Capital Markets

Chinese Capital Markets Research, Summer 2012

Chinese Capital Markets Research is published four times a year, in Japanese only. An English translation of the Table of Contents is provided here with links, when available, to related articles in English published by Nomura Institute of Capital Markets Research (NICMR). For other materials in English, please contact the author(s) or NICMR directly.

Contents

Financial and Capital Market Reform

China's Stock Exchanges Should Develop in Line with Changing Times
ZHAO Pengfei, Associate Professor, Department of Economy and Administration, China Institute of Industrial Relations

Macro Finance

Is Shadow Banking Causing China's Version of the Sub-Prime Loan Problem?
HUANG Yiping, Peking University Center for Chinese Macroeconomic Research
CHANG Jian & YANG Lingxiu, Barclay's Capital
Common Determinants of China's Interest Rates, Exchange Rate, and Share Prices
Chihung KWAN, Nomura Institute of Capital Markets Research, Ltd

Foreign Exchange System

RMB Rate Approaching Equilibrium Level
Chihung KWAN, Nomura Institute of Capital Markets Research, Ltd.

International Finance

Internationalization of the RMB: Process, Challenges, and Pathway
BA Shusong, Development Research Center of the State Council

Financial Institution Management

China's 2011 Rankings of Underwriters and Initiation of Securities Industry Reform
Eiichi SEKINE, Nomura Institute of Capital Markets Research

HOT TOPIC

Intensifying Market Competition in RMB Offshore Trading

Eiichi SEKINE & Masanobu IWATANI, Nomura Institute of Capital Markets Research, Ltd.