China's Emerging Financial Markets - (The Milken Institute Financial Innovation and Economic Growth) by James R Barth & John A Tatom & Glenn Yago

About the Book

China's economy has undergone tremendous change. This insightful book examines the evolving Chinese financial system. It provides alternative perspectives of the system's evolution and its potential contribution to economic growth.

Book Synopsis

China's emerging financial markets reflect the usual contrast between the country's measured approach toward policy, regulatory, and market reform, and the dynamic pace of rapid economic growth and development. But they also offer unusual challenges and opportunities. In the past five years, the pace of opening and reform has accelerated sharply. Recapitalization and partial privatization of the largest banks, and the allowance of some joint venture and branch operations for foreign financial institutions, are making rapid headway in developing and expanding financial services and improving access to domestic business and households. This book provides the most extensive look available at the evolving Chinese financial system. It begins with alternative perspectives on the evolution of the financial system and the broad outlines of its prospects and potential contribution to economic growth. Three articles review broad aspects of the financial system. Franklin Allen, Jun ''QJ'' Qian, Meijun Qian, and Mengxin Zhao lead off with overviews of the banking system and performance of the equity market and other institutions.

From the Back Cover

China's rapid pace of economic growth and development is accompanied by needed reforms in its emerging financial markets. The government's measured approach in developing these markets is creating unusual challenges and opportunities, both domestically and internationally.

This book offers one of the most insightful up-to-date looks available at the evolving Chinese financial system. It provides alternative perspectives of the system's evolution and its potential contribution to economic growth. The book also discusses financial institutions as well as the bond, equity, and real estate markets, focusing on the ways in which governmental policies are affecting their performance.

China's Emerging Financial Markets: Challenges and Opportunities presents an in-depth assessment of such important issues as the performance and lending patterns of China's banks, as well as an assessment of real estate property prices. Significant attention is also paid to the important role that globalization is having on China's exchange rate and monetary policies.

This book is the eighth in the Milken Institute Series on Financial Innovation and Economic Growth, and brings together the ideas of forty-one widely recognized financial and policy experts. Notably, more than half of the contributors are Chinese and have the advantage of front-row seats in China's emerging financial markets.

About the Author

James R. Barth, his research focuses on financial institutions and capital markets, both domestic and global, with special emphasis on regulatory issues. He recently headed up an international team advising the People's Bank of China on financial reform.

John A. Tatom, has more than 30 years of research and management experience in domestic and international financial markets and monetary policy, including as a Federal Reserve official and policy adviser, and head of emerging market research and country risk for an international bank. His research focuses on policy and influences on international capital markets and economic capacity.

Glen Yago, specializes in financial innovations, financial institutions and capital markets, and has extensively analyzed public policy and its relation to high-yield