In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instrume...In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instruments》(Referred to IAS 39), rules of two main aspects, the classification and measurement of financial assets and the impairment model of financial assets have been changed in IFRS 9. Taking ICBC as an example, this paper studies the impact of changes in financial instruments on commercial banks. The study shows three impacts on commercial banks’ financial report. Firstly, the changes of the classification and measurement of financial assets will have limited impacts on commercial banks. Secondly, the expected-loss model will significantly increase the loan loss reserves under the new standard, thus reducing the net asset and net profit. Thirdly, the change in the measurement way of the equity instruments of available-for-sale securities will increase the fluctuation of the net profit. This study shows investors and regulators the impact of the new standard of financial instruments on commercial banks.展开更多
The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the ...The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the U.S.International Development Finance Corporation(DFC),to enhance U.S.development financing capabilities.To better understand the impact of the DFC on China’s development finance,this article analyzes the DFC’s purpose,functions,structure,and funding.Then it focuses on the purpose of establishing the DFC,providing a preliminary analysis of the potential motivation for its establishment.It also compares the China Development Bank(CDB)and the DFC based on their focused sectors.Finally,through an in-depth analysis of financial frictions in China-U.S.relations,this article argues that the DFC competes with China’s overseas development financing activities in the context of broader strategic competition between China and the U.S.展开更多
Excessive liquidity seriously affects Chinese economy. Thus, various policy proposals have been submitted by some scholars. The author holds that whatever form it may take, reducing trade surplus would harm China’s e...Excessive liquidity seriously affects Chinese economy. Thus, various policy proposals have been submitted by some scholars. The author holds that whatever form it may take, reducing trade surplus would harm China’s economic development. On the other hand, it is difficult to boost domestic consumption by increasing the resident spending on food, clothing etc. In order to consolidate the policy of domestic demand, it is important to separate production and non-production investment and create better economic conditions by accelerating the development of non-production investment and increasing the supply of "housing, traveling and education" related consumption.展开更多
On the eve of the grand celebrations marking the 45th anniversary for the founding of new China, the People’s Construction Bank of China, one of our country’s four pillars of the banking industry, welcomed its 40th ...On the eve of the grand celebrations marking the 45th anniversary for the founding of new China, the People’s Construction Bank of China, one of our country’s four pillars of the banking industry, welcomed its 40th birthday. The Government Administration Council decided on September 9, 1954, to establish the People’s Construction Bank of China to handle mainly appropriations for capital construction and floating capital loans for construction enterprises toexercise financial supervision of the rational use展开更多
The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep fo...The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks展开更多
Ⅰ. Introduction In the wake of the Debt Crisis of the early 1980s, the World Bank pub-lished a report to summarize developing countries’ experience in utilizingforeign capital. According to the report, "Foreign...Ⅰ. Introduction In the wake of the Debt Crisis of the early 1980s, the World Bank pub-lished a report to summarize developing countries’ experience in utilizingforeign capital. According to the report, "Foreign finance can promotegrowth through higher investment and technology transfers. It can allowcountries to adjust gradually to new circumstances in the world economy.展开更多
An innate sensitivity to and phobia of China’s rise seem to have gripped someWestern observers for years.Early back in the 19th century,Napoleon warned the West to“let Chinasleep”.“There lies a sleeping giant,”be...An innate sensitivity to and phobia of China’s rise seem to have gripped someWestern observers for years.Early back in the 19th century,Napoleon warned the West to“let Chinasleep”.“There lies a sleeping giant,”begins his well-known remark.“Let hersleep.For when she wakes,she will shake the world.”In the 1990s,these展开更多
Since the beginning of1995,the financial situation hasbeen gratifying with theimprovement of the macro-economic environment and thedeepening of financialrestructuring.Under the StateCouncil,the People’s Bank ofChina ...Since the beginning of1995,the financial situation hasbeen gratifying with theimprovement of the macro-economic environment and thedeepening of financialrestructuring.Under the StateCouncil,the People’s Bank ofChina has implemented thepolicy of tightening the moneysupply to a moderate degreeand strengthened thesupervision and control offinance,obtaining remarkableresults.Recently Dai Xianglong,Governor of the People’s Bankof China,introduced thefollowing aspects of thesituation:展开更多
Influenced by a host of new policies on real property loans and foreign investment restrictions, real estate finance is in the midst of directional change characterized by fluctuations in domestic and overseas financi...Influenced by a host of new policies on real property loans and foreign investment restrictions, real estate finance is in the midst of directional change characterized by fluctuations in domestic and overseas financing arrangements. The long-展开更多
No.1-2 SPECLAL REPORT Sino-African Trade Cooperation China Should Attach Importance to GNP as well as GDP Foreign Trade in 2007,Stable and Rapid Development Forecasted Governor Punjab,Pakistan: Pakistan-China Friend-
The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was es...The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much展开更多
Since 1979 China has adopted a series of measures to reform its financial system. These measures involved establishing the macro control system of the central bank. setting up policy banks, perfecting the financial or...Since 1979 China has adopted a series of measures to reform its financial system. These measures involved establishing the macro control system of the central bank. setting up policy banks, perfecting the financial organization system, developing commercial banks and the monetary market, and reforming the foreign currency management system. The reforms of the past 15 years have brought great changes to China’s financial system. The old unified banking system was broken and diversified financing institutes emerged. Now a financial system comprising the central bank, specialized banks, commercial banks, insurance companics, trust展开更多
China's hydropower equipment manufacturing technology has benef ited from the policy of reform and opening-up and the "Three Gorges Model." The latter means an approach of self-supply of hydropower equip...China's hydropower equipment manufacturing technology has benef ited from the policy of reform and opening-up and the "Three Gorges Model." The latter means an approach of self-supply of hydropower equipment. Based on the foundations laid through independent research and development, by way of digesting, absorbing and innovating the technologies introduced from abroad for the Left Bank Station of the Three Gorges Hydropower Station, domestic suppliers independently designed and manufactured large hydropower units for the Right Bank Station of the Three Gorges and many other large hydropower stations in China.展开更多
The non-performing assets of China’s financial institutions totaled RMB l,800 billion. Has this threatened the safety of China’s financial industry? Where do this large amount of nonperforming assets come from?
文摘In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instruments》(Referred to IAS 39), rules of two main aspects, the classification and measurement of financial assets and the impairment model of financial assets have been changed in IFRS 9. Taking ICBC as an example, this paper studies the impact of changes in financial instruments on commercial banks. The study shows three impacts on commercial banks’ financial report. Firstly, the changes of the classification and measurement of financial assets will have limited impacts on commercial banks. Secondly, the expected-loss model will significantly increase the loan loss reserves under the new standard, thus reducing the net asset and net profit. Thirdly, the change in the measurement way of the equity instruments of available-for-sale securities will increase the fluctuation of the net profit. This study shows investors and regulators the impact of the new standard of financial instruments on commercial banks.
文摘The United States passed the Better Utilization of Investment Leading to Development(BUILD Act),as a counterweight to China’s overseas development activities.Under the Act,the US established a new federal agency,the U.S.International Development Finance Corporation(DFC),to enhance U.S.development financing capabilities.To better understand the impact of the DFC on China’s development finance,this article analyzes the DFC’s purpose,functions,structure,and funding.Then it focuses on the purpose of establishing the DFC,providing a preliminary analysis of the potential motivation for its establishment.It also compares the China Development Bank(CDB)and the DFC based on their focused sectors.Finally,through an in-depth analysis of financial frictions in China-U.S.relations,this article argues that the DFC competes with China’s overseas development financing activities in the context of broader strategic competition between China and the U.S.
基金a research outcome of the author under a key program of National Social Sciences Fund (08AJY006)."An Argument on Excess Liquidity" and "Second Argument on Excess Liquidity"published on the fifth and sixth issues of the journal Finance&Trade Economics are also an outcome of this research
文摘Excessive liquidity seriously affects Chinese economy. Thus, various policy proposals have been submitted by some scholars. The author holds that whatever form it may take, reducing trade surplus would harm China’s economic development. On the other hand, it is difficult to boost domestic consumption by increasing the resident spending on food, clothing etc. In order to consolidate the policy of domestic demand, it is important to separate production and non-production investment and create better economic conditions by accelerating the development of non-production investment and increasing the supply of "housing, traveling and education" related consumption.
文摘On the eve of the grand celebrations marking the 45th anniversary for the founding of new China, the People’s Construction Bank of China, one of our country’s four pillars of the banking industry, welcomed its 40th birthday. The Government Administration Council decided on September 9, 1954, to establish the People’s Construction Bank of China to handle mainly appropriations for capital construction and floating capital loans for construction enterprises toexercise financial supervision of the rational use
文摘The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks
文摘Ⅰ. Introduction In the wake of the Debt Crisis of the early 1980s, the World Bank pub-lished a report to summarize developing countries’ experience in utilizingforeign capital. According to the report, "Foreign finance can promotegrowth through higher investment and technology transfers. It can allowcountries to adjust gradually to new circumstances in the world economy.
文摘An innate sensitivity to and phobia of China’s rise seem to have gripped someWestern observers for years.Early back in the 19th century,Napoleon warned the West to“let Chinasleep”.“There lies a sleeping giant,”begins his well-known remark.“Let hersleep.For when she wakes,she will shake the world.”In the 1990s,these
文摘Since the beginning of1995,the financial situation hasbeen gratifying with theimprovement of the macro-economic environment and thedeepening of financialrestructuring.Under the StateCouncil,the People’s Bank ofChina has implemented thepolicy of tightening the moneysupply to a moderate degreeand strengthened thesupervision and control offinance,obtaining remarkableresults.Recently Dai Xianglong,Governor of the People’s Bankof China,introduced thefollowing aspects of thesituation:
文摘Influenced by a host of new policies on real property loans and foreign investment restrictions, real estate finance is in the midst of directional change characterized by fluctuations in domestic and overseas financing arrangements. The long-
文摘No.1-2 SPECLAL REPORT Sino-African Trade Cooperation China Should Attach Importance to GNP as well as GDP Foreign Trade in 2007,Stable and Rapid Development Forecasted Governor Punjab,Pakistan: Pakistan-China Friend-
文摘The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much
文摘Since 1979 China has adopted a series of measures to reform its financial system. These measures involved establishing the macro control system of the central bank. setting up policy banks, perfecting the financial organization system, developing commercial banks and the monetary market, and reforming the foreign currency management system. The reforms of the past 15 years have brought great changes to China’s financial system. The old unified banking system was broken and diversified financing institutes emerged. Now a financial system comprising the central bank, specialized banks, commercial banks, insurance companics, trust
文摘China's hydropower equipment manufacturing technology has benef ited from the policy of reform and opening-up and the "Three Gorges Model." The latter means an approach of self-supply of hydropower equipment. Based on the foundations laid through independent research and development, by way of digesting, absorbing and innovating the technologies introduced from abroad for the Left Bank Station of the Three Gorges Hydropower Station, domestic suppliers independently designed and manufactured large hydropower units for the Right Bank Station of the Three Gorges and many other large hydropower stations in China.
文摘The non-performing assets of China’s financial institutions totaled RMB l,800 billion. Has this threatened the safety of China’s financial industry? Where do this large amount of nonperforming assets come from?
