Establishing A Foreign Exchange Futures Market In China PDF Download
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| Author | : Mr. Zhongxia Jin |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2021-11-12 |
| Genre | : Business & Economics |
| ISBN | : 1513584847 |
Download Establishing a Foreign Exchange Futures Market in China Book in PDF, ePub and Kindle
During China’s transition toward a more flexible exchange rate, it is essential to further develop its foreign exchange (FX) derivatives markets to meet the growing hedging needs associated with greater exchange rate fluctuations. Although over-the-counter (OTC) FX derivatives markets already exist in China, it lacks a FX futures market that offers critical complementarities. With standardized products, greater transparency and centralized oversight, a FX futures market can better satisfy the hedging needs of small and medium-sized enterprises and enhance regulatory efficiency. To address concerns regarding whether FX futures market will amplify the volatility of spot exchange rates, this paper analyzes the impact of establishing FX futures markets on spot market volatility using data from major emerging market economies. The result shows that FX futures market is not empirically associated with an increase in spot market volatility; in some cases, it is even associated with a decrease in spot market volatility. This paper further suggests that for a well-functioning FX futures market to be established, it is essential for China to substitute the inefficient documentation requirement of underlying exposures with a new set of market-oriented measures for the purpose of prudent regulation.
| Author | : Peter G. Zhang |
| Publisher | : John Wiley & Sons |
| Total Pages | : 242 |
| Release | : 2011-02-15 |
| Genre | : Business & Economics |
| ISBN | : 0470827408 |
Download The Chinese Yuan Book in PDF, ePub and Kindle
Few topics have attracted as much attention worldwide in recent years as the RMB. These debates have gained added urgency in light of the financial crisis and the topic of RMB revaluation is now being actively debated in countries all over the world from Tunisia to the United States. This book explores the ever-changing role of the RMB and the related derivative products. However, it does so from a view that is heavily influenced by the fallout from the financial crisis as well as the in the context of the increasing maturity of the Chinese capital markets. The author has drawn on his experience as a regulator to provide invaluable views, insights and information on RMB derivative products and the development of this market going forward. Key topics include: Overview of current China economy and its capital market In-depth analysis on the China's banking system and foreign exchange system Extensive analysis of on-shore and off-shore financial products in China Explanation of the needs and reasons for RMB products innovation Insights into the internationalization of the RMB Not only will this book leave its readers with a much clearer idea of the structure of China's capital markets but it also gives insights on the market going forward leveraged through Peter Zhang's many years of experience as both a senior banker and through his integral role in the key regulatory authority of the banking sector, the CBRC.
| Author | : Chengxi Yao |
| Publisher | : |
| Total Pages | : 200 |
| Release | : 1998 |
| Genre | : Business & Economics |
| ISBN | : |
Download Stock Market and Futures Market in the People's Republic of China Book in PDF, ePub and Kindle
This book describes the developments and technical aspects of China's newly formed financial markets and how they have fared against its socialist backdrop.
| Author | : Peter Guangping Zhang |
| Publisher | : World Scientific |
| Total Pages | : 403 |
| Release | : 2004-10-11 |
| Genre | : Business & Economics |
| ISBN | : 9814482242 |
Download Chinese Yuan (Renminbi) Derivative Products Book in PDF, ePub and Kindle
With the CNY revaluation perspectives, hundreds of billions of US dollars have been invested in various types of CNY-related derivative products. As a derivatives specialist with more than ten years' experience in the international financial market and with a working experience in China in the past few years, the author offers a volume on trading and other practical issues of CNY-related derivative products in the offshore marketplace.
| Author | : Salih N. Neftci |
| Publisher | : Elsevier |
| Total Pages | : 505 |
| Release | : 2007 |
| Genre | : Business & Economics |
| ISBN | : 0120885808 |
Download China's Financial Markets Book in PDF, ePub and Kindle
Publisher description
| Author | : Zhongxia Jin |
| Publisher | : Taylor & Francis |
| Total Pages | : 143 |
| Release | : 2022-05-12 |
| Genre | : Business & Economics |
| ISBN | : 1000617971 |
Download Renminbi from Marketization to Internationalization Book in PDF, ePub and Kindle
This study looks into the significance of a floating exchange rate regime, further development of the foreign exchange derivatives market, and concurrent internationalization of the Renminbi (RMB) for a resilient, open, and growing Chinese economy. The first chapter analyzes the macroeconomic impact of foreign exchange intervention based on empirical studies on 26 economies, explaining why most countries favor a floating exchange rate regime under the existing international monetary system. The second chapter discusses the macroeconomic and microeconomic conditions that would facilitate a successful transition to a floating exchange rate. The final two chapters discuss the importance of further developing the foreign exchange derivatives market in China and explores paths toward further opening-up of the capital market and internationalization of the RMB under a floating exchange rate. Based on the authors’ decades of reflections and systematic analysis on real cases both in China and abroad, the title sheds lights on China’s exchange rate issues and research on exchange rate policy. This book will be an essential reference for scholars, students, professionals, and policymakers interested in exchange rate, currency internationalization, the financial market, especially the derivatives market, and the Chinese economy.
| Author | : Anjali Kumar |
| Publisher | : World Bank Publications |
| Total Pages | : 280 |
| Release | : 1994-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9780821330470 |
Download China Book in PDF, ePub and Kindle
World Bank Discussion Paper No. 251. This study investigates the conflicting viewpoints of small- and medium-size enterprises (SMEs) and banks: the SMEs contend that the supply of bank financing is largely unavailable to them, while banks maintain that lending to these enterprises remains low because of lack of demand. Surveys were conducted among enterprises to assess demand and sources of finance, and financial institutions were interviewed to analyze the reasons for constraints on the supply side. Results show that credit is rarely granted for starting a new business. Thus, the smaller the enterprise, the greater the equity finance share of the initial investment. Evidence also suggests that exploitation of highly profitable opportunities could be accelerated by these enterprises if they had greater access to external financing. The study concludes that financial liberalization has had little effect on the access of SMEs to bank credit. It explains why banks have shown little interest in developing these enterprises as a market niche and suggests techniques that banks could adopt to overcome lending risks.
| Author | : K. C. Derrick M. Wilde |
| Publisher | : Lawbook Company |
| Total Pages | : 320 |
| Release | : 2000 |
| Genre | : Law |
| ISBN | : |
Download China's International Transactions Book in PDF, ePub and Kindle
| Author | : Paul Sau Leung Yip |
| Publisher | : World Scientific |
| Total Pages | : 439 |
| Release | : 2011-05-26 |
| Genre | : Business & Economics |
| ISBN | : 9814466522 |
Download China's Exchange Rate System Reform: Lessons For Macroeconomic Policy Management Book in PDF, ePub and Kindle
The author of this book is the original proponent of China's exchange rate system reform announced in 2005. This book discusses:Through these discussions, the author hopes to share his knowledge on macroeconomic policy management accumulated over the past thirty five years. In particular, he would like to share his insights on macroeconomic policy management before, during and after an asset inflation era or a crisis period. He would also like to warn policy makers and financial investors on the likelihood of an asset bubble and then a crisis in economies outside the US. The author hopes this book could eventually stimulate the emergence of “macroeconomic policy management” as a new and important discipline in economics.While the focus of the book is on macroeconomic policy management, it also offers important lessons and strategies on share and property investments. Thus, economists, policy makers, central bank officials, economics students, business and finance professionals, individual investors and academia in other disciplines will find the book useful.
| Author | : Charles Albert Eric Goodhart |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 236 |
| Release | : 2003 |
| Genre | : Business & Economics |
| ISBN | : 9780199261109 |
Download Intervention to Save Hong Kong Book in PDF, ePub and Kindle
By August 1998, the Hong Kong economy had become threatened not only by the natural consequences of the Asian crisis (1997-98), but also by waves of speculation, betting that the authorities would be forced to abandon the linked exchange rate (to the US dollar). When facing previous speculative attacks (starting October 1997), the authorities had followed traditional policies of raising interest rates. But by August 1998, such policies had helped to batter asset markets; property prices and output were falling, and confidence was low. Moreover, the speculators had developed an ingenious 'double play', simultaneously selling both the foreign exchange market and the Hang Seng equity market short; whether the authorities used an interest rate defense, or abandoned the 'link', the speculators would gain either way. So, the authorities decided on a bold, unexpected and unconventional response to reports of a further attack. They would undertake counter-intervention, again both in the equity and foreign exchange markets. This book provides a fascinating story in itself, and insights into what lessons academics and practitioners can learn from the turbulent events of the time.
