The world has become fixated on Chinanot just on its economy but also on its capital markets reform story. The development of the Chinese bond market is central to those reforms. Over the next few years, all developed countries in the West will have an active interest in learning more about this important financing opportunity — both from a trading/investment, as well as from a policy point of view. There is no better authority than Dr. Jian Gao on this topic. This book brings all of his considerable experience and knowledge about these markets to investors worldwide who are either active or looking to become involved in the emergence of the bond market in China. In China, fixed income debt instruments outstanding continue to grow, and so does participation in this market from foreign securities firms and investors. As the driving force behind many innovations in this market, Dr. Jian Gao, vice chairman of the China Development Bank, has contributed to the introduction of new debt instruments in the interbank market, such as floating rate notes (FRNs), puttable bonds, callable bonds, strip bonds, 30-year bonds, swaption-embedded bonds, and forward rate bonds. Responsible for CDBs corporate bond underwriting business, he is generally regarded as one of the leading authorities on bond markets in China.
Book Details:
- Author: Jian Gao
- ISBN: 9780470114698
- Year Published: 2007
- Pages: 736
- BISAC: BUS036000, BUSINESS & ECONOMICS/Investments & Securities / General
About the Book and Topic:
The world has become fixated on Chinanot just on its economy but also on its capital markets reform story. The development of the Chinese bond market is central to those reforms. Over the next few years, all developed countries in the West will have an active interest in learning more about this important financing opportunity — both from a trading/investment, as well as from a policy point of view. There is no better authority than Dr. Jian Gao on this topic. This book brings all of his considerable experience and knowledge about these markets to investors worldwide who are either active or looking to become involved in the emergence of the bond market in China. In China, fixed income debt instruments outstanding continue to grow, and so does participation in this market from foreign securities firms and investors. As the driving force behind many innovations in this market, Dr. Jian Gao, vice chairman of the China Development Bank, has contributed to the introduction of new debt instruments in the interbank market, such as floating rate notes (FRNs), puttable bonds, callable bonds, strip bonds, 30-year bonds, swaption-embedded bonds, and forward rate bonds. Responsible for CDBs corporate bond underwriting business, he is generally regarded as one of the leading authorities on bond markets in China.
The rise of China as an emerging global economic powerhouse continues and, as part of that development, the rapid development of fixed income markets in China continues. This book focuses on that trend and covers these developing markets in a comprehensive manner, from the perspective of perhaps the No. 1 authority on fixed income markets China. It is sure to capture the attention of members of the global bond investment community, which regularly consider investment opportunities in China.
Support from Morgan Stanley–with a foreword by Stephen Roach, Chief Economist and Investment Strategist–and the leading market participants involved in China including the China Development Bank. Cutting-edge book on the capital markets of China by a the “father” of the modern Chinese bond market. Over the past 15 years, Dr. Jian Gao has published at least six books in Chinese on various aspects of modern finance in China. He has appeared at countless international conferences on Chinese and global finance — representing the nation as its leading spokesman on financial markets. In short, he is one of China’s brightest stars in the nation’s rapidly emerging entry into world financial markets. Burgeoning demand among global investors in the U.S. and Europe for fixed income debt instruments in China will increase only demand for this book. Comprehensive coverage of Treasury market issuance in China, the development of fixed income markets in China, including the primary and second market, government debt instruments, corporate bonds, collateralized bond market, and asset-backed securitizations.
About the Author
Dr. Jian Gao (Beijing, China) is the Vice Governor of China Development Bank (CDB). Prior to his current position, Dr. Jian Gao served as Assistant Governor of CDB (2001-2003) and as Chief Economist and Director General of the Treasury Department of CDB (1998-2001). Throughout his career, Dr. Jian Gao has made many outstanding contributions to the formation of Chinas Treasury bond market and has led a transition of CDBs issuing format from administrative placement to market-oriented selling. Over the years, he has introduced new instruments in the market and initiated a series of financial innovations to boost its liquidity. Since 2001, Dr. Jian Gao has been responsible for CDBs corporate bond underwriting business and has developed the use of bookkeeping in Chinese corporate bond issuance and turned CDB in the largest participant in Chinese corporate bond underwriting. He received his masters degree in Beijing University of Political Science & Law, his Ph.D. in Economics at the Institute of Public Finance, and was a Post-Doctoral Fellow at Harvard University. With a foreword by Stephen Roach, Chief Economist and Investment Strategist at Morgan Stanley.