Privatizing China
Inside China's Stock Markets
(Sprache: Englisch)
PRIVATIZING CHINAINSIDE CHINA'S STOCK MARKETSIn more depth than any other, this highly readable book lays bare why China's capital markets have fallen so far short of their promise. It is required reading for anyone seeking to understand the realities and...
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PRIVATIZING CHINAINSIDE CHINA'S STOCK MARKETSIn more depth than any other, this highly readable book lays bare why China's capital markets have fallen so far short of their promise. It is required reading for anyone seeking to understand the realities and the future of an extraordinary economic transformation. - James Kynge, Former Beijing Bureau Chief, Financial Times, Author, China Shakes the WorldCarl Walter and Fraser Howie bring together a wealth of experience to this complex and deeply important topic. Their book contains a mine of invaluable quantitative and qualitative information as well as an incredible depth of knowledge. It is essential reading for anyone investing in companies from mainland China. - Professor Peter Nolan, Judge Institute of Management Studies, University of CambridgePrivatizing China is essential for anyone who wants to understand China's companies and stock markets. no one should invest in China without reading it. - Arthur Kroeber, Managing Editor,China Economic QuarterlyCarl Walter and Fraser Howie combine a deep knowledge of China and finance to provide an unflinching perspective on the country's effort to build functioning capital markets. China may have wowed the world with its high-speed economic growth and manufacturing prowess, but this book is compelling evidence that Beijing's mastery of the universe does not yet extend to the stock market. - Richard MacGregor, beijing Correspodent, FinancialTimesThis book will answer many people's questions regarding SOEs and the stock market. I think it is destined to become the standard reference work on the subject. - Jean C. Oi, Director, Center for East Asian Studies, Stanford University
In more depth than any other, this highly readable book lays bare why China's capital markets have fallen so far short of their promise. It is required reading for anyone seeking to understand the realities and the future of an extraordinary economic transformation. - James Kynge, Former Beijing Bureau Chief, Financial Times, Author, China Shakes the World
Carl Walter and Fraser Howie bring together a wealth of experience to this complex and deeply important topic. Their book contains a mine of invaluable quantitative and qualitative information as well as an incredible depth of knowledge. It is essential reading for anyone investing in companies from mainland China. - Professor Peter Nolan, Judge Institute of Management Studies, University of Cambridge
Privatizing China is essential for anyone who wants to understand China's companies and stock markets. no one should invest in China without reading it. - Arthur Kroeber, Managing Editor, China Economic Quarterly
Carl Walter and Fraser Howie combine a deep knowledge of China and finance to provide an unflinching perspective on the country's effort to build functioning capital markets. China may have wowed the world with its high-speed economic growth and manufacturing prowess, but this book is compelling evidence that Beijing's mastery of the universe does not yet extend to the stock market. - Richard MacGregor, beijing Correspodent, FinancialTimes
This book will answer many people's questions regarding SOEs and the stock market. I think it is destined to become the standard reference work on the subject. - Jean C. Oi, Director, Center for East Asian Studies, Stanford University
Carl Walter and Fraser Howie bring together a wealth of experience to this complex and deeply important topic. Their book contains a mine of invaluable quantitative and qualitative information as well as an incredible depth of knowledge. It is essential reading for anyone investing in companies from mainland China. - Professor Peter Nolan, Judge Institute of Management Studies, University of Cambridge
Privatizing China is essential for anyone who wants to understand China's companies and stock markets. no one should invest in China without reading it. - Arthur Kroeber, Managing Editor, China Economic Quarterly
Carl Walter and Fraser Howie combine a deep knowledge of China and finance to provide an unflinching perspective on the country's effort to build functioning capital markets. China may have wowed the world with its high-speed economic growth and manufacturing prowess, but this book is compelling evidence that Beijing's mastery of the universe does not yet extend to the stock market. - Richard MacGregor, beijing Correspodent, FinancialTimes
This book will answer many people's questions regarding SOEs and the stock market. I think it is destined to become the standard reference work on the subject. - Jean C. Oi, Director, Center for East Asian Studies, Stanford University
Inhaltsverzeichnis zu „Privatizing China “
- Preface ix- List of Abbreviations xix
- Chronology xxi
- The Rise of China's Stock Markets, 1979 - 2001
1. "You're None of Those!" 1
2. How China's Stock Markets Came to Be 21
- The evolution of the Shenzhen and Shanghai securities markets 22
- Original structure of the Shanghai and Shenzhen exchanges 31
- The Stock Exchange Executive Council and the electronic markets
- STAQ and NETS) 35
- The regional trading centers 40
- The auction houses 42
- The Third Board 43
3. Who Minds the Fox: The Regulators 47
- The PBOC: Market player or market regulator? 49
- Building the CSRC 54
- The internationalization of the CSRC 57
- The Stock Exchange of Hong Kong goes to the top 58
- The CSRC's domestic struggle 59
- Regulatory philosophy 63
- The CSRC takes the initiative 65
4. Defining Ownership:
- Share Types 71
- Shares of what? 73
- The 1992 Standard Opinion 76
- The 1994 Company Law 82
- Listed company shares 85
- The 1999 Securities Law 86
5. Packaging SOEs:
- Restructuring and Listing 89
- Evolution of Chinese corporate law 90
- How to "package" an SOE 97
- Corporate restructuring for international listing 102
6.The Fortunate Few: Listed Companies 113
- Who decides who lists? 115
- International pricing 117
- A-share pricing 118
- Analysis of listed companies 120
- A note on private companies 137
7. Where Have All the (Retail) Investors Gone? 139
- How many investors? 140
- Who are China's investors? 149
8. Sliced and Diced: China's Segmented Stock Markets 175
- Segmented markets 177
- Is there a company value? 188
- Economic inefficiencies of segmented markets 190
- Circles of ownership 201
- Privatization with Chinese characteristics? 203
9.The 10-year Bull Market 207
- China's bull markets 207
- Fund index performance 218
- The forgettable B share 219
- Taking the market's measure 220
- The Fall of China's
... mehr
Stock Markets, 2001-2006
10. The Politics of Merging the Markets
- Trying to merge the segmented markets
- The character of the market in the new century
- Trying to restore the status quo
- The terms of the debate about state shares
- The securities industry debacle
11. How CSRC at last Merged the Markets: the G Company Reform
- SASAC: defender of state property rights
- The CSRC's "Final Fix"
- Pilot cases of the new policy
- Warrants and the National Champion: BaoSteel
12. All about QFII
- Market entry regulations and restrictions
- The approval process
- Market strategies
- Investment history
13. Where we go from here
- Appendices 243
- Endnotes 262
- Select Bibliography 285
- Index 289
10. The Politics of Merging the Markets
- Trying to merge the segmented markets
- The character of the market in the new century
- Trying to restore the status quo
- The terms of the debate about state shares
- The securities industry debacle
11. How CSRC at last Merged the Markets: the G Company Reform
- SASAC: defender of state property rights
- The CSRC's "Final Fix"
- Pilot cases of the new policy
- Warrants and the National Champion: BaoSteel
12. All about QFII
- Market entry regulations and restrictions
- The approval process
- Market strategies
- Investment history
13. Where we go from here
- Appendices 243
- Endnotes 262
- Select Bibliography 285
- Index 289
... weniger
Bibliographische Angaben
- Autor: Fraser J. T. Howie
- 2006, 2. Aufl., 290 Seiten, Maße: 22,8 cm, Kartoniert (TB), Englisch
- In collab. with Carl E. Walter
- Verlag: Wiley & Sons
- ISBN-10: 0470822147
- ISBN-13: 9780470822142
Sprache:
Englisch
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