Putting the yuan in the foreground

Book review | Peter G. Zhang with Thomas Chan

Few topics have attracted as much attention worldwide in recent years as the yuan. These debates have gained added urgency in the light of the financial crisis and the topic of renminbi revaluation is now being actively debated in countries all over the world from Tunisia to the United States. This book explores the ever-changing role of the yuan and the related derivative products. However, it does so from a view that is heavily influenced by the fallout from the financial crisis as well as the in the context of the increasing maturity of the Chinese capital markets. The author has drawn on his experience as a regulator to provide invaluable views, insights and information on yuan derivative products and the development of this market going forward.

Key topics include:

an overview of the current China economy and its capital markets;

an in-depth analysis of the China's banking and foreign exchange systems;

extensive analysis of on-shore and off-shore financial products in China;

an explanation of the needs and reasons for yuan products innovation;

insights into the internationalization of the yuan.

Not only will this book leave its readers with a much clearer idea of the structure of China's capital markets but it also gives insights into the market going forward, leveraged through Peter Zhang's many years of experience as both a senior banker and through his integral role in the key regulatory authority of the banking sector, the China Banking Regulatory Commission.

This book is an excellent reference for anyone who wishes to gain an in-depth understanding of financial products in China, not just in terms of the quantitative elements but also the political context in which they are being developed.

China Daily

(China Daily 05/09/2011 page17)