By Violaine Cousin (auth.)
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The exponential development of China’s inventory markets long ago decade has attracted international realization from lecturers and practitioners. The practitioner’s curiosity in chinese language markets stems from agencies; traders and monetary associations foresee massive advantages from making an investment in China in the end.
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Mainly consulting to setup internal rating systems. Bonds and securities, investment funds, corporate banks, preferred shares, rating for industrial and commercial companies, credibility assessment for introducing foreign capital, feasibility studies, asset valuations. Bonds, loan certificates, investment funds, structured finance, investment and corporate banks, credit information service. 25% market share for corporate bonds, 75% market share for bonds issuance. , 10 branches, 35 Chinese banks, project finance rating, Central Securities Registration Settlement Co, specialised or expert corporate ratings, securities and bonds Beijing Securities Co.
In order to protect their reputation, agencies are moving prudently in the Chinese market by declining work where information is insufficient. Moody’s has entered in April 2006 a partnership with China Chengxin Securities Rating Co. Ltd. In the short and medium term it is highly unlikely that a significant number of enterprises, especially smaller ones, will get an external rating. Thus the rating universe cannot be expected to grow substantially. 3 Exit Mechanisms in Banking As mentioned by Wu Xiaoling in an interview (Ye W.
This means that the final decision and approval power lies with the State Council, rather than with the 21 22 Financial Infrastructure central bank itself. PBOC reports to the State Council to get its approval on all important issues, for example setting interest rates, money supply targets and exchange rates. PBOC’s capital is held by the Chinese state. Its governors are nominated, appointed and removed by the Premier and approved by China’s legislative body, the NPC. PBOC is responsible for formulating and implementing monetary policy and its goal is to ensure the stability of the financial system.