China's Non-bank Financial Institutions: Trust and Investment Companies, Parts 63-358
World Bank Publications, Jan 1, 1997 - Business & Economics - 92 pages
Spanish excerpts from World Bank Technical Paper No. 280 (English), Stock no. 13206.
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accounts activities Almanac of China's Appendix Tables apply Bank of China bonds borrowing capital requirements China's Finance China's Trust CITIC Commercial Bank Law Company Law consolidation CSRC draft Trust Law DTCs enterprises entrusted established fiduciary Finance and Banking finance companies financial institutions financial leasing financial sector Financial Trust foreign exchange business ICBC interbank market International Trust Investment Companies investment funds issued lending level TICs liability licensed banks mutual funds NBFI department non-bank financial institutions operations overseas PBC branches PBC headquarters People's Bank percent provincial Provisional Regulations ratios real estate regulatory framework Renminbi reports risk RMB billion Scope of Business securities business securities companies securities firms securities markets Shandong Shanghai Shanghai Stock Exchange Shenzhen Shenzhen Stock Exchange specialized banks Stock Exchange subsidiaries Supervisory and Administration Tianjin TICs total assets trading Trust and Investment trust company trust deposits Trust Law underwriting World Bank
Page x - EEA European Economic Area EEC European Economic Community EFTA European Free Trade Association...
Page 7 - The government has established three policy banks, namely, the State Development Bank of China, the Agricultural Development Bank of China and the Export-Import Bank of China. These...
Page 59 - Policy banks State Development Bank of China Agricultural Development Bank of China Export-Import Bank of China State commercial banks...
Page 59 - China Everbright Bank Hua Xia Bank China Investment Bank Guangdong Development Bank Shenzhen Development Bank Pudong Development Bank Shenzhen Merchants Bank Fujian Industrial Bank Yantai...
Page 29 - The Provisional Regulations of April 1986 prohibit TICs from operating beyond their business scope unless authorized to do so by the PBC or State Council. This was not strictly enforced. The regulations also emphasize independence from the government (Article 23), (despite continued strong links to government at all levels) but permits trust activities to continue as departments of specialized banks ('in accordance with the division of business for specialized banks') (Article 30).
Page 21 - TICs have increasingly ventured into new high risk areas in the securities business. Initially, TICs restricted themselves to operating as brokers for clients, but are now taking greater risks, dealing on their own account and adopting market positions. Further, many TICs have ventured into underwriting, which, with increasing competition due to the use of 'firm commitment' methods, and a decline in IPO underpricing, also implies increased risks for the underwriter.
Page 28 - Minimum capital requirements for foreign exchange transactions have also been redefined; in the Regulations on NBFIs in Foreign Exchange Transactions (1992) and the Administration of Foreign Exchange Business Provisions (1993), in order to deal in foreign exchange, a national TIC must have at least US$15 million of paid up capital in spot exchange or the equivalent of this amount of spot exchange funds in other currencies. Provincial TICs must have US$7.5 million or equivalent.
Page 19 - Their range of services has grown to include commercial banking, trust services, guarantees, direct investment, funds management, consulting, and project management. Besides economic development projects, some TICs have become a significant force in the securities markets, engaging in underwriting and securities dealing in addition to broking and trading. TICs have been active in real estate development and in the foreign exchange markets. (1) As a result, TICs in China do not resemble financial...
Page 21 - TICs, as opposed to banks, and have collected 'funds', labeled enterprise funds or labor funds, for this purpose. large amount of real estate lending undertaken by the TICs, especially around the boom of 1993. A third reason is the high degrees of risk concentration, not only in real estate or construction but also in other sectors, such as agriculture, which are subject to seasonal fluctuations and natural disasters. TICs do not compute risk concentration ratios.