Sheng / Soon Shadow Banking in China

An Opportunity for Financial Reform
1. Auflage 2016
ISBN: 978-1-119-26635-8
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 288 Seiten, E-Book

An authoritative guide to the rise of Chinese shadow banking and its systemic implications
Shadow Banking in China examines this rapidly growing sector in the Chinese economy, and what it means for your investments. Written by two world-class experts in Chinese banking, including the Chief Advisor to the China Banking Regulatory Commission and former Chairman of the Securities and Futures Commission in Hong Kong, this book is unique in providing true, first-hand perspectives from authorities within the world's largest economy. There is little widely-available information on China's shadow banking developments, and much of it is rife with disparate data, inaccuracies and overblown risks due to definitional and measurement differences. This book clears the confusion by supplying accurate information, on-the-ground context and invaluable national balance sheet analysis you won't find anywhere else.
Shadow banking has grown to be a key source of credit in China, and a major component of the economy. This book serves as a primer for analysts and investors seeking real, useful information about the sector to better inform investment decisions.
* Discover what's driving the growth of shadow banking in China
* Learn the truth about both real and inflated risks
* Dig into popular rhetoric and clarify common misconceptions
* Access valuable data previously not published in English
Despite shadow banking's critical influence on the Chinese economy, there have been very few official studies and even fewer books written on the subject. Understanding China's present-day economy and forecasting its future requires an in-depth understanding of shadow banking and its inter-relationship with the banking system and other sectors. Shadow Banking in China provides authoritative reference that will prove valuable to anyone with financial interests in China.

Autoren/Hrsg.

Sheng, Andrew

Soon, Ng Chow

Inhaltsverzeichnis

Foreword
Acknowledgments
About the Editors
Executive Summary
Key Findings and Policy Recommendations
Chapter 1: Introduction
Andrew Sheng
Chapter 2: Shadow Banking in the Global Context
Cathleen Yi Tin
2.1. Introduction
2.2. What is Shadow Banking?
2.3. Size of the Global Shadow Banking Industry
2.4. Factors for the Rise in Global Shadow Banking
2.5. Interconnectedness Between Shadow Banks and the Formal Banking Sector
2.6. The Nature of Shadow Banking Differs across Countries
References
Chapter 3: Shadow Banking within the National Balance Sheet
Jodie Hu and Andrew Sheng
3.1. Introduction
3.2. Overview of Chinese National Balance Sheet
3.3. Who Owes What in China's National Balance Sheet?
3.4. Zooming in on China's Sectoral Balance Sheets
3.5. Shadow Banks within the National Balance Sheet
3.6. Evaluation of National Balance Sheet Approach
3.7. Basic Analytical CONCLUSIONS and Policy Recommendations from the NBS Approach
References
Chapter 4: Shadow Banking with Chinese Characteristics
Wang Yao
4.1. Introduction
4.2. Nature and Scale of Shadow Banking in China
4.3. Factors Spurring Growth of Shadow Banks in China
4.4. Different Channels of China's Shadow Banking
4.5. Inter-connectivity between Shadow Banking and Official Banking System
4.6. Shadow Banking's Impact and Regulatory Implications
4.7. Conclusion
References
Chapter 5: Inherent Risks in Chinese Shadow Banking
Wang Yao and Jodie Hu
5.1. Introduction
5.2. Getting to the Heart of the Problem - the Underlying Asset Quality
5.3. Non-financial Corporate Sector (excluding Real Estate Companies)
5.4. Real Estate Companies
5.5. Local Government Financing Platforms (LGFPs)
5.6. Non-performing Assets in the Shadow Banking System
References
Chapter 6: Impact of Technology on China's Financial System
Li Sai Yau and Cathleen Yi Tin
6.1. Introduction
6.2. The Rise of e-commerce in China and its Implications
6.3. The Rise of e-finance in China and its Implications
6.4. The Role of Technological Innovation in China's Transformation
6.5. Re-thinking Conventional Financial Regulation and Development
6.6. Implications for the Financial Services Industry
6.7. Conclusion
References
Chapter 7: Implications for Reform Agenda
Andrew Sheng
7.1. Introduction
7.2. On-going Shadow Banking Reforms in China
7.3. Financial Reforms - Looking Beyond Shadow Banking
7.4. Immediate-term Reform Priorities - Diagnosis and Damage Control
7.5. Loss Allocation - Medium-Term Measures
7.6. Mapping the Future of China's Financial System: A Potential Long-term Blueprint
7.7. Conclusion and Suggestions for Future Research
References
Chapter 8: Conclusion
Andrew Sheng
8.1. Introduction
8.2. Shadow Banking with Chinese Characteristics
8.3. Unique Opportunity for Reform
8.4. Reform Agenda Going Forward
8.5. Immediate-term Reform Priorities
8.6. Long-term Reforms: A Financial Blueprint
Appendix A: Evolution of International Financial Crises - Lessons for China
Li Sai Yau
A.1. Introduction
A.2. Comparing the Evolution of International Financial Crises
A.3. The Subprime Mortgage and ESDC Crises: Lessons for China
A.4. International Comparison of Nonperforming Loans (NPLs)
A.5. Conclusion
References
Index

Über Autor(innen)

ANDREW SHENG is chief adviser to the China Banking Regulatory Commission, former chairman of the Securities and Futures Commission, Hong Kong and deputy chief executive in HKMA.
NG CHOW SOON is the former director of the governor's office, Bank Negara Malaysia and a Harvard Mason Fellow.