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Noting down Chinas financial reform(中國金融改革的探索與實踐——楊凱生金融筆記) 版權信息
- ISBN：9787119122915
- 條形碼：9787119122915 ; 978-7-119-12291-5
- 裝幀：一般膠版紙
- 冊數：暫無
- 重量：暫無
- 所屬分類：>
Noting down Chinas financial reform(中國金融改革的探索與實踐——楊凱生金融筆記) 內容簡介
Noting Down China's Financial Reform is a review and summary of the most important practices and major events in ttie reform and development of China's financial industry since the 1990's. A record of the process of China's firtaocial reform， it interpfets and ana；lyzes the reform principles and policies with a senior banker's insight ovef the past 20 years.
Noting down Chinas financial reform(中國金融改革的探索與實踐——楊凱生金融筆記) 目錄
Preface to the English EditionPrologue: The Bank Has Many Aspects, I Know Just a FewPart One China's AMCs in Their Early Days: The Key Facts to Understand Them A Reasonable Pricing of Distressed Assets Crucial for AMCs' Operations China's AMCs Are Not Losing to RTC Operations and Development of China's Financial AMCs Attracting Foreign Capital to Dispose of China's Distressed Assets How to Dispose of State-Owned Commercial Banks' NPLs Exploring a New Mechanism to Develop AMCs in the New Circumstances A New Path for Non-Performing Loan Securitization D'Long's Trusteeship-One of Huarong's Innovative Experiences in Distressed Asset DisposalPart Two China's Banking Reform and Development: The Big Picture and Some Unique Perspectives A New Chapter for ICBC-ICBC's First Press Conference After the Joint-Stock Reform Some Thoughts on Maintaining the CAR of Chinese Commercial Banks The Essence of Financial Lease The Classification of MSEs Needs to Be Improved China Should Be Alert to Risks Caused by Insufficient Financial Innovation The Real Economy and the Financial Industry Are Not Opposed to Each Other The Business Model and Challenges of the Chinese Banking Industry. On Establishing Banks With Private Capital Promoters Several Issues to Clarify About China's Banking Industry Excess Capacity and Excess Lending: Issues to Be Resolved When Entering the New Normal Promoting Healthy Development of China's Bill Market My Views on the Loan-to-Deposit Ratio Requirement Credit Asset Securitization Should Be Accelerated Some Insights From the Securitization of Credit Assets in the United States When Simply Expanding Investment Is no Longer a Good Idea Some Thoughts on the Debt-to-Equity SwapPart Three 2008 Financial Crisis: Reflections on Some Critical Issues The Subprirne Mortgage Crisis From a New Perspective Two Points on Improving the Fair Value Measurement A Rational Look at Standard & Poor's Rating Revision The Fifth Anniversary of Lehman Brothers' FallPart Four Internet Finance: What Is Right and What Is Wrong Thoughts on Internet Finance Development of Internet Finance Needs Healthy and Good Cultural Support Integration, Inheritance and Innovation Are the Way Forward for Internet Finance What Does Financial Innovation Need in Addition to Technology? How Commercial Banks Build Their Big-Data Capability and Apply it in Risk Management Big-Data Misinterpretation in Internet Finance and Its Examples Sustainable Development of Internet Finance Needs Reining in Trial-and-Error Costs . Epilogue: Follow Dialectics and Avoid Overstatement
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Noting down Chinas financial reform(中國金融改革的探索與實踐——楊凱生金融筆記) 節選
《中國金融改革的探索與實踐：楊凱生金融筆記（英文）》： The asset recovery ratio notched up by the Chinese AMCs was no less than those of global models like the RTC and KAMCO.Notably， the high asset and cash recovery ratios were achieved against comparatively low asset quality. When the RTC acquired USD465 billion assets from nearly 1，000 S&Ls， only one-third of the assets were classifted as NPLs， and 92 percent of the NPLs had collaterals. In contrast， among the purchased assets of China's four AMCs， a large part of the bad debts （including de facto ones） were eligible for write-offs， yet remained on the banks' balance sheets due to all kinds of reasons， and the proportion stood at almost 40 percent. A closer feview of the collaterals showed that over 70 percent of the four AMCs' purchased assets belonged to credit loans， whereas the validity of the collaterals and guarantees of the remaining less than 30 pefcent of secured loans were still questionable. Given those scenarios， it was extremely tough for the AMCs to achieve such high recovery ratios， which should assure us of the promising future of China's fmancial AMCs. We must also un-derline the low operating cost. In 2000， the total financial expense of the four AMCs was around RMB1.48 billion， only 0.1 percent of the total distressed assets under their management， while the annual percentage of the RTC's financial expense on average was over 1 percent， a 1：10 ratio in comparable costs. In other words，the Chinese AMCs realized a higher return with less expense and effectively controlled the cost for handling legacy issues. 4. Promoting market-oriented resource allocation and econom-ic restructuring by mergers and acquisitions （M&As）， asset reor-ganization， bankruptcy liquidation， etc. We firmly believe that dis-In the past two years， the four AMCs undertook distressed asset disposal with strong self-motivation to serve the bigger picture of economic restructuring. With a portfolio of measures such as asset sale， auction， call for bids， asset and debt restructuring， asset re-placement， and M&As， they restructUfed thousands of enterprises'on-balance-sheet assets worth tens of billions of renminbi. It even led to the reorganization of enterprises in different industries and regions and under different ownerships. For example， asset restructuring in building material and textile industries opumized their industrial organizations； the transfer of distressed assets to private capital and multinational corporations diversified the ownership structure of SOEs； the 300-odd M&As channeled useful resources to enterprises with competitive edge and enabled SOEs to grow bigger and stronger； through debt re-covery and bankruptcy liquidation， nearly 1，000 companies with poor management， irreversible losses， resource wastage or heavy pollution were phased out. The reforms in corporate governance also led to agreements on IPOs assistance， underwriting and spon-sorship with dozens of enterprises. In addition， the four AMCs helped more than 20 listed companies with their reorganization，which revitalized the companies， helped the securities market stay stable and safeguarded investors' interests.tressed assets should be viewed as a kind of misallocated resource. ……
Noting down Chinas financial reform(中國金融改革的探索與實踐——楊凱生金融筆記) 作者簡介
楊凱生，武漢大學經濟學院畢業，博士，研究員。現任中國銀行保險監督管理委員會靠前咨詢委員會委員。北京大學經濟學院兼職教授、中國政法大學兼職教授、中國人民銀行金融研究所博士生導師、北京大學互聯網金融研究中心特約不錯研究員。楊凱生曾任中國華融資產管理公司總裁，中國工商銀行副董事長、行長，工銀瑞信資產管理公司董事長、南非標準銀行副董事長。楊凱生是第十一屆、十二屆全國政協委員。
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