[PDF] Law And Practice Of Debt Finance In Modern China eBook

Author : Xin Zhang
Publisher : Springer Nature
Page : 327 pages
File Size : 24,50 MB
Release : 2021-10-23
Category : Law
ISBN : 9811663408

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This book provides updated, full-picture analysis of the laws and practices of cross-border debt finance in the PRC. It is featured by the first-handed experiences of the author’s academic research and legal practice in this field over two decades. The author discusses legal and regulatory issues, transaction structures and documentation in relation to two debt finance products: loan and bond, covering the inbound structure (Chinese debtors’ raising funds from the international market) and the outbound structure (Chinese creditors’ supplying funds to the international market). For cross-border loans, this book thoroughly illustrates the foreign debt regulatory regime in the PRC and approaches the lending by Chinese banks to support exports and overseas investments under the “Belt and Road Initiative” (BRI). For cross-border bonds, it discusses how Chinese issuers, by designing various transaction structures, enter into the international bond market, and then researches the “opening-up” of Chinese bond market to both international issuers (for issuing “Panda Bonds”) and investors (for purchasing Chinese bonds). This book is used as an authoritative source for not only students and researchers, but also bankers and legal practitioners, who are interested in the Chinese debt finance market.

Author : Wojciech Maliszewski
Publisher : International Monetary Fund
Page : 43 pages
File Size : 29,80 MB
Release : 2016-10-14
Category : Business & Economics
ISBN : 1475545282

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Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain.

Author : Lerong Lu
Publisher : Routledge Research in Finance and Banking Law
Page : 182 pages
File Size : 43,94 MB
Release : 2020-04
Category :
ISBN : 9780367513955

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This book explores China's private lending market from historical, economic, legal, and regulatory perspectives. Private lending refers to moneylending agreements between business borrowers and their debt investors without the involvement of banks. In China, it remains difficult for private entrepreneurs to obtain sufficient loans from state-owned banks. Thus, private lending has been a vital alternative financing channel for over 80 million businesses which are reliant on private funds as their major source of operating capital. The market volume of private financing stands at 5 trillion yuan ($783bn), making it one of the largest shadow banking systems in the world. Despite the wide popularity and systemic importance of private lending activities, they have remained outside of the official regulatory framework, leading to extra financial risks. In 2011, China's private lending sector encountered a severe financial crisis, as thousands of business borrowers failed to repay debts and fell into bankruptcy. Lots of bosses who found it impossible to liquidate debts ran away to hide from creditors. The financial turmoil has caused substantial monetary losses for investors across the country, which triggered social unrest and undermined the financial stability. This book is a timely work intended to demystify China's private lending market by investigating its historical development, operating mechanism, and special characteristics. It evaluates the causes and effects of the latest financial crisis by considering a number of real cases relating to helpless investors and runaway bosses. It conducts an in-depth doctrinal analysis of Chinese laws and regulations regarding private lending transactions. It also examines China's ongoing financial reform to bring underground lending activities under official supervision. Finally, the book points out future development paths for the private lending market. It offers suggestions for global policymakers devising an effective regulatory framework for shadow banking. It appeals to researchers, lecturers, and students in several fields, including law, business, finance, political economy, public policy, and China study.

Author : Lerong Lu
Publisher :
Page : 0 pages
File Size : 26,33 MB
Release : 2019
Category : Commercial loans
ISBN : 9781138331655

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This book explores China's private lending market from historical, economic, legal, and regulatory perspectives. It is a timely work to demystify China's private lending market by investigating its historical development, operating mechanism, and special characteristics.

Author : Hong Kong Institute of Bankers (HKIB)
Publisher : John Wiley & Sons
Page : 256 pages
File Size : 48,81 MB
Release : 2012-09-04
Category : Law
ISBN : 0470827645

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A solid understanding of how banks operate is crucial to grasp the functioning of modern society. Banks are an intrinsic part of business, finance, and everyday life. Modern banking is regulated by a sophisticated set of laws and regulations that are constantly evolving. Banking Law and Practice from the Hong Kong Institute of Bankers outlines and explains these laws and regulations clearly and in detail. This regulatory framework has a deep impact on banks, bankers, and anyone that deals with them, which is the overwhelming majority of society. This high level of impact makes Banking Law and Practice an important book as well as a necessary and authoritative reference for industry professionals, students, and the public at large. Banking Law and Practice discusses a range of topics that have a direct bearing on the day-to-day operations of banks, from contracts to how to ensure safe and secure lending. It examines the development and current state of banking legislation and regulation and facilitates bankers and their institutions to shape their practice to meet all the necessary legal and regulatory requirements. Students, industry professionals, and the public at large will welcome the thorough and clear explanations of the legal and regulatory framework in which banks operate. This book is essential reading for candidates studying for the HKIB Associateship Examination and anyone else seeking expert knowledge of the legal and regulatory structure affecting banks in Hong Kong. Topics covered in this book include: Contractual Relationships Code of Banking Practice Money Laundering Negotiable Instruments Law Related to Securities Bankruptcy and Insolvency

Author : Dinny McMahon
Publisher : HarperCollins
Page : 285 pages
File Size : 37,14 MB
Release : 2018-03-13
Category : Business & Economics
ISBN : 1328846024

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A stunning inside look at how and why the foundations upon which China has built the world’s second largest economy, have started to crumble. Over the course of a decade spent reporting in China as a financial journalist, Dinny McMahon came to the conclusion that the widely held belief in China’s inevitable economic ascent is dangerously wrong. In this unprecedented deep dive, McMahon shows how, lurking behind the illusion of prosperity, China’s economic growth has been built on a staggering mountain of debt. While stories of newly built but empty cities, white elephant state projects, and a byzantine shadow banking system have all become a regular fixture in the press, McMahon goes beyond the headlines to explain how such waste has been allowed to flourish, and why one of the most powerful governments in the world has been at a loss to stop it. Through the stories of ordinary Chinese citizens, McMahon tries to make sense of the unique—and often bizarre—mechanics of the nation’s economy, whether it be the state’s addiction to appropriating land from poor farmers; or why a Chinese entrepreneur decided it was cheaper to move his yarn factory to South Carolina; or why ambitious Chinese mayors build ghost cities; or why the Chinese bureaucracy was able to stare down Beijing’s attempts to break up the state’s pointless monopoly over table salt distribution. Debt, entrenched vested interests, a frenzy of speculation, and an aging population are all pushing China toward an economic reckoning. China’s Great Wall of Debt unravels an incredibly complex and opaque economy, one whose fortunes—for better or worse—will shape the globe like never before.

Author : Odette Lienau
Publisher : Harvard University Press
Page : 342 pages
File Size : 46,54 MB
Release : 2014-02-18
Category : Business & Economics
ISBN : 0674726405

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Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that signs the contract, a country that fails to honor its obligations damages its reputation. Yet should today's South Africa be responsible for apartheid-era debt? Is it reasonable to tether postwar Iraq with Saddam Hussein's excesses? Rethinking Sovereign Debt is a probing analysis of how sovereign debt continuity--the rule that nations should repay loans even after a major regime change, or else expect consequences--became dominant. Odette Lienau contends that the practice is not essential for functioning capital markets, and demonstrates its reliance on absolutist ideas that have come under fire over the last century. Lienau traces debt continuity from World War I to the present, emphasizing the role of government officials, the World Bank, and private markets in shaping our existing framework. Challenging previous accounts, she argues that Soviet Russia's repudiation of Tsarist debt and Great Britain's 1923 arbitration with Costa Rica hint at the feasibility of selective debt cancellation. Rethinking Sovereign Debt calls on scholars and policymakers to recognize political choice and historical precedent in sovereign debt and reputation, in order to move beyond an impasse when a government is overthrown.

Author : Miriam Driessen
Publisher : Hong Kong University Press
Page : 208 pages
File Size : 31,49 MB
Release : 2019-06-28
Category : Social Science
ISBN : 9888528041

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WINNER – 2020 SEAA's Francis L. Hsu Book Prize Honorable Mention China’s new globalism plays out as much in the lives of ordinary workers who shoulder the task of implementing infrastructure projects in the world as in the upper echelons of power. Through unprecedented ethnographic research among Chinese road builders in Ethiopia, Miriam Driessen finds that the hope of sharing China’s success with developing countries soon turns into bitterness, as Chinese workers perceive a lack of support and appreciation from Ethiopian laborers and state entities. The bitterness is compounded by their position at the margins of Chinese society, suspended as they are between China and Africa and between a poor rural background and a precarious urban future. Workers’ aspirations and predicaments reflect back on a Chinese society in flux as well as China’s shifting place in the world. Tales of Hope, Tastes of Bitterness: Chinese Road Builders in Ethiopia sheds light on situations of contact in which disparate cultures meet and wrestle with each other in highly asymmetric relations of power. Revealing the intricate and intimate dimensions of these encounters, Driessen conceptualizes how structures of domination and subordination are reshaped on the ground. The book skillfully interrogates micro-level experiences and teases out how China’s involvement in Africa is both similar to and different from historical forms of imperialism. “A trailblazing ethnography that at once humanizes and complicates our understanding of the China-Africa encounter. Taking us deep into the personal, social, and working life worlds of Chinese and Ethiopian construction staff and laborers, Driessen mounts a powerful challenge against the clichéd narrative of China in Africa as a case of neocolonialism masterminded by Beijing.” —Ching Kwan Lee, UCLA, author of The Specter of Global China: Politics, Labor, and Foreign Investment in Africa “China rapidly transformed itself from an international aid recipient into a world-leading aid provider. This seemingly epochal shift, as this book powerfully demonstrates, is much more complex and less predictable than it appears to be. Driessen’s wonderfully perceptive ethnography and insightful analyses pave a new path in understanding ongoing global changes.” —Biao Xiang, University of Oxford, author of Global “Body Shopping”: An Indian Labor System in the Information Technology Industry

Author : Michael Ginsberg
Publisher : BQB Publishing
Page : 368 pages
File Size : 50,37 MB
Release : 2021-07-01
Category : Fiction
ISBN : 1952782090

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"A deftly crafted thriller that kept me turning pages---through politics, money, and murder---to the ending I didn't see coming." - Chris DeRose, New York Times Bestselling Author of The Fighting Bunch. A political thriller, tied in to real events, about an apocalyptic threat to America that is ticking remorselessly in the background while Americans continue their daily routines, oblivious to the danger. For years, China's spy agency has been watching the United States rack up trillions of dollars in debt, waiting for the right moment to weaponize that debt to collapse the American government and install a Communist puppet regime. At the same time, suburban accountant Andrea Gartner has been an outspoken critic of the debt as a leader in the South Carolina state Republican Party. When the United States elects President Earl Murray, he brings Andrea into his government as budget director to solve America's debt problem. But before the nameplate is even installed on her office door, China strikes, engineering an American debt crisis that brings the country to the brink of collapse. Government operations come to a screeching halt. With the American hegemon on its knees, China violently seizes the opportunity to fulfill its territorial ambitions in Taiwan and the South China Sea. Thrust into the rapacious, cutthroat world of American politics and surrounded by crises on all sides, Andrea begins a desperate effort to save the United States. Arrayed against her are cynical politicians and belligerent military brass, some of whom just might be secret Chinese agents. Will Andrea be able to keep the United States alive to fight another day? Or will America drown in a sea of red ink at the hands of the Chinese and see its democratic government replaced by a Chinese Communist puppet regime? American life as we know it is about to be obliterated by a debt bomb. And the only person who can save the country is a suburban accountant.

Author : Franklin Allen
Publisher :
Page : 140 pages
File Size : 15,88 MB
Release : 2015-11-18
Category : Business & Economics
ISBN : 9781680830606

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Provides a review of China's financial system and compares it to other financial systems. It reviews what has worked and what has not within the markets and intermediaries in China, the effects of the recent development of China's financial system on the economy, and a non-standard financial sector operating beyond the markets and banking sectors.