Capital Markets

Chinese Capital Markets Research, Summer 2014

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

Special Feature

Local Governments’ Procurement of Funds for Urbanization Projects: Building a Diverse Funding System
ZHANG Chenghui, Research Institute of Finance, Development Research Center
Securing Fiscal Resources for Urbanization: Challenges and Solutions
LIU Shangxi, Research Institute of Fiscal Science, Ministry of Finance

Financial and Capital Market Reform

Outlook for China’s Capital Markets in 2014
LI Yongsen, Finance and Securities Institute, Renmin University
Liberalization of the Exchange Rate, Interest Rates, and Capital Movements in Preparation for China’s Financial Opening—The Effectiveness of Monetary Policy will also be Enhanced
C-H Kwan, Nomura Institute of Capital Markets Research
Chinese Government Publishes New Article 9 Opinion on Capital Market Development
Eiichi Sekine, Nomura Institute of Capital Markets Research

Macro Finance

China’s Real Estate Market Entering a Phase of Adjustment: Sound of a Collapsing Bubble
C-H Kwan, Nomura Institute of Capital Markets Research

International Finance

US-China Financial Cooperation: Progress, Characteristics, Challenges, and Strategies
LIU Dongmin & HE Fan, Institute of World Economy and Politics, Chinese Academy of Social Sciences

HOT TOPIC

Shanghai-Hong Kong Stock Connect to Promote Yuan-Denominated Securities Investment in Both Directions
Eiichi SEKINE, Nomura Institute of Capital Markets Research