China's Banking and Financial Markets

Professor Li Yang is Director General, Institute of Finance & Banking (IFB), Chinese Academy of Social Sciences (CASS); Director General, Finance Research Center, CASS; Deputy President, China Society for Finance & Banking; Deputy Chief Secretary, China Society of Public Finance; Member, Executive Committee, China Society of International Finance; and former Member, Monetary Policy Committee, People's Bank of China. Professor Li holds the Honorary Title of "The State Outstanding Specialist with Remarkable Contributions to the Country" given by the State Council in 1992. He won the Sun Yefang Economics Prize, the highest economics prize awarded in China, three times (1990, 1994, 1996). He has published 22 monographs and over 300 research articles and review essays as well as organized and participated in 30 state-level research projects and international cooperative studies. He has an MA in money and Banking (Fudan University) and a PhD in public finance (Renmin University of China). He was a visiting scholar in economics at Columbia University Dr. Robert Lawrence Kuhn is an international investment banker and corporate strategist. Since 1989, he has been advising the Chinese government on economic policy, mergers and acquisitions, science and technology, media and culture, and international communications. The author or editor of over 25 books, including The Library of Investment Banking, Dr. Kuhn wrote The Man Who Changed China: The Life and Legacy of Jiang Zemin, a precedent-setting biography of a living Chinese leader that was China's best-selling book of 2005. Dr. Kuhn is Senior Advisor to Citigroup Investment Banking and Senior Partner of IMG, the world's premier sports, entertainment and media company. A public intellectual with a doctorate in anatomy/brain research (UCLA) and a master's in management (MIT), Dr. Kuhn speaks and writes frequently in the business media.

• Preface. Acknowledgments.Contributors.Advisory Committee.About the Editors.About the Sponsor.Part I. Macro-economy and Policies.1. The Macroeconomic Situation.2. Financial Industry Performance and Monetary Policy Operation.Appendix to Part I — An Analysis of China’s Fund Flow in 2004.Part II. Financial Institutions.3. The Banking Industry.4. The Insurance Industry.5. The Trust Industry.6. The Securities Industry.Appendix I to Part II — Asset-management Companies in China.Appendix II to Part II — China’s First Money-broking Company.Appendix III to Part II — The National Council for Social Security Fund.Part III. Financial Markets.7. The Inter-bank Money Market.8. The Inter-bank Bond Market.9. The Stock Exchange Market.10. The Futures Market.11. The Gold Market.Part IV. Balance of Payments and Exchange Rate.12. The Balance of Payments and Reform of the RMB Exchange Rate.Part V. Legal and Institutional Environment for Financial Development.13. Building a Rule-of-law Environment in the Financial Industry.14. Regional Differences in Asset Quality and Financial Ecology.Index.

“…shines a spotlight on the Chinese banking and financial industries”. (Global Finance, April 2007)