麦肯锡把握中国资本市场的机遇 Mckinsey for China

SWS011212BJ(GB)-China Capital Market-Intro.
ppt
2001 12
BeiDouWeb.com
///////
1.
2.
3.
.....
<<<<>>>>
<<<<>>>>
Success is here!
1
C O N S U L T I N G
SWS011212BJ(GB)-China Capital Market-Intro.ppt
-2000
10
/GDP-2000
15,134
450%
3,194
400%
2,612
350%
1,447
300%
1,270
250%
792
770
768
640
623
582*
* 33%
FIBV; ; EIU;
200%
150%
100%
50%
0%
0
10,000 20,000 30,000 40,000
GDP
3
1993-2001
10
195
93-00
=52%
99
*
10
63 70
35
751
93-00
=50%
258
98
10 12 11
93 94 95 96 97 98 99 '00 '01 ***
495
371
44
176
306
202
49
838
744
93 94 95 96 97 98 99 '00 '01**
590
423
434
291 308
* AB
** 200110
*** 200110
: ; FIBV
386
281
=478
93 94 95 96 97 98 99 '00 '01E
4
**
(10)
, 2000
()
(
)
()
11,535
2000
(10)
96
11,060
3,597
3,194
623
582
248
155
148
113
550
19,789
72
2,316
60
377
386***
751
398
61
986
95
375
47
556
53
29
72
21
27
56
15
25
* AB
** 2000 1231
*** 33%
: ; BNP Paribas Peregrine
34
1992-1995
100 = 1992
250
1992
200
S.E.T.
150
100
1993
19949~19961
50
0
1992
1993
EIU;Datastream
1994
1995
1995-2000
100 = 1995
400
GDP8.8%(1995 2000)

199516200050
350
300
250
200
150
100
50
0
1995
:
S.E.T.
1996
EIU; Datastream
1997
1998
1999
2000
7
200159
2000
54.3
:
A
54.3

40.8
:
B
16.3
18.3
12.7
10.2
:
H
9.2
* H
:
2000
80%
2/3

2001226B
B
*
16.0
16.3
13.0
9.1
7.5
5.3

(95-2000)
(2000)
(2000)
2000
30
*
: Compustat;
(95-2000)
(2000)
2000
54
(2000)
1.
2.
2.1
2.2
2.3
2.4
2.5
3.
4.
10
1/2

10-70%
IPO
(50-60%
IPO 20-30%
80%IPO
IPO50%
42.2
10
20019
11
2/2

200087%
IPO
IPO
10-20%
793-0039%
12
10
63.0
44.4
26.7
15.3
12.4
4.1
2.1
1.4 0.7
3.6
5.4
2.5
1.6
1993
1994
1995
1996
7.7
2.7
7.7
6.6
1.2
19.8
2.2
18.5
11.4
9.7
10.8
1997
1998
1999
18.6
17.6
2000
2001*
4.1
*
2001
**
BHN
;
13
*
10
100% = US$
9.4
10.8
18.4
284

47%
43
45
72
53
57
55
28
1998
* A
**
; FIBV
1999
2000
US** 2000
14
1.
2.
2.1
2.2
2.3
2.4
2.5
3.
4.
15
80%
2.2
98%

50%

10
16
2000
10-20%
>98*
80-90
Fidelity,
Putnam, Jardine
Flemings

<2
*
:
17
2000
10
100% =
5800
378
0.3%
<20*
49
99.7
>80
51
58
42
(
)

20019
2000 2000 2000
* 10%
3
:
18
2000
50%6
*
**
:
2.2*
8.9**
~10.0
19
2000

20019

15%
20%
7%
20
1.
2.
2.1
2.2
2.3
2.4
2.5
3.
4.
21
(2000
2
1
0
0
:
50
100
/
150
200
22

/

(
K)

(
23
24
1.
2.
2.1
2.2
2.3
2.4
2.5
3.
4.
25
1999
ABH
2000
15
28
21
BH
BH
25
15
20002001
15
26
10
2000
100% =
10.8
56
18.6
49
8.8*
54
4.2**
64.7***
59
77
6-10
18
26
1999
26
25
2000
* A
**
***

27
19
2001
21
20
15
8
2000
2000
1.
2,359
2.
1,923
3.
1,829
4.
1,498
5.
1,498
6.
1,496
7.
948
8.
815
9.
747
10.
729
27
10
100% =
10
305
202
751
2000
3%
29
306
33
38
97
71
67
1998
1999
**
*
** A
62
2000
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
()
6.3
5.8
5.0
4.7
4.5
3.8
2.6
2.5
1.6
1.6
28
118
50
40
80%
29
1.
2.
2.1
2.2
2.3
2.4
2.5
3.
4.
30
19982001
10
4.0
516
2.4
69
105
100%=
104
20%
80
62
1998
1999
2.1
174
2.0
13
38
87
31
2000
2001E*
*
2001
**
200110

1998
1999
2000
2001E**
31
1993-2001
516
241
69
175
151
58
100%=
59
20
80
65
35
1993
1994
19
46
35
65
1995
*
2001

38
20
67
40
104
13
31
42
80
62
1997
1998
1999
87
54
1996
2000
2001*
32
*1993-2001
1999
25%
1,372
74
624
64
403
371
16
100%=
140
24
76
1993
105
71
29
1994
168
46 41 52
48
59
1995
1996
245
24
44
36
76
56
1997
1998
1999
26
2000
84
2001*
33
2000
150~300
,
,
BNP
200
300
200
667
180
200
200
474
34
40-50
30-40
35
1998-2001
10
4.7
2.9
1.3
6.6
3.3
4.0
3.4
1998 1999 2000 01E*
4.0
2.4
1.9
2.1
1998 1999 2000 01E

2.0
1998 1999 2000 01E
2.0
1.5
1.9
1.1
1998 1999 2000 01E*
73.0
61.0
62.0
50.0
1998 1999 2000 01E

* 200110
36
1993-2001
10
1200
772
10
502
494
447
339
100118
4 54
4.20
1993
1994
61
1995
300
218
110
61
80
1996
1997
1998
1999
2000
01E*
35
35
35
35
35
35
65
X
2.55
1.57
1.76
1.73
35 35
1.19
0.41
0.21 0.15
0.14 0.03
0.02
0.01
1993
1994
1995
1996
1997
0.12
1998
35
35
28
0.45
0.17
32
0.17
1999
2000
25
0.33
22
18
15
15
15
01E
1993
* 200110
; FIBV;
1994
1995
1996
1997
1998
1999
2000
01E
37
35
15
2000
35
1993
35
2000
2000
15
35
25
30
25
16
38
19982000
151
79

41
1998*
1999**
2000***
*
**
***
39
1998-2000
60 - 70
*, 1999
39
1998-2000
80% )

*,
1999
, 1999
28

16
40
1.
2.
3.
3.1
3.2
3.3
3.4
4.
41
42
4
WTO
43
WTO
20011211
33%
WTO
AB
33%
200412
A
B

33%

49%
44

()
22B
19BH
1997
2000
Kleinworth Benson

Invesco

Schroders
National Mutual
Insurance

45
10
2300
2200
2206
2100
2000
A6
21
1022
1900
1800
1700
1600
1520
(Oct.22)
1500
1400
1-
1Jun
Jul
1Aug
Se
Oct.
pt.-
2001115
Nov
.1
46
4:(
)
3 2
510
47
1.
2.
3.
3.1
3.2
3.3
3.4
4.
48
49
28
32
40
45
56
35
50
63
30
33
35
38
41
45
71
79
48
52
26
28
1
-6
-15
-27
-42
-60
-83
-110
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
50
2000500
100% =
500
6
500
64
94
36
51
10*
20016
100% = 10
10
10
10
10
10
10
10
100
80
70
60
40
**

***
30
20
20
2000
WTO
* 1999
**
***
;
52
20016
33

10
70
100
67
30
0
2000
2005
20052008
20011023

2001622452001
10221514

53
10
390
15
2005
54
1%
40
70
99
60
30
* 10
;
55
56
100% =
~21,000
24
90
76
GDP8.67
GDP2001
US$5900
42200560

2005
4060
10
2005
* 10
;
2005
500-1000
1400
57
1.
2.
3.
3.1
3.2
3.3
3.4
4.
58
WTO
59
10
2000
18.6
10.6% 89.4
2001E
17.6
10.6
2002E
2003E
2004E
2005E
20.9
10.7
24.7
10.9
29.2
34.6
1,259
89.4
1,421
1,604
89.3
89.1
11.1
11.3
88.9
88.7
1,810
2,042
2,305
=17%
*
:
60
()
**
30
174
157
19
* IPOIPO
** 70-802000
;
10
61
20019
24
2005
30%
QFII
WTO
62
10
280
450
2005
30%
2005
1.043-1.739

410630
2005
2.305
150
2000
20
2000
1%
9%
2005
63
1.
2.
3.
3.1
3.2
3.3
3.4
4.
64
10
()
78.3

GDP8.67
GDP
200142
200560

(1993~
2001)50
50
20012005
63.0
61.6
38.1
35.4
70
100 =
12.4
22%
78
18.5
41
59
48.4
41.9
49.6
58.7
54.3
19.8
11
30
89
1998
1999
2000
2001
2002
2003
2004
24
24
32
32
53
53
42
42
46
50
50
58
55
68
2005
2000
GDP
60
80
65
20012005
2001
2005
200
200
180*
180
300
300

200
200
100200
* 7
:
66
**
40-50
10-15
20-30
25-35
10-20
10-15
0-10
*
** 2000
:
~5
15-20
35-45

67
10
2000CFA*/
40
> 50
20 ~30
2000
40
2005
2000
0.05
* 17CFAs()35,000 40,000CFAs
:
68
2000
69
9.9
7.9
6.6
6.3
5.0
3.9
3.3 3.4
5.4 6.0
4.4 4.9
1998
99 2000
01E 02E 03E
04E 05E
4.0
x
2.4
2.1
1.9
2.1
1.9
2.2
1.7
2.2
1.5
2.0
200150%
200520%
***
1.2
73
1998 99 2000 01E
02E 03E 04E 2005E
61
62
50
43
35
28
20
1998
* 1999
** 2000
:
99
2000
01E
02E
03E
04E
2005E
70
10
1,739
1,267
10
675
480
306
594 713
7.7
6.0
4.7
3.7
1.9
7.9
3.3 3.4
1998 99 2000 01E 02E03E 04E 05E
6.3
+
5.4 6.0
4.4 4.9
10
4.1 4.6
3.2 3.6
5.0
1,043
1998 99 2000 01E 02E03E 04E 05E
9.9
6.6
864
4.7
2.8
1.3
921
751
202
10
32
31 31
29
27
25
24 22
3.9
2.3
1998 99 2000 01E 02E 03E 04E 05E

2.0
1.9
1.9
1.6
1.5
1.3
1.1
1.2 1.2 1.3 1.4
1998 99 2000 01E 02E 03E 04E 05E
2005
25(
)
15
200080%
200570%
1998 99 2000 01E 02E03E 04E 05E
2005
30%
1998
71
20002005
10
GDP
8.6%
994
582
10
320
236
71% 68
29 32
1,739
921
675
306
594
713 864
65
35
58
42
50
57
60
200142%2005
60%
480
202
33
506
715 844
43
50
1998 99 2000 01E 02E 03E 04E 2005E
1,267
751
67
610
GDP
40
1,043
1998 99 2000 01E 02E 03E 04E 2005E
2005

*250%
386
291 308
270 265 260 255

250

**150%
233 201 174 150
1998 99 2000 01E 02E 03E 04E 2005E
* 1999
** 2000
:
72
73
74
75
54%
~25
~10
~10
<1
62

76
40-50%
25-35
**
39%
10
24
10-20
0-10
0-10
* 2000
**
: ; Company reports
27
77

麦肯锡 把握中国资本市场的机遇 Mckinsey for China

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

麦肯锡 把握中国资本市场的机遇 Mckinsey for China

Uploaded by

Copyright:

Available Formats

SWS011212BJ(GB)-China Capital Market-Intro.

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

10,000 20,000 30,000 40,000

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

2000 2000 2000

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

1998 1999 2000 01E*

1998 1999 2000 01E

1998 1999 2000 01E

1998 1999 2000 01E*

1998 1999 2000 01E

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

SWS011212BJ(GB)-China Capital Market-Intro.ppt

麦肯锡把握中国资本市场的机遇 Mckinsey for China

麦肯锡把握中国资本市场的机遇 Mckinsey for China