand industry. Read Chinese Securities Companies to understand the four things firms must do in order to exceed the accomplishments of giants like CITIC Securities: Create international vision Develop innovative talent Establish solid capital power Engage in rigorous risk management Using this formula, developed with the aid of research from Moody's, along with a robust historical perspective, Wu Xiaoqiu has written an essential text for anyone involved in global financial services.

Annette Kleinbrod analyses the Chinese capital market and examines to what extent the stock and bond markets contribute to the financing of China's development. Her approach takes into account the relatively recent re-emergence of the stock and bond markets in China, the limited data available, and the country's current dynamics.

Reforming China s Capital Market, pioneering researcher in China s securities theory Wu Xiaoqiu, along with a team of scholars on China s financial economics, presents an examination of the most critical issues on China s volatile but booming capital market.

In the past China’s capital market featured prevalent state ownership and a weak legal environment. It has, however, achieved very substantial development in the past two decades. China has surpassed Japan as the world’s second-largest stock market and has also emerged as a leading player in green bonds and Fintech markets. The chapters in this book provide insights on Chinese listed firms and advance the understanding of China’s unique institutions. Some important questions are covered including the governance role of foreign investors in partially privatized firms, the financial implications of political connections, the "Chinese model" of commercial banks and regulatory reforms that promote the marketization of the stock markets, among others. These studies have important implications for other emerging economies, on the recent China-US trade conflicts and about the Trump administration's complaints about the role of the Chinese government in capital markets. This book selectively includes the most influential articles from two special issues of The European Journal of Finance, which were based on selections of papers presented at a series of conferences on the Chinese Capital Markets.

In Reforming China's Capital Market, Wu Xiaoqiu, forefather of China's securities theory, examines the most critical issues with this volatile but booming market. This book also offers studies of prominent cases of trading irregularities in China over the past 20 years, as well as suggestions of the regulatory system and the policy orientation for future reforms such as the creation of market watchdogs in order to deter unfair trading practices.