1.1. Different types of fundraising in China’s stock market in 2011 4

1.2. IPO price distribution of different stock markets in 2011 (RMB Yuan) 4

1.3. The percentage of listed companies whose prices fell below their IPO prices on the first day’s trading 5

1.4. The performance of asset management products developed by securities firms in 2011 10

1.5. Total registered capital of direct investment subsidiaries established by securities firms from 2007 to 2011 (RMB 100 million Yuan) 11

1.6. Net profits of securities firms from 2002 to 2007 (RMB billion Yuan) 14

1.7. The annual fundraising of China’s stock markets during different periods (RMB billion) 18

1.8. The background of independent board directors of listed companies 22

1.9. B-share fundraising since 1992 (RMB 100 million Yuan) 24

1.10. H-share capital raised from 1993 to 2009 (RMB 100 million Yuan) 25

1.11. Annual IPOs from 2009 to 2012 30

1.12. IPO fundraising on GEM from 2009 to 2012 31

1.13. The book returns of PEs’ exit through GEM IPO 32

1.14. The ecological chain or pyramid in China’s stock market 41

2.1. The maturities of bonds issued in 2011 48

2.2. Ratio of corporate bonds outstanding to bank loans outstanding in US, Japan and China (by 2010) 58

2.3. Number of enterprise bond issuers from 2006 to 2011 60

2.4. Enterprise bonds issued from 2006 to 2012 (RMB billion Yuan) 61

3.1. Annual trading values from 2000 to 2011 (RMB trillion Yuan) 77

3.2. Market shares of futures markets in trading volume in 2011 80

3.3. Market shares of futures markets in trading value in 2011 81

3.4. China’s financial supervision system 98

4.1. Distribution of different LP capital sizes 113

4.2. LPs’ preference in selecting different types of PE funds 114

4.3. The top four Chinese industries receiving PE investments from 2007 to 2011 117

4.4. The exchanges distribution of China’s IPOs in 2011 122

4.5. IPO financing volume of Chinese firms in different stock exchanges in 2011 123

4.6. The number of RMB funds and US$ funds in different years 130

4.7. The fund size in RMB and US$ in different years (US$ billion) 130

4.8. CIC’s investments in different regions (by 3 December 2011) 133

4.9. CIC’s diversified investments in different sectors (by 31 December 2011) 134

4.10. CIC’s performance from 2008 to 2011 134

5.1. China funds: public and private funds 143

5.2. The total assets of funds and open-end funds 145

5.3. The development of fund management companies and joint venture fund management companies 145

5.4. The number of unique stocks in different years 149

5.5. Some forms of tunneling in China’s fund industry 150

5.6. The average approval days for funds from 2000 to 2006 153

5.7. Investment banking business of securities firms in 2011 158

5.8. QFII quota in total in different years 159

5.9. The number of QFIIs in China’s capital markets 160

6.1. Village banks developed by March 2013 175

6.2. Village banks established by different originators by 2011 176

6.3. Village banks established by the Big Four 176

6.4. Revenue structure of intermediary business in 2011 179

6.5. The total assets of China’s Big Four in 2012 (RNB trillion Yuan) 180

6.6. The Big Four’s net profits in 2012 (RMB billion Yuan) 181

6.7. The Big Four’s increases in net profits in 2011 and 2012 181

6.8. The top ten banks issuing the most types of wealth management products in 2012 182

6.9. The increases of NPLs for the five listed banks in 2012 183

6.10. Large banks’ overdue loans in 2012 184

6.11. China’s shadow banking activities by the end of 2010 ($ billion) 188

6.12. Guarantors’ loan size in 2010 (RMB Yuan) 194

7.1. The M&A deals and finished M&A deals from 2007 to 2012 205

7.2. The turnover of disclosed M&A deals and the turnover of finished M&A deals from 2007 to 2012 (US$ billion) 205

7.3. The top five industries of M&A in 2012 207

7.4. The top five M&A industries in turnover in 2012 207

7.5. Foreign investors’ M&A turnover in total in mainland China from 2006 to 2012 (US$ million) 217

7.6. Foreign investors’ M&A deals in mainland China from 2006 to 2012 217

8.1. Structure of VAM 226

9.1. Overseas fundraising of Chinese firms from 1993 to 1998 ($ billion) 241

9.2. IPOs of Chinese firms in overseas markets from 2002 to 2011 242

9.3. Annual fundraising of Chinese firms from overseas markets from 2002 to 2011 (RMB billion Yuan) 242

9.4. Chinese firms’ IPOs distribution in different markets in 2011 244

9.5. Market value of H-share from 2001 to 2011 ($ billion) 253

9.6. Market shares of H-share in total market value of HKEX in 2011 253

1.1. Market shares of the top five securities firms in 2011 6

1.2. Top four industries with high market value in stock markets 7

1.3. The top five underwriters’ underwriting business value in 2011 (RMB billion Yuan) 8

1.4. The top five underwriters in underwriting deals in 2011 9

1.5. Performance of securities firms in 2011 9

1.6. Direct investment subsidiaries established by securities firms from 2007 to 2011 10

1.7. The deals and amounts invested from 2007 to 2011 11

1.8. The performance of direct investment companies 12

1.9. The fundraised amounts of China’s stock markets from 1984 to 2011 (RMB 100 million) 17

1.10. The milestones of establishing China’s GEM market 29

1.11. The Third Board stocks and companies from 2001 to 2005 34

2.1. The structure of the bond market in 2012 46

2.2. Different bonds issued in 2012 47

2.3. Different maturities of bonds issued in 2012 47

2.4. Bonds issuance in 2011 (RMB billion Yuan) 48

2.5. The allocations of local government bonds of RMB 200 billion issued in 2009 54

2.6. China’s money supply growth rates from 1984 to 1986 (%) 56

2.7. Distribution of ways of financing micro-enterprises 62

3.1. SHFE’s futures products 78

3.2. DCE’s futures products 79

3.3. ZCE’s futures products 79

3.4. Global ranking of agricultural commodity futures by trading volume 81

3.5. Global ranking of metals futures products by trading volume 82

3.6. The matrix of price correlation coefficients between futures products (I) 83

3.7. The matrix of price correlation coefficients between futures products (II) 84

3.8. The matrix of price correlation coefficients between futures products (III) 85

3.9. Price correlation coefficients between copper, zinc and aluminum 86

3.10. Price correlation coefficients between soybean oil, rapeseed oil and palm olein 86

3.11. Some futures products’ price correlation coefficients between domestic futures markets and domestic spot markets in 2011 87

4.1. Foreign exit cases and value from 2009 to 2011 107

4.2. Comparing foreign PEs’ average book returns in China with Chinese PE industry from 2009 to 2011 (exit through IPO in Chinese main board) 107

4.3. Insurance companies’ capital size for PE investment by the end of 2010 110

4.4. The top ten PE investments in value in 2011 119

4.5. The PEs with large floating loss for investing in private placement in 2011 120

4.6. The top ten PE returns for exit through IPO in American stock markets from September 2010 to May 2011 124

4.7. The PE returns of different industries for IPO in American stock markets from September 2010 to May 2011 125

4.8. Average months needed for IPO by companies in different industries in American stock markets from September 2010 to May 2011 125

4.9. Chinese PEs’ IRR by year deal struck 127

4.10. The top ten book returns for PEs exiting through IPO in China’s main board since 2009 128

4.11. CIC main investments since 2007 132

4.12. CHIC’s investment in China’s large banks (by 31 December 2011) 133

5.1. Fund manager resignations each year from 2007 to 2011 147

5.2. The categories of securities firms 156

5.3. Classification of securities firms in 2011 157

6.1. Capital adequacy ratios (CAR) of the Big Four by 2003 169

6.2. Capital raised by listed banks in A-share market from 2002 to 2010 170

6.3. Capital raised by listed banks in H-share market from 2005 to 2010 171

6.4. Bank of China’s revenues from domestic market and overseas markets 172

6.5. Credit card issuance by team one banks in 2012 (millions) 172

6.6. Credit card issuance by team two banks in 2012 (millions) 173

6.7. Credit card issuance by team three banks in 2012 (millions) 173

6.8. Financial performance of RCCs from 2006 to 2012 174

6.9. The Big Four’s profit pattern in 2012 181

6.10. The Big Four’s NPLs in 2012 182

6.11. Some big banks’ private banking business in 2012 197

7.1. The finished M&A deals in 2012 206

9.1. The top ten Chinese IPOs in overseas markets in 2011 243

9.2. Chinese firms’ IPOs in both domestic and overseas markets in 2011 244

9.3. Chinese companies delisting from American stock markets in 2012 247

9.4. QFII performance in China’s A-share market from 2004 to 2012 249