CHINESE YUAN (RENMINBI) DERIVATIVE PRODUCTS
by Peter G Zhang (Chief Financial Engineering Advisor and Senior Director of Research & Development Center, Shanghai Futures Exchange, China)
Peter G Zhang obtained his BS and MS in Computer Science in mainland China, before being sent to study in the United States in 1987. He has served as manager, senior associate or vice-president in various financial institutions, including MMS International (Standard & Poor's Group), the Union Bank of Switzerland (New York Branch) and the Chemical Bank (head office) in New York City. After working for the Chase Manhattan Bank (Tokyo Branch) as a vice-president for about three years, he broadened his expertise to financial law at Harvard Law School. He joined the Shanghai Futures Exchange as Chief Financial Engineering Advisor in 2003 and appointed as Senior Director of Research and Development Center of Shanghai Futures Exchange early in 2004 to build and promote the financial derivatives industry in China. An experienced financial expert with many articles and books published both in English and in Chinese, Dr Zhang has been travelling around the world to give seminars and business presentations, particularly to various government organizations, institutions and companies throughout China. His representative works include Exotic Options: A Guide to Second-Generation Options (used by many international financial institutions) and Barings Bankruptcy and Financial Derivatives.
With the CNY revaluation perspectives, hundreds of billions of US dollars have been invested in various types of CNY-related derivative products. As a derivatives specialist with more than ten years' experience in the international financial market and with a working experience in China in the past few years, the author offers a volume on trading and other practical issues of CNY-related derivative products in the offshore marketplace.
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Contents: |
- The Chinese Economy and Financial System
- Foreign Exchange Market and Foreign Exchange Derivatives Market
- The Asian Financial Crisis and Financial Derivatives
- Chinese Yuan (CNY) Derivatives
- Future Development
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| Readership: Undergraduates and graduate students in accounting studies; researchers and practitioners in derivatives finance; exporters and importers; financial risk managers. |
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“I count Peter Zhang as one of the young heroes of the field of finance and this book surely illustrates my view. He brings his extensive knowledge and experience in derivatives and the operation of markets to bear in China where the development of both, while nascent, offers great promise. In his book, he has taken a very pragmatic and thoughtful approach to contending with and managing the risks of transactions in Chinese Yuan, contributing to both the scholarship and practice of finance in the global economy. The Chinese yuan will become a major currency in the global marketplace and this book will help readers get ready.” |
Sharon Brown-Hruska
Acting Chairman and Commissioner
US Commodity Futures Trading Commission |
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“Peter G Zhang's new book on the Chinese yuan is an important and welcome addition to the body of English language works pertaining to the development of Chinese financial markets. It offers a comprehensive overview of financial derivatives in China and as such is much more than an analysis of the issues dealing with the revaluation of the Chinese currency.” |
Leo Melamed
Chairman Emeritus and Senior Policy Advisor
Chicago Mercantile Exchange |
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“The new book on Chinese yuan derivative products by Peter G Zhang is the most comprehensive one written so far on existing derivatives relating to the Chinese currency trading both onshore and offshore. I am sure it will prove to be of great value not only to international trade and financial participants but also for domestic Chinese financial institutions in product innovation as China further integrates into the world economy, both financially and trade-wise.” |
Shengman Zhang,
Managing Director
World Bank |
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“Peter G Zhang's book on the Chinese yuan derivatives is a timely work analyzing the major derivative products trading in the offshore market based on systematic introduction of the Chinese economy and financial system. I highly recommend this book as it is useful for the international community with increasing trade and financial businesses with China and particularly valuable for Chinese financial institutions that began to accelerate derivatives businesses guided by the ‘Interim Rules on Derivatives Business of Financial Institutes.’” |
Li Fuan
Deputy Director General
China Banking Regulatory Commission |
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“I commend Dr Peter G Zhang's highly readable new book on Chinese Yuan derivatives as essential reading for those who want to participate in the likely explosive growth of a sophisticated Chinese financial services industry over the next ten years. For financial practitioners China is the biggest market opportunity in the world today — but please do your homework and ignore this book at your peril!” |
Roy Leighton
ChairmanChairman
European Advisory Board, CALYON SAFutures & Options Association, London |
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“Peter Zhang's new book on Chinese yuan derivative products is set to become essential reading for any participant in world capital markets as China continues its development towards becoming a key financial centre.” |
Tim Cook
Regional Head
Exchange Traded Derivatives — Asia Pacific, UBS |
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“Peter Zhang's new book will be an important asset to international finance in general and to Chinese finance in particular.” |
Sangkee Min
Professor
Seoul National University, South Korea |
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“Comprehensive and practical in its topical coverage, Peter Zhang's new book combines many years of experience working in the field of derivatives and a deep knowledge of the Chinese economic environment to provide a systematic treatment of issues surrounding the Chinese Yuan derivative products. Not only will this book be tremendously helpful for practitioners, it would also greatly benefit scholars and policy makers alike.” |
Jin Li
Assistant Professor
Harvard Business School |
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“Peter G Zhang knows both the international and the domestic Chinese financial market. He proves this once more in his new book, Chinese Yuan (Renminbi) Derivative Products. Drawing on his more than ten years' experience in these markets he presents the international foreign exchange cash and derivative markets in a remarkably pragmatic way, easily leading the reader through the still inscrutable situation of today's Chinese derivative market. All in all, a book worth reading for all those involved in any way with this market; students and pragmatics, businessmen and risk managers, traders and investors.” |
Dr Jörg Franke
Former CEO of Eurex |
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“Peter Zhang's new book provides a sweeping overview of recent developments in China's economy, banking and capital markets. He uses his extensive knowledge of derivatives to review pragmatic issues related to the development of and trading in Chinese Yuan derivatives. Peter's writing style is very readable — and a must read — for any derivatives professional wishing to understand the growing role of the Chinese economy and the development and use of derivatives based on the Chinese Yuan.” |
William J Brodsky
Chairman & Chief Executive Officer
Chicago Board Options Exchange |
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| 404pp |
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Pub. date: Oct 2004 |
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| 404pp |
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Pub. date: Oct 2004 |
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| 404pp |
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Pub. date: Oct 2004 |
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