By Kam C. Chan, Hung-Gay Fung, Qingfeng Wilson' Liu
China's accession agreements to the realm exchange association promised to open up the monetary area to international pageant through the tip of 2006, affording a wealth of possibilities for household and overseas traders. even if, there additionally exist inherent dangers and demanding situations, together with inefficient monetary markets, insufficient and fast-changing rules, over the top governmental effect, and absence of transparency in accounting and company governance. The individuals to this ebook discover those confusing and intertwined concerns as they systematically record and study the capital market's improvement in organization with the banking method and felony framework. China's financial system has been starting to be quickly because the past due Seventies and is anticipated to take care of this momentum within the foreseeable destiny. Coupled with the largest inhabitants on this planet, there's super development capability for China's capital markets and fiscal providers undefined, either important to the ongoing improvement of the economic climate. The participants current study on all aspects of China's markets together with: inventory and bond markets; futures and over the counter markets; regulatory matters; and the improvement and roles of economic associations akin to brokerage companies, banks and insurance firms. additionally addressed are the hot functionality of fairness markets, the emergence of small and medium organisations, and the kingdom banks' bids to be indexed in out of the country inventory exchanges. Taken jointly, the ebook sheds a welcome mild on China's total fiscal progress. This complete examine the way forward for China's financial system can be of serious price to scholars and students of China. traders and policymakers will additionally locate it of serious functional use.
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Extra resources for China's Capital Market: Challenges from Wto Membership (Advances in Chinese Economic Studies)
The development process oﬀers valuable lessons for Chinese regulators as well as regulators and investors in other emerging markets. The ‘red-chips’ phenomenon and the increasing number of Chinese companies listing their shares overseas reﬂect both a huge demand of equity ﬁnancing from those companies and the potential growth of the Chinese economy. The Chinese stock market will continue to change and play an important role in promoting China’s economic growth. NOTES 1. shtml (for Shanghai Stock Exchange) for details.
Both the establishment of the China Securities Investor Protection Fund Corporation Limited and promotion of corporate governance are used to strengthen investor conﬁdence. Investors will be compensated for their loss due to accounting frauds and misconduct by block-holders. There are also corporate governance rules that are directed to market surveillance, exchange member supervision and company compliance with respect to Chinese stock market 39 information disclosure, board independence, electronic voting system and tightened ﬁnancial audits.
Date Headlines Description 29 November 1991 ‘B’ Shares trading begins 1 August 1994 One billion USD worth of ‘B’ shares to be issued Shanghai Vacuum is the ﬁrst listed company in China to issue ‘B’ shares. However trading will only begin weeks later The Chairman of China Securities Regulatory Commission (CSRC) was quoted as saying that China is planning to issue US$1 billion worth of ‘B’ shares, with priority given to energy, transportation and telecommunications company to help them raise funds for investment.