Preface to the English Editioni Prologue： The Bank Has Many Aspects， I Know Just a Fewiii Part One China’s AMCs in Their Early Days： The Key Facts to Understand Them1 A Reasonable Pricing of Distressed Assets Cru for AMCs’ Operations5 China’s AMCs Are Not Losing to RTC15 Operations and Development of China’s Finan AMCs23 Attracting Foreign Capital to Dispose of China’s Distressed Assets39 How to Dispose of State-Owned Commer Banks’ NPLs49 Exploring a New Mechanism to Develop AMCs in the New Circumstances62 A New Path for Non-Performing Loan Securitization76 D’Long’s Trusteeship – One of Huarong’s Innovative Experiences in Distressed Asset Disposal86 Part Two China’s Banking Reform and Development： The Big Picture and Some Unique Perspectives99 A New Chapter for ICBC – ICBC’s First Press Conference After the Joint-Stock Reform101 Some Thoughts on Maintaining the CAR of Chinese Commer Banks112 The Essence of Finan Lease128 The Classification of MSEs Needs to Be Improved137 China Should Be Alert to Risks Caused by Insufficient Finan Innovation141 The Real Economy and the Finan Industry Are Not Opposed to Each Other145 The Business Model and Challenges of the Chinese Banking Industry151 On Establishing Banks With Private Capital Promoters163 Several Issues to Clarify About China’s Banking Industry173 Excess Capacity and Excess Lending： Issues to Be Resolved When Entering the New Normal201 Promoting Healthy Development of China’s Bill Market210 My Views on the Loan-to-Deposit Ratio Requirement217 Credit Asset Securitization Should Be Accelerated226 Some Insights From the Securitization of Credit Assets in the United States 233 When Simply Expanding Investment Is no Longer a Good Idea240 Some Thoughts on the Debt-to-Equity Swap245 Part Three 2008 Finan Crisis： Reflections on Some Critical Issues 253 The Subprime Mortgage Crisis From a New Perspective255 Two Points on Improving the Fair Value Measurement271 A Rational Look at Standard & Poor’s Rating Revision277 The Fifth Anniversary of Lehman Brothers’ Fall287 Part Four Internet Finance： What Is Right and What Is Wrong 297 Thoughts on Internet Finance299 Development of Internet Finance Needs Healthy and Good Cultural Support318 Integration， Inheritance and Innovation Are the Way Forward for Internet Finance328 What Does Finan Innovation Need in Addition to Technology?334 How Commer Banks Build Their Big-Data Capability and Apply it in Risk Management342 Big-Data Misinterpretation in Internet Finance and Its Examples417 Sustainable Development of Internet Finance Needs Reining in Trial-and-Error Costs425 Epilogue： Follow Dialectics and Avoid Overstatement431
