PRC securitization : legal and rating developments

Kingsley ONG, Stan HO

Research output: Book Chapters | Papers in Conference ProceedingsBook Chapter (Unverified)peer-review


The 1997 Asian financial crisis demonstrated how excessive concentration of credit and liquidity in the banking sector made economies vulnerable to systemic economic collapse. The Asian financial crisis saw many Asian currencies attacked and suffer significant de-valuation. The People’s Republic of China (China or PRC) was relatively insulated from that 1997 Asian financial crisis because of one key reason – its strict exchange controls of the local CNY currency. On the other hand, the 2008 global financial crisis demonstrated the risks of China’s over-reliance on the US dollar as its reserve currency, and the limitations of CNY remaining a controlled currency.
Original languageEnglish
Title of host publicationThe securitisation & structured finance handbook 2018
EditorsLisa PAUL
PublisherAdrian Hornbrook
Number of pages7
ISBN (Print)9780995479159
Publication statusPublished - Sept 2017
Externally publishedYes

Cite this