By Salih N. Neftci
China's monetary markets signify approximately $2 trillion and are anticipated to develop to approximately $10 trillion by way of 2008. As those markets proceed to open to open air funding, an intensive realizing of the way they function should be crucial for achievement. during this booklet, Salih Neftci, a professional in finance whose instructing and learn span North the US, Europe and Asia, and Michelle Menager-Xu, a chinese language finance expert presently operating in Geneva, collect an remarkable choice of chinese language insiders who're specialists of their respective industries. those specialists supply a close description of the banking process, the cash, fairness, futures, FX, and bond markets, the coverage quarter, the loan industry and loan tools, and the regulators. Readers will learn the way each one of those monetary sectors operates, how the govt., regulators, and the significant financial institution are concerned, each one sector's historical past, dimension and projected development, an research of its present state of affairs and dialogue of destiny developments, the foremost avid gamers, and the way the sport is performed. this can be a must-read e-book for monetary luck during this rising industry. *Experts inside of China operating in every one quarter supply certain, thoroughly up to date descriptions and research *CDROM includes English translations of appropriate chinese language rules no longer to be had elsewhere*Describes how the main regulators paintings and the foremost impact components in each one
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Additional resources for China's Financial Markets: An Insider's Guide to How the Markets Work
Fund managers must be approved by the CSRC. According to Article 13 of the Securities Investment Fund Law, the following conditions shall be met in order to establish a fund management company: • Having a registered capital of no less than RMB100 million yuan. • Principal shareholders demonstrating a good track record and public reputation in the securities business, securities investment consultation, trust assets management, or other financial assets management, committing no violation of law within the preceding 3 years, and having a registered capital of no less than RMB300 million yuan.
As mentioned earlier, the number of licensed QFIIs had risen to 40 by June 2006. 7 billion yuan, accounting for 90% of their investment quotas at the end of 2005. 7 billion (11%) in treasury bonds. In order to become a QFII, an applicant should be in sound financial and credit condition, meeting the requirements set by the CSRC on asset size and other indicators. In this respect, the criteria for the scale of assets and other factors are as follows. 1. For fund management institutions: having operated a fund business for over 5 years, with the most recent accounting year managing assets of no less than US$10 billion.
The top executive body of the CSRC comprises one chairman, five vice chairmen, and one assistant chairman. The commission consists of 16 functional departments and three affiliate centers. Headquartered in Beijing, the CSRC has 36 regulatory bureaus throughout China’s provinces, municipalities, autonomous regions, and key cities, as well as two supervisory offices, in Shanghai and Shenzhen. At present, there are 1,905 on staff in the CSRC, with an average age of 35 years; 41% of the staff hold master degrees or above.