Book Review: China's role in world finance

As China becomes a global financial hub, its banking institutions and sovereign wealth funds are playing an increasingly active role in world economic and political affairs.

Given today's global financial crisis, this timely book offers a comprehensive view on the role that China's emerging financial markets will play in the world of business in the 21st century.

Published by John Wiley & Sons (Asia) Pte Ltd, China's Emerging Financial Markets: Challenges and Global Impact, is a collection of the viewpoints of influential Western and Eastern financial leaders.

Those leaders whose views were sought include Zhou Xiaochuan, governor of the People's Bank of China (the country's central bank), Guo Shuqing, chairman of China Construction Bank, and Gao Xiqing, president of China Investment Corp.

Also interviewed for the book were Jamie Dimon, chairman and CEO of JPMorgan Chase & Co, and Stephen Roach, chairman of Morgan Stanley Asia.

These industry heavyweights offer varied perspectives on China's banking institutions, capital markets and insurance industries.

Credit markets, exchange rate policies and government intervention decisions also are addressed.

The chapters in this book are organized into seven main sections on macro issues, banking, capital markets, insurance, monetary policy and supporting services.

The collection of diverse views contained in one volume will make a lively companion to other books laden with charts and numbers.

This new book tells the real story behind the numbers.

(China Daily 07/13/2009 page5)