The Great Leapforward of China's Stock Market
In 2007, China's capital market made a historical leap forward. The total amount of capital generated by IPOs in China surpassed that of New York, London, and Hong Kong, and was the highest globally, a position that will more than likely hold through the next year. The total market value of China's capital market came in the third globally and is likely to overtake Japan to stand in the top two next year.
Juicy China Capital Market Re-open
On the 28th of December, the last trading day of 2007, the China Securities Regulatory Commission (CSRC) announced that it has updated the Rules on Foreign-Invested Securities Companies (FISC). This achievement made as a result of the Sino-US Strategic Economic Dialogue III (SEDIII), implies that regulators will once again allow foreign investment banks to take part in the profitable securities sector in the coming year.
A Lightning Rod for Anger of A-share Investors
Investors in PetroChina have expressed their anger at the company's underwriters, UBS Securities and the United Bank of Switzerland (UBS), feeling like they were lured into buying shares at an elevated price that has been dropping ever since
The SOE Market Leverage
China's ever-expanding State Owned Enterprises (SOE) are playing a much more important role in Chinese stock market these days and the government now intends to use them in their efforts to adjust domestic stock indexes.
Hiring from China
China's financial institutions have been generating global investment power and are now looking to seize the opportunities created by the US/European credit crisis, especially in hiring the world's best money talent.
Allowing incorporated foreign banks to issue RMB-denominated stocks and bonds will provid foreign companies with new opportunities for finance and expansion of sales in China.
Of 1 trillion profits made by state-owned enterprises in 2007, 17 billion will be paid to their biggest share holder: the state. But SOEs continue to be the touble of over-investment.
Buck the Trend and Keep Trying
The American sub-prime crisis is sweeping the entire planet, but it doesn't seem to have any effect on the progress of China's efforts at asset securitization, which apparently is learning from Wall Street the techniques of diversifying risks of its financial system.
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