Along with the gospel of globalization that transforms the world financial markets by desegmentation, marketisation and transnationalisation, an age of financial giants is forthcoming in most of the economies around the globe, either emerging or mature. The emergence of financial conglomerates in different countries can be interpreted by the similar considerations. However, similar reasons do not necessarily lead to the similar appearance of financial conglomerates. The structures of financial conglomerates and the corresponding regulatory organizations differ from country to country and even from one conglomerate to another.In line with its economic framework and developmental stage, China also has its own characteristic financial conglomerates, although they are now at their initiative step and the number is quite small comparing to the huge size of financial market. Ironically, according to the institutionally specialized financial legislations, these conglomerates are rather ropedancers performing on the verge of quot;legitimate cliffquot; or even between the gap of lawful and unlawful, since banks, securities firms and insurance companies are separately capitalized and strictly confined to respective sectors.Lack of specific regulation on financial conglomerates in China does not testify the legislative vacuum in this respect, since all financial conglomerates are comprised of individual enterprises belonging to different financial sectors. However, relevant amendments of financial legislations and appropriate adjustments in regulatory infrastructure seem necessary and inevitable. This article attempts to explore the proper measures and tactics concerning financial conglomerates that may be undertaken by Chinese regulators and supervisors on the basis of present presence of financial conglomerates, current legislative structures and instructive international experiences.

First proposed in 1994, the Twin Peaks model of financial system regulation employs two specialist peak regulators: one charged with the maintenance of financial system stability, and the other with market conduct and consumer protection. This volume, with contributions from over thirty scholars and senior regulators, provides an in-depth analysis of the similarities and differences in the Twin Peaks regimes that have been adopted around the world. Chapters examine the strengths and weaknesses of the model, provide lessons from Australia (the first to adopt the model), and offer a comparative look at the potential suitability of the model in leading non-Twin Peaks jurisdictions. A key resource for central bankers, public policy analysts, lawyers, economists, politicians, academics and students, this work provides readers with a comprehensive understanding of the Twin Peaks model, and a roadmap for countries considering its adoption.

Examines how regulators ensure that the growing number of conglomerates are regulated sufficiently strongly to eradicate systemic risks and conflict of interest abuses, yet are flexible enough to allow the benefits of conglomeration to be secured. It looks particularly at the Chinese wall.

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"The 19th century belonged to England, the 20th century belonged to the US and the 21st century belongs to China. Invest accordingly." Warren Buffet This comprehensive resource presents the views of China's most highly respected economists, bankers, and policy makers--along with opinions from Western authorities--on the current state of banking and finance in China. Tracing the history of China's banking and finance system and looking toward its future, the book offers valuable insight for financial service providers, bankers, private equity and hedge fund managers, and equity research and credit analysts. Contributors to the book includes: Jamie Dimon — Chairman & CEO, JPMorgan Chase Bank Guo Shuqing — Chairman, China Construction Bank Paul Volcker — Former Chairman, U.S. Federal Reserve Stephen S. Roach — Chairman, Morgan Stanley Asia Wang Dongming — Chairman, CITIC Securities Co., Ltd; and many more!

"This is a very timely book. With the recapitalization and reform of China's banking sector now well under way, the banks are on the brink of a new era of growth and expansion. This work is the definitive reference on the banking sector in China, and is an essential tool for anyone seeking to understand the dynamics of financial intermediation on the Mainland. It sets out the facts, free of the judgment calls that so often cloud the true picture of the health of China's banking system." --Dr. David K.P. Li, Chairman and Chief Executive, The Bank of East Asia, Limited "As China continues its impressive pace of economic growth, the rest of the world is constantly reassessing the opportunities and challenges it presents. This book is the first official report on the status of China's financial services industry and financial markets. For the first time, the international community gets access to the same information that the Chinese government uses in making key policies. Such unique insights make this book an essential read for business leaders, investors, policy makers, scholars, and anyone who is interested in understanding China's profound impact on businesses and consumers globally." --Maurice R. Greenberg, Chairman & CEO, C.V. Starr & Co. "This is the first book that introduces all aspects of the Chinese banking and financial markets to international audiences. From its developmental history to its contemporary challenges, China's banking and finance markets are presented, explored and analyzed with great detail and in great depth. Both the richness of the data and the scholarly strength of the methodology are a milestone. China's increasing participation in global financial markets makes this book a must read for all financial professionals worldwide." --Lefei Liu, Chief Investment Officer, ChinaLife Insurance

Spanish excerpts from World Bank Technical Paper No. 280 (English), Stock no. 13206.