重庆建设西部金融中心：现实基础、困境和发展空间

本文围绕重庆建设西部金融中心的新使命,考察了重庆建设西部金融中心的现实经济金融基础,剖析了西部金融中心建设的现实困境,并从全国金融中心金融功能分工与错位发展视角分析了西部金融中心的发展空间。研究发现,重庆建设西部金融中心具有较为坚实的经济金融基础,但存在总部经济和首店经济基础薄弱、金融高端人才要素吸附能力不足、辐射西部和全国的资本市场缺失、成渝共建西部金融中心的体制机制不顺等困境。基于在全国金融中心的分工格局,西部金融中心的建设与发展空间在于：建设面向川渝地区的间接金融服务体系;建设辐射西部的数据要素与产权交易中心、金融科技创新中心;建设辐射西部的绿色金融、科创金融与普惠金融中心;建设辐射一带一路的跨境贸易结算与投融资中心。     

着力提升金融集聚力辐射力

<正>西部金融中心建设要从提升金融资源集聚能力、提升金融功能辐射能力、加强成渝两地协同共建等方面着手为推动成渝地区加快双城经济圈建设、打造高质量发展重要增长极和新的动力源,《成渝共建西部金融中心规划》于2021年12月正式出台,历时多年的西部金融中心建设终于进入实质性操作阶段。与《成渝地区双城经济圈建设规划纲要》相衔接,该规划明确提出了成渝共建西部金融中心的总体要求、主要任务和保障措施,具有重要的指导意义。     

成渝西部金融中心的六大看点

<正>2021年12月24日,人民银行、国家发展改革委等六部门联合川渝政府印发了《成渝共建西部金融中心规划》(下称《规划》),提出到2025年初步建成西部金融中心、2035年西部金融中心地位更加巩固的战略目标。《规划》指出,要将成渝建设成为立足西部,面向东亚和东南亚、南亚,服务共建"一带一路"国家和地区的西部金融中心,完善"科创金融、普惠金融、绿色金融、消费金融、供应链金融"五大金融服务体系。     

简讯

《成渝共建西部金融中心规划》印发近日,中国人民银行会同发展改革委等部门印发《成渝共建西部金融中心规划》,明确了共建西部金融中心的"六体系一基础"政策框架,从金融机构组织体系、金融市场体系、金融服务体系等7个方面提出28项具体政策措施。央行发布《金融大数据平台总体技术要求》     

重庆市建设西部金融中心的机遇、挑战及路径研究

当前,如何基于自身优势建设西部金融中心是重庆市面临的重要挑战。在政策支持下,重庆市金融行业正迎来新的发展机遇,西部地区也亟需打造具有特色的金融中心来带动区域经济发展。文章从金融业发展势头、体系构建、创新水平、对外开放水平、金融支持实体经济发展力度、金融风险防范和控制能力等方面总结了重庆市金融业发展现状,对重庆市建设西部金融中心面临的机遇和挑战进行了深度探讨,最后提出了重庆市建设西部金融中心的三条路径,即打造金融科技中心、绿色金融中心和普惠金融中心,以期为重庆市金融发展提供参考。     

全力推进西部金融中心建设

<正>成渝共建西部金融中心,对于打造成渝双城经济圈成为高质量发展重要增长极和新的动力源有重大助推作用,是建设成渝地区双城经济圈的应有之义2022年,是成渝共建西部金融中心的起步之年,也是成渝地区双城经济圈建设从夯基垒台迈向整体成势的关键一年。金融是实体经济的血脉。加快西部金融中心建设,全面提升金融服务效率和水平,聚焦高质量发展,促进产业转型升级,是推动成渝地区双城经济圈建设的关键。近年来,四川银保监局坚决贯彻落实党中央、国务院、银保监会和省委省政府决策部署,强化监管引领,多措并举发挥银行业保险业金融支撑作用,加快共建西部金融中心,助推实现成渝双城经济圈建设成效起势、银行业保险业高质量发展的双重目标。     

为成渝共建西部金融中心贡献成都力量

<正>成渝共建西部金融中心，是深入贯彻落实习近平总书记重要讲话精神的具体举措，是党中央、国务院《成渝地区双城经济圈建设规划纲要》中的重要部署。2021年12月13日，中国人民银行联合国家发展改革委、财政部、中国银保监会、中国证监会、国家外汇管理局和重庆市、四川省政府印发《成渝共建西部金融中心规划》，提出将成渝建设成为立足西部，面向东亚和东南亚、南亚，服务共建“一带一路”国家和地区的西部金融中心，标志着成渝共建西部金融中心迈向实质性阶段。     

对成都建设西部金融中心的思考

本文从三个方面研究成都建设西部金融的有关问题。即通过与西部城市的比较分析成都金融的优势与不足，得出了成都已初步具备建设西部金融中心的潜力和基础的结论；介绍北京、上海和深圳建设金融中心的经验；从加强政府指导、扶持地方金融机构、发展货币市场、改善金融环境等四个方面提出成都建设西部金融中心的对策。     

建设“成渝模式”西部金融中心的构想

构建西部金融中心一直是成都和重庆两地政府的发展目标之一,两地政府都在不遗余力地扩大金融市场、培育金融产业集群,争取早日构建西部金融中心。在成渝经济区正式付诸实施之后,加强两地间金融合作,共同构建西部金融中心的"成渝模式"是较好的选择"。成渝模式"符合成渝经济区建设的客观要求,有利于解决西部金融中心"难产"的瓶颈,加快西部金融中心的建设步伐。     

金融科技支持金融中心建设的国际经验与发展思考

新一轮科技革命和产业变革背景下,金融科技正在成为全球金融中心发展的新动力,并日益成为各国以及各地区增强金融中心凝聚力和吸引力的重要着力点。基于金融中心的发展历程和演进规律,结合成渝地区双城经济圈建设背景,文章主要探讨了全球重要金融中心在发展金融科技方面的有益探索,同时围绕成渝共建西部金融中心的金融一体化问题,分析现阶段区域内金融科技建设的短板,浅析以金融科技建圈强链支持西部金融中心高质量建设的发展路径。     

Bayesian Premium Rating with Latent Structure

We propose a fully Bayesian approach to non-life risk premium rating, based on hierarchical models with latent variables for both claim frequency and claim size. Inference is based on the joint posterior distribution and is performed by Markov Chain Monte Carlo. Rather than plug-in point estimates of all unknown parameters, we take into account all sources of uncertainty simultaneously when the model is used to predict claims and estimate risk premiums. Several models are fitted to both a simulated dataset and a small portfolio regarding theft from cars. We show that interaction among latent variables can improve predictions significantly. We also investigate when interaction is not necessary. We compare our results with those obtained under a standard generalized linear model and show through numerical simulation that geographically located and spatially interacting latent variables can successfully compensate for missing covariates. However, when applied to the real portfolio data, the proposed models are not better than standard models due to the lack of spatial structure in the data.     

The development of the group accounts disclosure system in Japan

The Japanese disclosure system of consolidated statements was introduced in 1977 and extensively revised in 1997. The role of the bureaucracy has been significant in these developments and seems to be part of Japan's closed culture. However, other explanations could also be applied. In particular, although Japanese firms opposed such disclosures on the basis of preparation costs, the Japanese government had to modernize the disclosure system, including consolidation, in order to develop the securities market regardless of an individual company's interests.     

Moments of Compound Mixed Poisson Distributions

Recursive formulae are derived for the evaluation of the moments and the descending factorial moments about a point n of mixed Poisson and compound mixed Poisson distributions, in the case where the derivative of the logarithm of the mixing density can be written as a ratio of polynomials. As byproduct, we also obtain recursive formulae for the evaluation of the moments about the origin, central moments, descending and ascending factorial moments of these distributions. Examples are also presented for a number of mixing densities.     

The designing of corporate accounting law in Japan after the Second World War

After the Second World War, during the neutralization of the controlled economy of wartime Japan, a design for a Corporate Accounting Law was elaborated by the Investigation Committee on the Business Accounting System. The Investigation Committee tried to establish not only new business accounting standards but also a central and independent administrative organ of corporate accounting regulation on the basis of the Corporate Accounting Law. The Corporate Accounting Law was expected to lay the legal foundation of the new corporate accounting regulation regime in Japan. Nevertheless, even though the original design of the fundamental accounting law was never realized, it should be considered the starting point for our understanding of external accounting history in post-war Japan.     

The deliberation around accounting techniques: accounting for depreciation and foreign exchange in an Indian jute company, 1870-1900

This paper examines the way two accounting techniques, namely depreciation and foreign exchange, were deliberated on, between 1870 and 1900, in an Indian jute company whose shareholders resided in the UK. The arena for these deliberations was the conflictual relationship between controlling and non-controlling shareholders as to how best to account for depreciation and foreign exchange especially when the particular accountings affected distributional issues such as the dividend decision. The purpose of this paper is to analyse and explain the processes by which a company's accounting practices emerge and develop as a contest between different interests. Accounting framed the parameters of the deliberations and provided the language of power and dissent. The paper uses a rich archive that includes narrative and accounting material.     

Pricing Dynamic Insurance Risks Using the Principle of Equivalent Utility

We introduce an expected utility approach to price insurance risks in a dynamic financial market setting. The valuation method is based on comparing the maximal expected utility functions with and without incorporating the insurance product, as in the classical principle of equivalent utility. The pricing mechanism relies heavily on risk preferences and yields two reservation prices - one each for the underwriter and buyer of the contract. The framework is rather general and applies to a number of applications that we extensively analyze.     

Guidelines for Manuscripts Submitted to The China Journal of Accounting Research

正The China Journal of Accounting Research"CJAR"(ISSN 1755-3091)publishes quarterly.It contains peer-reviewed articles and commentaries on accounting,auditing and corporate governance issues that relate to the greater China region.We welcome the submission of both theoretical and empirical research papers pertinent to researchers,regulators and practitioners.Authors should note:1 Submissions must be original     

International harmonization of Japanese accounting standards

Historically, Japanese accounting standards have been quite distinct from International Accounting Standards (IASs) which have been perceived as being modelled on British-American accounting standards. However, in the 1990s, after the publication of E32 in 1989 and the IASC-IOSCO Agreement in 1995, the Business Accounting Deliberation Committee (BADC), the standards-setting body in Japan, has pursued a policy of harmonization with IASs. Accounting standards relating to consolidated financial statements of companies that make cross-border offerings of securities or operate worldwide are being revised drastically. This paper focuses on the development of international accounting harmonization and its impact on Japan.     

Commodity financialization and sector ETFs: Evidence from crude oil futures

We investigate the diversification benefits of energy assets in the setting of commodity financialization using data on crude oil futures and Sector ETFs (SPDRs). Correlations between commodities and financial assets increased during the post-Commodity Futures Modernization Act (CFMA)/commodity bull cycle period, resulting in lower benefits of diversification. However, we find that conditional correlations between crude oil futures and sector ETFs meaningfully increased only since the 2008–09 financial crisis. The results therefore suggest that the financial crisis, rather than CFMA regulation, explains changes in the diversification benefits of commodities. Moreover, we find that oil futures returns are less correlated with SPDRs than with the S&P index. Thus, energy futures, and crude oil in particular, offer the potential for diversification benefits in sector-style investing.     

Dutch accounting in Japan 1609-1850: isolation or observation?

The trading station or factory maintained by the Dutch East India Company (VOC) was Japan's sole window on the Western world during most of the Tokugawa period (1600-1868). While many aspects of the factory's role in Dutch/Japanese cultural exchange have been researched little is known in the West of the accounting at the factory. This paper considers the possibility that double-entry bookkeeping employed by the Dutch may have been diffused to the Japanese. The available evidence is synthesized after considering the accounting system in the Dutch factory.