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China & Japan IB Market Analysis

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Market Analysis

China
Macroeconomic Picture
Key Point
• 6.5% GDP growth in 2009
• $53.4b investment outside China
• WTO promise to open up economy is being implemented although slowly
• Highly competitive market with strong local players
• CS has experience in large overseas IPO
• M&A a key focus area as China flexes its economic muscle
• Reopening of the IPO market will open up a big opportunity
Opportunities
• Population – 1.33 billion
• About 8.3% of 110 million above 65-year-old
• About 4.5% of 60 million middle class/emerging middle class
• Avg. 9.4% real GDP growth rate in 30 years
• 9.1% in 2008 and 6.5% predicted for this year
• 28.8% family saving rate and 48.6 domestic saving rate
• RMB appreciated 15.70% from 21 July 2005 to end of 2008
• 53.4 billion USD Investment outside China
• Seek opportunities to purchase energy and raw materials assets
Threats
• Undeveloped securities market
• Insufficient Openness of financial market
• Risk of inflation
• Imbalance among different areas

Capital Market Performance
• Stock market floating capital of US$8000b ranking 1st among 46 economies
• 2008 debt securities outstanding amount US$2143b
• 107 securities companies, relatively small size
• Low Concentration and Similar Products & Service
• High Competition and Low Efficiency
• FX Restrictions of capital account

Regulations
• Key regulator CSRC, CBRC and PBOC
• Opening and Loosening
– WTO Promise to open
– QFII & QDII
– Modifications to Company Law and Securities Law
– Allow conjunctions of securities, banking, trust and insurance business
– Allow Joint Ventures

Industry segments and products
• M&A and Financial Advisory Service
– RMB90.71b Service Fee charged in 2008
– Will rise in the later part of the year as markets in China improve and confidence rises
• ECM
– Trading Volumes to RMB48,586b in 2008
– RMB88.17b Revenue from agency business
– 176 IPO issues in domestic market
– RMB2061.97b main...

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China & Japan IB Market Analysis. Anti Essays. Retrieved December 12, 2018, from the World Wide Web: http://cassandralynndesignllc.com/free-essays/China-Japan-Ib-Market-Analysis-235868.html