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Peoples Republic Of China Financial Sector Assessment Program
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Book Synopsis Financial Sector Assessment by : World Bank
Download or read book Financial Sector Assessment written by World Bank and published by World Bank Publications. This book was released on 2005-09-29 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the financial crises of the late 1990s, there was a surge of interest in the systematic assessment of financial sectors, with a view to identifying vulnerabilities and evaluating the sector's developmental needs. Consequently, there has been an increased demand from financial sector authorities in many countries for information on key issues and sound practices in the assessment of financial systems and the appropriate design of policy responses. In response, Financial Sector Assessmsnet presents a general analytical framework and broad guidance on approaches, methodologies and key techniques for assessing the stability and development needs of financial systems. It synthesizes current global sound practices in financial sector assessment.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Regulation and Supervision of Secondary Markets by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Regulation and Supervision of Secondary Markets written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong SAR has, over the recent years, become an equity trading hub catering to domestic and foreign investors, including increasingly to investors from Mainland China. Most trading is conducted on markets operated by recognized exchange companies, with limited domestic trading happening via automated trading services (ATS) providers in the form of alternative liquidity pools. The introduction of Stock Connect in 2014 enabled investors from Hong Kong (including domestic and foreign) to directly invest in the Shanghai and later Shenzhen markets and investors from the Mainland to directly access the Hong Kong market. Trading via Stock Connect has seen a steady rise over the last few years, increasing the linkages between Hong Kong SAR and the Mainland. Mainland companies currently account for over 60 per cent of market capitalization of the equities traded on the Stock Exchange of Hong Kong (SEHK).
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The institutional framework for Macroprudential Policies (MaPP) in the Hong Kong Special Administrative Region (the Hong Kong SAR) is well established. According to the Basic Law, the Government of the Hong Kong SAR shall on its own formulate monetary and financial policies. The Financial Secretary (FS) and the Secretary for Financial Services and the Treasury (SFST) are responsible for policies for maintaining the stability and integrity of the financial system of the Hong Kong SAR. The Hong Kong SAR has a sector-based regulatory structure and the responsibilities and tools for safeguarding financial stability are spread across the Financial Services and the Treasury Bureau (FSTB) and three regulators (namely, the Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC) and Insurance Authority (IA)). There are good and well-structured interagency coordination and consultation mechanisms, through the Council of Financial Regulators (CFR) and the Financial Stability Committee (FSC), chaired by the FS and the SFST, respectively. Broad coordination between the CFR and government agencies on taxation and housing supply-side policies has also worked well. MaPP and risk assessment are communicated to the public openly and frequently through speeches, press releases and regular publications, including the Half-Yearly Monetary and Financial Stability Report of the HKMA and the Half-yearly Review Report of the Global and Local Securities Markets of the SFC.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector and Systemic Risk Analysis by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector and Systemic Risk Analysis written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong SAR (HKSAR) is a small and open economy, and a major international financial center with extensive linkages to Mainland China. Over the past two years, Hong Kong SAR’s economy and financial sector were adversely impacted by domestic social unrest, US-China tensions, and the global COVID-19 pandemic, resulting in an unprecedented two consecutive years of negative economic growth.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Implications of Fintech for the Regulation and Supervision of the Financial Sector by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Implications of Fintech for the Regulation and Supervision of the Financial Sector written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: he Hong Kong Special Administrative Region (HKSAR) is among the world’s major fintech hubs, well positioned to develop fintech initiatives from its traditional strengths in financial services. Key factors enabling the HKSAR to emerge as a fintech hub include its presence as an international financial center, its free-flowing talent and capital, a highly developed information and technology communication (ITC) infrastructure, and its most unique trait, a geographical and strategic advantage by proximity to the market in Mainland China.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Investment Funds Sector Liquidity Stress Testing by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Investment Funds Sector Liquidity Stress Testing written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Hong Kong Special Administrative Regime (HKSAR) is home to a fast-growing and highly international investment fund industry. The public investment fund industry authorized in HKSAR has grown rapidly from US$628 billion in 2008 to US$1.6 trillion in net asset value (NAV) in 2020. The locally domiciled sector grew from US$121 billion in early 2015 to almost US$155 billion in 2020. Open-end funds authorized for sale in HKSAR are substantially invested in foreign assets and significantly invested in by non-HKSAR residents and are therefore reactive to international liquidity and price conditions. Locally domiciled funds invest their portfolios in both local and overseas assets markets, while they are overwhelmingly funded by HKSAR investors.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong SAR has significantly strengthened its crisis management arrangements through a thorough update of the framework for resolution of financial institutions, as recommended by the 2014 Financial Sector Assessment Program. The 2017 Financial Institutions (Resolution) Ordinance (FIRO) creates a resolution regime that is clear, comprehensive in scope, and closely aligned with the Financial Stability Board (FSB) Key Attributes of Effective Resolution Regimes for Financial Institutions. Some aspects of the FIRO, such as the cross-sectoral scope of the regime, are particularly strong. To implement the regime, the Hong Kong Monetary Authority (HKMA) 2 has established a Resolution Office (RO) with clear operational separation from banking supervision.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Banking Sector: Supervision and Regulation by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Banking Sector: Supervision and Regulation written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking supervision and regulation by the Hong Kong Monetary Authority (HKMA) remain strong. This assessment confirms the 2014 Basel Core Principles assessment that the HKMA achieves a high level of compliance with the BCPs. The Basel III framework (and related guidance) and domestic and cross-border cooperation arrangements are firmly in place. The HKMA actively contributes to the development and implementation of relevant international standards. Updating their risk based supervisory approach helped the HKMA optimize supervisory resources. The HKMA’s highly experienced supervisory staff is a key driver to achieving one of the most sophisticated levels of supervision and regulation observed in Asia and beyond.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides an update and assessment of developments in insurance supervision since 2014. It is part of the 2020 Financial Sector Assessment Program (FSAP) for the Hong Kong SAR (HKSAR) and draws on discussions there from September 10 to 24, 2019. It has not been updated for the impact of recent global events associated with the COVID-19 pandemic. The insurance sector is large, especially long-term (life) insurance, highly international and has been growing steadily. The long-term market is amongst the world’s largest, particularly by penetration (premiums to GDP). Growth has been supported by the popularity of savings products, including sales of policies to Mainland Chinese visitors (MCVs), although these have declined from their peak. The general insurance sector, though comprising many more companies, is relatively small and spread over many lines. The authorities have identified scope for growth in protection policies as well as opportunities for captive and specialty lines related to China’s Belt and Road Initiative. Tax incentives have supported the recent successful introduction of new annuity and health insurance products. Although foreign-owned companies account for a large share of business, the HKSAR is the home of three major domestic groups operating internationally.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1475502966 Total Pages :106 pages Book Rating :4.4/5 (755 download)
Book Synopsis People’s Republic of China by : International Monetary Fund
Download or read book People’s Republic of China written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-04-05 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed assessment report on the observance of China’s compliance of Basel Core Principles for effective banking supervision is presented. Regulation and supervision of China’s banking system has made impressive progress in the past few years, led by an activist, forward-looking regulator, the China Banking Regulatory Commission, with a clear safety and soundness mandate that has been supported by banks and by the State. The macroeconomic environment is characterized by rapid growth, with concerns about overheating and asset price overvaluation.
Book Synopsis People’s Republic of China by : International Monetary Fund. Legal Dept.
Download or read book People’s Republic of China written by International Monetary Fund. Legal Dept. and published by International Monetary Fund. This book was released on 2019-06-21 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a summary of the anti-money laundering/combating the financing of terrorism (AML/CFT) measures in place in the People’s Republic of China (China)1 as at the date of the onsite visit (July 9–27, 2018). It analyzes the level of compliance with the Financial Action Task Force (FATF) 40 Recommendations and the level of effectiveness of China’s AML/CFT system and provides recommendations on how the system could be strengthened. China has undertaken a number of initiatives since 2002 that have contributed positively to its understanding of ML/TF risk, although some important gaps remain. Its framework for domestic AML/CFT cooperation and coordination is well established.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1484335155 Total Pages :98 pages Book Rating :4.4/5 (843 download)
Book Synopsis People’s Republic of China by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book People’s Republic of China written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2017-12-26 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an assessment of the level of observance of the Insurance Core Principles (ICPs) in China. Overall, the Chinese regulatory system is assessed to have a good level of compliance with the ICPs. The regulatory framework includes, in addition to the solvency standards, extensive requirements on corporate governance, risk management and internal controls as well as on reinsurance, disclosure and conduct of business. All these requirements are applied appropriately to the significant number of large insurance groups, which together account for the bulk of premium income. However, there is scope for further development of crisis preparedness and market conduct work.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :1484314727 Total Pages :77 pages Book Rating :4.4/5 (843 download)
Book Synopsis People's Republic of China by : International Monetary Fund. Asia and Pacific Dept
Download or read book People's Republic of China written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2017-08-15 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper examines the drivers and prospects for high levels of savings in China. China has one of the highest levels of national savings in the world, which is at the heart of its external and internal imbalances. High and rising household savings have mainly resulted from demographic changes as a result of the one-child policy and the breakdown of the social safety net during the transition from a planned to a market economy. Demographic changes will put downward pressure on national savings. Policy efforts to strengthen the social safety net and reduce income inequality are also needed to reduce savings further and faster and to boost consumption.
Book Synopsis People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Detailed Assessment of Observance-HKFE Clearing Corporation Limited (HKCC) Principles for Financial Market Infrastructures by : International Monetary
Download or read book People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Detailed Assessment of Observance-HKFE Clearing Corporation Limited (HKCC) Principles for Financial Market Infrastructures written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-15 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: The HKFE Clearing Corporation Limited (HKCC) observes the CPSS/IOSCO Principles for Financial Market Infrastructures (PFMI). It has a sound, coherent and transparent legal basis. As an integral part of the Hong Kong Exchanges and Clearing Limited (HKEX Group), the HKCC has a comprehensive and adequate risk management framework to address financial, business, and operational risks. Participant assets as well as HKCC’s collaterals are safely kept in several banks and regulated central securities depositories. The credit and liquidity risks are minimized by having a robust risk management framework, including rigorous stress testing methodology and access to qualifying liquid resources. Furthermore, the HKCC has clear rules and procedures to handle and manage a participant’s default procedures. Moreover, the HKCC has established risk management framework to handle operational risk, including cyber risk, and business continuity management that addresses events posing significant risk of operational disruption.
Book Synopsis Resurging Asian Giants by : Klaus Gerhaeusser
Download or read book Resurging Asian Giants written by Klaus Gerhaeusser and published by Asian Development Bank. This book was released on 2010-07-01 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economies of the People's Republic of China and India have seen dramatic growth in recent years. As their respective successes continue to reshape the world's economic landscape, noted Chinese and Indian scholars have studied the two countries' development paths, in particular their rich and diverse experiences in such areas as education, information technology, local entrepreneurship, capital markets, macroeconomic management, foreign direct investment, and state-owned enterprise reforms. Drawing on these studies, ADB has produced a timely collection of lessons learned that serves as a valuable refresher on the challenges and opportunities ahead for developing economies, especially those in Asia and the Pacific.
Book Synopsis People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region by : International Monetary
Download or read book People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-08 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main macro-financial risks relate to extensive linkages to Mainland China, stretched real estate valuations, and exposure to shifts in global market and domestic risk sentiment, compounded by escalating U.S.-China tensions. Stress tests show that the financial system is resilient to severe macro-financial shocks, but there are pockets of vulnerabilities in foreign bank branches, investment funds, households, and nonfinancial corporates. Hong Kong SAR’s financial sector is also exposed to physical and transition risks from climate change.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1463924542 Total Pages :126 pages Book Rating :4.4/5 (639 download)
Book Synopsis People's Republic of China by : International Monetary Fund
Download or read book People's Republic of China written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-11-14 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report discusses the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms in China have progressed well in moving toward a more commercially oriented financial system. Despite success and rapid growth, China’s financial sector is confronting several near-term risks, structural challenges, and policy-induced distortions. A properly composed and timely implemented set of reforms would help address these challenges. A framework to resolve weak financial institutions on a timely basis is also needed.
