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2024 | OriginalPaper | Chapter

8. The Establishment and Development of Non-bank Financial Institutions

Author : Rixu Lan

Published in: The Financial Development of China

Publisher: Springer Nature Singapore

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Abstract

Non-bank financial institutions are an important component of China’s financial industry. Since the reform and opening up, they have gradually resumed or emerged in the process of financial reform and deepening, in line with the development of the social economy. Now, they have formed a diversified system of non-bank financial institutions, including insurance, securities, trusts, funds, financial leasing, corporate group finance companies, and asset management companies.

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previous chapter Reform and Development of the Banking Industry
next chapter The Establishment and Development of Financial Market
Footnotes
1
Li Yang et al. 60 Years of China’s Finance. China Finance and Economic Press, 2009:178.
 
2
The “327” Treasury Bond Futures Incident refers to a deliberate speculative event that occurred on February 23, 1995. It involved a showdown between China Economic Development Trust and Investment Corporation, which went long, and Morgan Stanley, which went short, regarding the three-year Treasury bonds issued in 1992 and maturing in June 1995, listed on the Shanghai Stock Exchange.
 
3
Li Yang et al. 60 Years of China’s Finance. China Finance and Economic Press, 2009:178.
 
4
Hu Ruyin. The Development and Transformation of China’s Capital Market. Gezhi Publishing House and Shanghai People’s Publishing House, 2008:190.
 
5
Hu Ruyin. The Development and Transformation of China’s Capital Market. Gezhi Publishing House and Shanghai People’s Publishing House,2008:193.
 
6
Li Yang et al. 60 Years of China’s Finance. China Finance and Economics Press,2009:112.
 
7
Li Yang et al. 60 Years of China’s Finance. China. Finance and Economic Press, 2009:115.
 
8
“Several Opinions on Forming and Developing Enterprise Groups by the State Commission for Restructuring the Economic System and the State Planning Commission”. http://​www.​chinalawedu.​com/​falvfagui/​fg21829/​31802.​shtm.
 
9
“Notice of the People’s Bank of China on Issues Related to the Implementation of the ‘Administrative Measures for Enterprise Group Financial Companies’”, http://​www.​fdi.​gov.​cn/​1800000121_​23_​6818707.​html.
 
10
In China, leasing companies are classified into finance leasing companies and financial leasing companies based on differences in regulatory authorities. The former belong to general industrial and commercial enterprises and can be further divided into foreign-funded finance leasing companies and Chinese pilot finance leasing companies, which are managed by the Ministry of Commerce. The latter are managed by the China Banking Regulatory Commission (CBRC) and are considered non-bank financial institutions. In 2017, there were reports of the two types being reorganized and placed under the supervision of the CBRC, but as of June 2019, this had not been realized. Therefore, this section only pertains to financial leasing companies managed by the CBRC.
 
Metadata
Title
The Establishment and Development of Non-bank Financial Institutions
Author
Rixu Lan
Copyright Year
2024
Publisher
Springer Nature Singapore
Book
The Financial Development of China

Print ISBN: 978-981-9782-72-7

Electronic ISBN: 978-981-9782-73-4

Copyright Year: 2024

DOI
https://doi.org/10.1007/978-981-97-8273-4_8

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