Section One International Financial EnvironmentChapter One Balance of Payments 3
1．Balance of Payments 3
2．International Investment Position 7
3．The Significance of BOP and IIP 14
Chapter Two Foreign Exchange and Exchange Rate 17
1．Foreign Exchange and Exchange Rate 17
2．The Determination of Exchange Rate 20
3．The Macro-Impact of Exchange Rate Changes 22
4．Case—The Lost Decade 23
Chapter Three International Monetary System 27
1．Gold Standard 28
3．Jamaica System 33
Chapter Four International Financial Market 41
2．Eurocurrency Market 42
3．Financial Globalization 44
4．International Financial Centers 46
5．Financial Institutions and Participants 48
Chapter Five Financial Crisis 54
1．Latin America Debt Crisis 55
2．Asian Financial Crisis 57
3．USA Sub-Prime Loan Crisis 67
4．Monitoring Risk Factors 72
Section Two International Financing PracticeChapter Six International Debt Financing—Bank Loan 79
1．Basic Concept 79
2．Financing Through International Loans 82
Chapter Seven International Debt Financing—Bond Financing 104
1．Introduction 104
2．Procedures of Issuing Bonds 109
3．Convertible Bonds 114
4．History of Chinese Organizations Issuing Bonds Abroad 117
5．Convertible Bond Case Analysis 119
Chapter Eight Equity Financing 124
1．Instruction 124
2．Overseas Listing 129
3．Models of Listing 134
4．Where to List? 147
Chapter Nine Venture Capital and Private Equity 157
1．Concept 157
2．Development of the Industry 160
3．Dealing with VC 164
Chapter Ten Leasing 169
1．Introduction 169
2．Advantages and Disadvantages of Leasing to Lessee 173
3．Leasing Innovation 176
4．Development of Leasing Industry in China 177
5．Industry Example—Airlines 179
6．Leasing Organization Example—ICBC 180
Chapter Eleven Asset-Backed Securitization 184
1．Introduction 184
2．Operating of ABS 186
3．ABS Advantages to Originators 191
4．Case Study 192
Chapter Twelve Project Financing 199
1．Introduction 199
2．Infrastructure Projects 201
3．Benefit of PPP Model 202
4．PPP Project Participants 203
5．Public-Private Partnership Models 206
6．The Process of PPP Project 207
7．Contracting 208
8．Is PPP Really a Good Choice? 211
9．Cases 212
Chapter Thirteen International Trade Financing 224
1．Short-term International Trade Financing 225
2．Long-term International Trade Financing 231
3．Export Credit Insurance 233
4．Export Credit Agencies 236
Chapter Fourteen Exchange Rate Risk Management 245
1．The History of RMB Exchange Rate Regime 245
2．The Convertibility and Internationalization of RMB 249
3．Exchange Rate Risk Management 253
References 265