Opportunities In: Chinas Capital Markets

Publication Date	November 2007
Publisher	IFR Market Intelligence
Product Type	Report
Pages	125
ISBN Number	not applicable
Product Code	IFR00002

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Summary

By Elliot Wilson

It's axiomatic that China offers vast opportunities for banks and other corporates keen to share in perhaps the most extraordinary economic transition in history. Yet the country's huge unemployment, groaning infrastructure, growing environmental problems and restrictive regulations, among a host of other factors, conspire to create many hazards for the unwary investor.

Opportunities in China's Capital Markets offers a comprehensive analysis of the state of China's economy and banking system. Based on extensive original research, including interviews with many prominent figures, both domestic and foreign, within the Chinese capital markets, this report should be vital to everyone looking to exploit China's huge range of opportunities while keeping their shirts on their backs.

Major themes explored include:

The outlook for the Chinese economy
Capital market reforms to date, and those in the pipeline
The future development of China's banking systems
China's investment plans for its US$1.2trn of foreign reserves
Opportunities and pitfalls for banks and investors.

Content

Executive Summary
Chapter
- The Macro Situation Chinas Economy And Beyond
- The Positives
- The Negatives
- The Rocky Road Ahead
- Chinas Investment Needs
- The Thirst For Energy Can It Continue?
- The Need To Push Jobs And Capital Up The
- Value Chain
- The Branding Of China
- An Unenviable Challenge
- China-Bashing
- Brand Attractiveness
- The Dark Arts Of Allure
- The Next Generation Of Brands
- Managing Foreign Firms
- Environmental Pressures
- More Bad News
- Xenophobia Rules
Chapter
- The Rise Of Chinas Equity Markets
- Background
- Capital Raising
- Foreign Listings: Inside-Out
- Foreign Listings: Outside-In
- The Future Of China Ipos
- Hong Kong Stability
- The Shanghai Squeeze
- When Hong Kong Listings Fail
- Will Shanghai Overtake Hong Kong?
- The Through-Train
- Uncertain Plans
- The Through-Train Rationale
- Legal Person Shares The Ultimate
- Government Overhang
- The Path Ahead
- The Securities Players
- The Road Ahead
- China International Capital Corp (Cicc)
- Citic Group
- Goldman Sachs And Ubs
Chapter
- Chinas Debt Markets
- Background
- The Markets
- Sovereign Debt
- Long-Term Corporate Debt The
- Awakening
- Making The Sale
- Short-Term Paper
- Rating Agencies
- Municipal Bonds
- Securitisation
Chapter
- Chinas Banks
- Background
- What Is The Point Of Chinas Leading
- Banks?
- Whats Next?
- Who Controls The Banks?
- Chinas Leading Banks Now And Down
- The Line
- Industrial And Commercial Bank Of
- China
- Bank Of China
- China Construction Bank
- Agricultural Bank Of China
- China Development Bank
- Accommodating The Customer
- The Best And Worst Of Chinas Banks
- Foreign Barbarians At The Gate
- Big Bad Loans
- The End Of The Failed State
- Restructuring The Industry
Chapter
- China's Financial And Institutional Investor Markets
- Mutual Funds
- Wealth Management Services And Private
- Banking
- Asset Management Companies
- National Social Security Fund
- Chinas Foreign Exchange Wealth
Chapter
- Chinas M&A Sector
- Overview And Background
- The Next Round Of State Consolidation
- State Consolidation: Attracting Attention
- Where The Money Will Be Made
- A New Era Of China M&A
- State-Supported Overseas Investment
- Dipping Into The Market
- Bagging The Big Elephants
- The Private Sector
- Why Buy Abroad?
- Patchy Margins
- The Changing Landscape
- The Grab For Energy Where China Wins,
- For Now
- Cic Chinas Powerful M&A Sidekick
- Inward M&A
- Who Will Be Bought?
- Cicc
- Unocal-Cnooc
- Dlong
Chapter
- Private Equity In China
- Introduction
- The First Big Deals
- Making Private Equity Acceptable
- Too Much Chasing Too Little
- Confronting Challenges
- Future Investments
- Getting The Deals Done
- How To Sell Out
- Running Your Private Equity Firm
- Technology And It Investments
- How China Is Different
- Regulations
- Who Do You Need Approval From?
- Regulators
- How To Avoid Elephant Traps
- The Offshore Option
- The Practitioners
- Buyout Deals
- Growth Capital
- Venture Capital
- Distressed Debt