Capital Markets

Chinese Capital Markets Research is published four times a year, in Japanese only. An English translation of the Table of Contents is provided here with links, when available, to related articles in English published by Nomura Institute of Capital Markets Research (NICMR). For other materials in English, please contact the author(s) or NICMR directly.

Contents

Special Feature

Local Governments’ Procurement of Funds for Urbanization Projects: Building a Diverse Funding System

ZHANG Chenghui, Research Institute of Finance, Development Research Center

Securing Fiscal Resources for Urbanization: Challenges and Solutions

LIU Shangxi, Research Institute of Fiscal Science, Ministry of Finance

Financial and Capital Market Reform

Outlook for China’s Capital Markets in 2014

LI Yongsen, Finance and Securities Institute, Renmin University

Liberalization of the Exchange Rate, Interest Rates, and Capital Movements in Preparation for China’s Financial Opening—The Effectiveness of Monetary Policy will also be Enhanced

C-H Kwan, Nomura Institute of Capital Markets Research

Chinese Government Publishes New Article 9 Opinion on Capital Market Development

Eiichi Sekine, Nomura Institute of Capital Markets Research

Macro Finance

China’s Real Estate Market Entering a Phase of Adjustment: Sound of a Collapsing Bubble

C-H Kwan, Nomura Institute of Capital Markets Research

International Finance

US-China Financial Cooperation: Progress, Characteristics, Challenges, and Strategies

LIU Dongmin & HE Fan, Institute of World Economy and Politics, Chinese Academy of Social Sciences

HOT TOPIC

Shanghai-Hong Kong Stock Connect to Promote Yuan-Denominated Securities Investment in Both Directions

Eiichi SEKINE, Nomura Institute of Capital Markets Research

Related article in English from Nomura Journal of Capital Markets Research, Autumn 2014 issue