From the Back Cover
China’s Financial Markets:An Insider’s Guide to How the Markets WorkSalih N. Neftci and Michelle Yuan Menager-Xu“This timely and comprehensive book is certain to become an essential reference tool for anyone interested in the development of financial markets in China. Its broad and up to date coverage makes it particularly valuable for understanding the rapidly evolving nature of the financial system on the Mainland.” –Hans Genberg, Director, Hong Kong Institute for Monetary Research “This book is destined to be a standard reference for anyone interested in China’s financial markets.”–Herbie Skeete, Managing Director, Mondo Visione Ltd, Publishers of the Handbook of World Stock, Derivative & Commodity ExchangesAmong the hundreds of books about doing business in China, this book stands out. It is a comprehensive and careful description of each sector of China’s financial markets, written by insiders–Chinese executives and officials in these sectors. Translated into English and carefully edited by finance professionals Salih Neftci and Michelle Yuan Menager-Xu, this book provides a look into the details of China’s financial markets that outsiders could never access on their own.Salih Neftci, an expert in finance whose teaching and research span North America, Europe and Asia, and Michelle Yuan Menager-Xu, a Chinese finance professional currently working in Geneva, bring together an unprecedented collection of Chinese insiders to provide a detailed description of the banking system, the money, equity, futures, FX, and bond markets, the insurance sector, the mortgage market and mortgage instruments, and the regulators. Readers will learn how each of these financial sectors operates, how the government, regulators, and the central bank are involved, each sector’s history, size and projected growth, an analysis of its current situation and discussion of future trends, the major players, and how the game is played. This is a must-read book for serious finance professionals seeking financial success in this emerging market.Salih N. Neftci teaches at the Graduate School, City University of New York, ICMA Centre, University of Reading, UK, and at the Hong Kong University of Science and Technology, Hong Kong.Michelle Yuan Menager-Xu teaches at IFM, Geneva, and is a Senior Financial Consultant at Ruiji-Regis, a major consulting firm based in Shanghai, China (www.ruiji-regis.com).[Inside front jacket flap]China’s Financial Markets:An Insider’s Guide to How the Markets WorkSalih N. Neftci and Michelle Yuan Menager-XuTable of ContentsCh 1 An Overview of China’s Financial Markets –Lisheng Liu, Renmin University and Wuhan University, and Officer of the International Cooperative Department in the China Securities Regulatory CommissionCh 2 China’s Money Markets–Xu Zheng, Fund Manager for Yin Hua Fund Management CompanyCh 3 China’s Money Markets: Policies and the Banks–Thom Thurston, CUNYCh 4 China’s Foreign Exchange Markets–Yan Le, Deputy General Manager, Bank of China Trading CentreCh 5 China’s Bond Markets–Jiachun Le, Senior Editor and Reporter, Shanghai Securities NewsCh 6 China’s Convertible Bond Market–Qiang Liu, University of Electronic Science and Technology of ChinaCh 7 China’s Equity Markets–Wentao Tan, Treasury Dealer, Malayan Banking Berhad, Shanghai BranchCh 8 A History of China’s Stock Markets–Wentao Tan, Treasury Dealer, Malayan Banking Berhad, Shanghai BranchCh 9 China’s Futures Market–Wentao Tan, Treasury Dealer, Malayan Banking Berhad, Shanghai BranchCh 10 China’s Derivatives Markets–Michelle Yuan Menager-Xu, IFM, Geneva, and Senior Financial Consultant, Ruiji-Regis, ShanghaiCh 11 China’s Mortgage and Housing Market–Wu Xu Chuan, People’s Bank of China Research CenterCh 12 China’s Insurance Market–Lin Guan, China Insurance Regulation CommissionCh 13 Investment Funds in China–Xianjie Mu, Director, Golden Asset Management Co. Ltd, Shanghai
About the Author
Professor Neftci completed his Ph.D. at the University of Minnesota and was head of the FAME Certificate program in Switzerland. He taught at the Graduate School, City University of New York; ICMA Centre, University of Reading; and at the University of Lausanne. He was also a Visiting Professor in the Finance Department at Hong Kong University of Science and Technology. Known his books and articles, he was a regular columnist for CBN daily, the most influential financial newspaper in China.
Salih Neftci was already suffering from gliosarcoma, a malignant brain cancer, while writing the second edition. It published just 5 months before his death on April 15, 2009.
Michelle Yuan Menager-Xu graduated from the School of Business, University of Lausanne, Switzerland. She holds Master’s degrees in both Actuarial Science and in Banking & Finance. Michelle is an associate of the Swiss Actuarial Society, and has worked at various consulting firms and in insurance and reinsurance companies in both Switzerland and China. Previously she worked at Swiss Reinsurance Company in Zurich, Switzerland, and was in charge of business in the China Region (Mainland, Hong Kong, Taiwan and Macao), including risk management, reserve issues, and various insurance and bank-insurance product pricing. Currently she is writing her Doctoral Thesis at the Institute of Actuarial Science, Lausanne University. Her research focuses on applications of swaption pricing theory to surrender options found in insurance contracts. Her research areas are: risk management, FX market, Fixed income, financial engineering and tourism economics.
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