Since accession to the WTO, the liberalization of the Chinese planned economy to a market economy has evolved piecemeal. The risk management objective for the transition has been proceduralized in the form of regulation. The objective serves to benefit the infrastructure of the market economy....

This paper argues that the Central Counterparty (CCP) clearing system will be able to provide an effective platform in dealing with counterparty risk and insolvency risk in OTC derivative transactions. First, this paper assesses how authorized institutions can enter an OTC derivative contract in...

The legal structure of Chinese Banking securitsation has been evolving cautiously. Since 1997 until recntly, the Bank of China (BOC) had the monopoly in selling and purchasing forward contracts in China; other Chinese banks were excluded from entering into forward contracts. However, the People's...