An in Depth Look at China's Burgeoning Capital Markets.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c72224) has announced the addition of "Debt Capital Markets in China" to their offering. The world has become fixated fix·ate v. fix·at·ed, fix·at·ing, fix·ates v.tr. 1. To make fixed, stable, or stationary. 2. To focus one's eyes or attention on: fixate a faint object. on China not just on its economy but also on its capital markets reform story. The development of the Chinese bond market is central to those reforms. Over the next few years, all developed countries in the West will have an active interest in learning more about this important financing opportunity -- both from a trading/investment, as well as from a policy point of view. There is no better authority than Dr. Jian Gao on this topic. This book brings all of his considerable experience and knowledge about these markets to investors worldwide who are either active or looking to become involved in the emergence of the bond market in China. In China, fixed income debt instruments outstanding continue to grow, and so does participation in this market from foreign securities firms and investors. As the driving force behind many innovations in this market, Dr. Jian Gao, vice chairman of the China Development Bank, has contributed to the introduction of new debt instruments in the interbank market Interbank market Financial institutions exchange of currencies between and among themselves. , such as floating rate notes (FRNs), puttable bonds, callable bonds Callable Bond A bond that can be redeemed by the issuer prior to its maturity. Usually a premium is paid to the bond owner when the bond is called. Also known as a "redeemable bond". Notes: The main cause of a call is a decline in interest rates. , strip bonds, 30-year bonds, swaption-embedded bonds, and forward rate bonds. Responsible for CDBs corporate bond underwriting business, he is generally regarded as one of the leading authorities on bond markets in China Authors Bio: Dr. Jian Gao is the Vice Governor of China Development Bank (CDB CDB Common Database CDB Caribbean Development Bank CDB Convention sur la Diversité Biologique (Convention on Biological Diversity) CDB China Development Bank (Beijing, China) CDB Capital Development Board ). Before moving to CDB, he worked in different Departments of the Ministry of Finance for sixteen years. Throughout his career, Dr. Jian Gao has made many outstanding contributions to the formation of China's Treasury bond market and has led a transition of CDB's issuing format from administrative placement to market-oriented selling. Over the years, he has introduced new instruments in the market and initiated a series of financial innovations to boost its liquidity. He attended Beijing University Beijing University or Peking University, at Beijing, China; founded as Metropolitan Univ. 1898, renamed Peking Univ. 1911, absorbed nontechnical departments of Qinghua (Tsinghua) Univ. of Political Science & Law for graduate studies, received his PhD in economics at the Institute of Public Finance, and was a Post-Doctoral Fellow at Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. . Contents: Foreword. Preface. Acknowledgements. Introduction. PART ONE: Bond Market: Theory and Practice. Chapter 1. Theory of Institutional Economic Engineering in China. Chapter 2. The Practice. PART TWO: The Emergence of a Primary Market. Chapter 3. Primary Market for Treasury Bond Transactions. Chapter 4. Issuing Methods and Practices around the World. Chapter 5. Path to a Cost-Efficient Treasury Bond Market. Chapter 6. Evaluation of Treasury Bond Issuance in China. PART THREE: Emergence of a Secondary Market. Chapter 7. History of China's Secondary Bond Market. Chapter 8. Secondary Market: Operational Issues and Role of Participants and Financial Intermediaries Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. . Chapter 9. Treasury Bond Investment Fund. Chapter 10. Treasury Bond Repurchase Market. PART FOUR: Policy Issues. Chapter 11. Treasury Bond Market and Open Market Operations Open Market Operations The buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. Purchases inject money into the banking system and stimulate growth while sales of securities do the opposite. . Chapter 12. Government Debt Policy and Macroeconomics macroeconomics Study of the entire economy in terms of the total amount of goods and services produced, total income earned, level of employment of productive resources, and general behaviour of prices. . Chapter 13. Government Policy on Debt Instruments and Term Structure. Chapter 14. Impact of Government Policy on Term Structure of Interest Rates Term Structure of Interest Rates A yield curve displaying the relationship between spot rates of zero-coupon securities and their term to maturity. . Chapter 15. Types of Bonds. Chapter 16. Government Policy on the Holding Structure of Tr5esury Bonds. PART FIVE: Organization and Legal Structure. PART SIX: The International Market. PART SEVEN: The Non-Government Securities Market. PART EIGHT: The Debt Capital Market. Postscript. Appendix A. Laws and Regulations Governing Financial Debentures the Federal Reserve of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on August 3, 2004. Endnotes. Index For more information visit http://www.researchandmarkets.com/reports/c72224 |
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