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T w  {X 6  8  [ChinaF  H X 0޽h ? 7~5y___PPT10Y+D='  = @B +  O 0 N0,- 1080929L.ppt  7B` (  `T ` S "`= FB  ` S T  ` S "`= T  ` S +"`{8= T ` S +"`x= T ` S +"` j = T ` S +"`q = T ` S +"` ? = T ` S 33+"` 1 = T ` S +"` i= T ` S +"` Y= T ` S +"`& = T ` S +"`/ /= @B ` C = @B ` C & & @B ` C   @B ` C   @B ` C @B ` C @B ` C @B ` C @B ` C @B  ` C = = @B !` C  YY: @B "` C  : @B #` C  : @B $` C    : @B %` C  : @B &` C  QQ: @B '` C  : @B (` C  {{: @B )` C  : @B *` C  :  ,` 6  o\  ;2F  -` 6  oF  ;4F  .` 6  o'  ;6F  /` 6 o  ;8F  0` 6l @ <10F  1` 6(č t@ <12F  2` 6ȍ f@ <14F  3` 6ˍ G@ <16F  4` 6PЍ "`o $  YUSAF   5` 64Ս "`f   [ChinaF   6` 6Ӎ "`h E  [JapanF   7` 6ݍ "`i  [IndiaF   8` 6< "`n .  ]GermanyF   9` 60 "`l   \RussiaF   :` 6 "`j _  XUKF   ;` 6 "`h 5;  \FranceF   <` 6 "`o   \BrazilF   =` 60 "`j 4  [ItalyF   >` 6D )  |GDP (USD, trillions) (  ` ?` 6 B2  hSource: WEF  Global Competitivenes Report 2009-2010 55F P  !   A` Ht  HM }   H ` 0޽h ? 7~5y___PPT10Y+D='  = @B +3   0 N0,- 1080929L.ppt 22@Ym(L2(  (N ( C "`@  N ( C "`3  N ( C "`  N ( C "`&  N ( C "`  N ( C "`  N ( C "` ~ N  ( C 33"`  N  ( C "` } N  ( C "` ~ :B  ( 3  >2 :B  ( 3  >> :B ( 3  ;; :B ( 3  << :B ( 3  99 :B ( 3  ;; :B ( 3  88 :B ( 3  5 5  :B ( 3  6 6  :B ( 3  4 4  :B ( 3  5 5  :B ( 3  2 2   ( 6 o  K7.0,F   ( 6  z  [6.5<F  F  ( 6( ( |  [6.2<F  F  ( 6`  w  K6.0,F   ( 6X  zZ  [5.8<F  F  ( 6*  w  [5.7<F  F  ( 6`/  u  [5.7<F  F  ( 6- K v  [5.6<F  F   ( 69 K s  [5.6<F  F  !( 6@ K u  [5.6<F  F $ ,( 6F C1  2Source: WEF Global Competitivenes Report 2009_201033F J  N -( C "` k N .( C "` o N /( C "` xN 0( C "`}N 1( C "`N 2( C "`N 3( C 33"` N 4( C "`j%N 5( C "`j.N 6( C "`j2:B 7( 3  :B 8( 3  :B 9( 3  :B :( 3  :B ;( 3 :B <( 3 :B =( 3 :B >( 3 :B ?( 3 :B @( 3 :B A( 3 :B B( 3  C( 6R ! l  K7.0,F   D( 6W  n z [6.7<F  F  E( 6\ Ux [6.6<F  F  F( 6b y  [6.2<F  F  G( 6h y [6.2<F  F  H( 6Tn s [6.2<F  F  I( 6|s y [6.2<F  F  J( 6x 4 [6.1<F  F  K( 6} $: [6.1<F  F  L( 68 #: [6.1<F  F  W( Hh  HM }   2B X( # l4 __?1?" Q Domestic Market Size Index"    7B Y( # l씡 __?1?#" `U  Foreign Market Size Index"     Z( <` "`; w  YUSAF   [( <@ "`9 y [ChinaF   \( < "`;  [JapanF   ]( <ܫ "`D   [IndiaF   ^( < "`@  ]GermanyF   _( < "`@ }  XUKF   `( <l "`< z B \FranceF   a( < "`B q B \RussiaF   b( < "`> ~ * \BrazilF   c( <d "`A w  [ItalyF   d( <ʡ "` g  [ChinaF   e( <Ρ "` o  YUSAF   f( <ҡ "` }  ]GermanyF   g( <ס "`   [IndiaF   h( <ۡ "` |  [JapanF   i( < "`   [KoreaF   j( <h "`   \RussiaF   k( < "` "   Hong Kong> F F f3F    l( < "` .  XUKF   m( < "`% 0+  \FranceF  H ( 0޽h ? 7~5y___PPT10Y+D='  = @B +oF  Q 0 N0,- 1080929L.ppt JEBE]rqpD(  p p f R?Rectangle 3"` UF>6___PPT9  Russian share market capitalization: USD 704.1 bln. (56% of Russia s 2009 GDP); Russian market turnover: accounts for more than 60% of the total market turnover of CIS, Central and Eastern Europe; MICEX SE joins the list of top 20 leading world exchanges./    v    * rq p H  HM }    p B #  'Source : World Federation of Exchanges(( (   p B??"6?@`NNN?Nl * q <t L gStock exchange  B  q <% e  Turnover, USD, bln." B <    q <H, 8 =1 B q <- 8L F NASDAQ OMX B q <( 8 P  g13, 790 B   q <; S =2 B  q <: LS NNYSE Euronext (US) B q <G  / S f8, 248 B  q <L : =3 B q <pR :LO DTokyo SE B q <|W : P  f1, 762 B  q <X O =4 B q <4Z LO G Shanghai SE B q < O  P O f1, 698 B  q <k 6 =5 B q <r 6L G Shenzhen SE B  q <w 6 P  f1, 245 B  $q <v W  =6 B %q < LW  E London SE B &q <  P W  f1, 134 B  *q < >   =7 B +q < > Lw  RNYSE Euronext (Europe) B ,q < > p 0  ?997 B 0q <D  S  =8 B 1q <ܢ  LtS  nDeutsche Borse B   2q <L  p 0 S  ?930 B 6q <T ?   =9 B 7q <ൣ ? Lb  QBME Spanish Exchanges B 8q <$ ? p 0  ?706 B 10 B =q <ã  LT  JKorea Exchange B >q <ǣ  p 0 T  ?676 B Bq <̣ 5   >11 B Cq <ѣ 5 L  OHong Kong Exchanges B Dq <ϣ 5 p 0  ?640 B Hq <ܣ  J  >12 B Iq <  LJ  E TSX Group B Jq <8  p 0 J  ?562 BXB bq 0DjJf XB cq 0DjJffo XB dq 0DjJ/e /XB eq 0DjJ w XB fq 0DjJp ` p  gq B??"6?@`NNN?NK * q <ߣ 9 a fStock exchange B  q <  Turnover, USD, bln." B (     q <D +   >13 B  q < +3  I Australian SE  B  q < +S ?528 B q <    @ >14 B q <x 3 @ JBorsa Italiana B q < S@ ?451 B q <t -   >15 B q <8" -3 e NSIX Swiss Exchange B q <x$ -S ?369 B q <4.   < >16 B q <0 3 -< VNASDAQ OMX Nordic Exchange B q <. S< ?367 B !q <: #   >17 B "q <T8 #3  G BM&FBOVESPA B #q <18 B (q <N 3 D  KTaiwan SE Corp. B )q <x+ SD  ?354 B -q < X +   >19 B .q <dV + 3 r  YNational Stock Exchange India B /q <@c + S  ?313 B 3q <a   F  J20,F 4q <Tn  3 F  PMICEX SE, F 5q <r  S@  K196,F 9q <w ,   >21 B :q <p , 3   G Istanbul SE B ;q <| , S  ?185 B ?q <8   A  >22 B @q <T  3 A  KJohannesburg SE B Aq <\  SA  ?171 B Eq <x (   >23 B Fq < ( 3 7  i Oslo Brs B&  Gq <8 ( S  ?134 B Kq <   =  >24 B Lq <  3 T=  NSingapore Exchange B Mq <d  S=  ?115 BXB hq 0DjJE XB iq 0DjJE E o XB jq 0DjJ/D /XB kq 0DjJ  w XB lq 0DjJp ? p dB oq # l __?1?#" `ft FEquity turnover in January May 2010"$  $#  H p 0޽h ? 7~5y___PPT10Y+D='  = @B +  R 0 N0   x((  x" x T3f??"6@`NNN?NL" x T33??"6@`NNN?NN! R x  `դ ? l!jJ?"6?@`NNN?N M  Competence of Russian Government!!   dQ x  `ޤ ? l!jJ?"6?@`NNN?NR :  Competence of Moscow Government    $ _ x  ` ? l!jJ?"6?@`NNN?N, 3Shared competence of Russian and Moscow Governments443   x 6  M } Z&Moscow as IFC: Strategy of development&    x 6 ``b Concept of Russia s long-term socio-economic development until 2020 (Russian Government Resolution No 1662-r dated 17.11.2008)2>;XC !      x HD ? ?"6?@`NNN?N]t O Development of legal base; Development of efficient financial infrastructure.PP( 3  0qq x H| ? ?"6?@`NNN?N   Development of non-financial infrastructure, improvement of social and living standards; Development of competitive labour market in Moscow financial sector. 4  x H ? ?"6?@`NNN?NF\\  ~ Formation of modern financial system; Development of favorable conditions for investment inflow into Russia, increase in IPOs, fund market turnover, including turnover of derivatives; Shaping of the City s brand as IFC and boosting investor confidence.<&  E H x 0)R޽h ? )R{fy___PPT10Y+D='  = @B +  \ 0 N0 `C0 ;(    # L\ 0e0e     ? A@  A5% 8c8c     ?HA)BCD|E||c " ?@  `    @ABC DEEFGHIJK5%LMNOPQRSTUWYZ[ \]^_ `abN E5%  N E5%  N F   5%    !"?N@ABC DEFFGHIJK5%LMNOPQRSTUWYZ[ \]^_ `abM }      f ? l!jJ?"6?@`NNN?N-C =eAction plan on development of IFC in Russia (Russian Government Resolution No 911-r dated 11.07.2009)&f,:x, $     1qq68  CX\ % S "`,Z # s *X99?G  & <$ - lActivity, F  ' <t% n- n Competence, F   ( <l+ T  'Development of financial infrastructure ('B'  ) <2 T~ _Federal B  * <7 @ z.Proliferation of financial market instruments//.  + <(5 :~ _Federal B 6 , 6C 2 Ff  FRegulation of financial market and improvement of corporate governance6GB'B( '  . <? z ~  _Federal B  / <P  Z\  |.Widening of financial market participants base//B.  0 <U  b  h Federal B  1 6d[  F  HEnhancement of tax legislation regulating operations on financial market IHBH  3 <b    kFederal (shared)"B  5 6g J F  {5Development of non-financial infrastructure of Moscow66B 6  7 < l J   hFederal & Moscow B  8 6r JF 6Promotion of Russia in international financial markets 76B6  : <dx P hFederal & Moscow B `B ; 0DjJ`B < 0DjJ))`B = 0DjJ`B ? 0DjJ`B @ 0DjJH  0޽h ? 7~5y___PPT10Y+D='  = @B +U  v 0 N0 d\(    # L 0e0e     ? @  5% 8c8c     ?HA)BCD|E||c " ?@  `    @ABC DEFGHIJK5%LMNOPQRSTUWYZ[ \]^_ `abN 5%  N 5%  N    5%    !"?N@ABC DEFGHIJK5%LMNOPQRSTUWYZ[ \]^_ `ab       fH ? l!jJ?"6?@`NNN?Nva bAction plan on Moscow development as IFC (Moscow Government Regulation No 445-GR dated 19.05.2009)6c)&9""<)      1qqB  <1??"0@NNN?N"-m"z  6 m Development of the City s transport infrastructure Development of the City s public utilities Improvement of living and social conditions for foreign specialists Improvement of ecological environment Improvement of public safety Development of the City into financial training hub Development of healthcare and social infrastructure Facilitation of coverage of IFC development in mass-media"F"2 * D %  4 3 9 r0Uy 3H  0޽h ? 7~5y___PPT10Y+D='  = @B +.  w 0 N0 =5(     NH ? ?"6?@`NNN?NM } MInternational Cooperation  "  B4 "` { hMoscow*(lF c"   fx ??"6?@`NNN?NQ  '2006 Frankfurt- Rhein-Main GmBH Agency((( ! "  Hh "`LU $2008 Frankfurt-am-Main Government4% "   f,¦ ??"6?@`NNN?N E  12010 Luxembourg for Finance Agency (Luxembourg)62 D    "   fɦ ??"6?@`NNN?N 2010 Paris EUROPLACE (Paris)X "   fѦ ??"6?@`NNN?N q  . Frankfurt Main Finance Association (Planned)2/ D    "    f ٦ ??"6?@`NNN?N  2Centro Financiero de Madrid Association (Planned)&3) 0   B   Z?DjJ?"0?@NNN?N B   Z?DjJ?"0?@NNN?Ni B   Z?DjJ?"0?@NNN?N^B   6DjJ R  # l?GbHIbjJ?"0?@NNN?N{p R  3 r?GHM}IjJ?"0?@NNN?N H  0)R޽h ?/@ )R{fy___PPT10Y+D='  = @B +  x 0 N0,- 1080929L.ppt y q   (  X    0e0e ?H?"B0e@ NNN?N,       N ? ?"6?@`NNN?NM } _+Advisory Board on Moscow Development as IFC+  "   f ??"6?@`NNN?Nm+  aReform of the Russian financial market regulation for the purpose of development of Moscow as IFCbba }"   fk ??"6?@`NNN?N ; x  [Optimization of corporate governance standards and development of the Russian stock market\\[ h"   fp ??"6?@`NNN?N) `  FEducation and training for financial and credit institutions in MoscowGGF h"   f ??"6?@`NNN?N.*  FMoscow IFC development index, marketing and promotion of Moscow as IFCGGF j"   f ??"6?@`NNN?N, HDevelopment and modernization of non-financial infrastructure of MoscowIIH B   T?DjJ?"0?@NNN?Nz~ ~ B   T?DjJ?"0?@NNN?Ny XB  @ 0DjJl* XB  @ 0DjJS  B   T?DjJ?"0?@NNN?N  H  0޽h ? 7~5y___PPT10Y+D='  = @B +Bb  y 0 N0 QaIa$%`(  V  B$  ??"6@ NNN?Nb Tn  Board permanent members: the Savings Bank of Russia, the VTB Bank, the Citibank, the Nongovernmental Pension Fund Lukoil-Garant, the RTS Stock Exchange, the Noncommercial Partnership National Depositary Centre, the Closed Joint-Stock Company Depository Clearing Company, the Russian Union of Industrialists and Entrepreneurs, the Russian Bankers Association, the Moscow International Business Association, Standard & Poors, PricewaterhouseCoopers, Ernst & Young and others.Bf3T      .  8   6   - *     qq  Nt ? ?"6?@`NNN?NM } _+Advisory Board on Moscow Development as IFC+  PF       BCRDEF@@R @` r    BCDEFrr(((555CCCIIIWWWdddqqq~~~          %%%222???FFFSSS```gggttt{{{!!!!!!!!!!!@` r Y  BCRDEFR @`      BCDEFrr!! ! ! !!!!!!!!!!'''555;;;IIIOOO]]]jjjqqq~~~ +++888>>>LLLYYYffftttzzz!@`  Y   BCDEF// @` *    BCDEFrr            !!!!!!.!.!.!5'5'5';';';'B'B'B'H.H.H.O.O.O.V5V5V5\5\5\5c5c5c5c;c;c;j;j;j;pBpBpBwBwBwB~B~B~B~I~I~IIIIOOOOOOVVVVVV\\\\\@` Y   BCDEF @`G R& x   HBC.DExF      .>@@`G 8f  B CDE,F6KKKKK            !!!!!!''''' @`mT   BCDEFKKK' @`: mT h  8BC;DEF<<      !!!!!!((((((......555555;;;;;z|@`: Y  BOCDEFooOOIIIIIIBBBB B B ; ; ; ; ; ; 555......((((!(!(!!!!!!!!!!''' ' ' ' . . ....55 !!!((((((......555;;;;;;BBBBBBIIIIIIOOO@`   BVCDEFV]V @`3 z P  BC]DEF99(((((......555555<<<<<<<<<BBB~B~B~B~I~I~IwIwIwIpOpOpOjOjOjOcVcVcVcVcVcV\V\V\VV]V](tx@`3 z0   BC_DETF^zzzmmm```YYYLLLEEE888111$$$   ~~~~~~~~~wwwwwwwwwqqqqqqqqqjjjjjjjjj~d~d~dwdwdwdp]p]p]j]j]j]c]c]c]]V]V]VVVVVVVOPOPOPIPIPIPIIIIIIBIBIBI;I;I;I5C5C5C.C.C.C.<.<.<'<'<'<'5'5'5!5!5!5555//////(((((( ! ! ! ! ! !    !!!''''''......555;;;B B B I I I IIIOOOVVV]]]cccjjjpppw$w$w$~$~$~$$$$******111111111888888888>>>>>>>>>EEEEEEEEEEEE K K KKKKKKK$R$R$R1R1R1R8R8R8RERERERLYLYLYYYYYYY`Y`Y`YmYmYmYzYzYzY___________,0@`sN   BC_DEF_ @`N s^    BC7DEFkk77777000000z0z0z0m0m0m0`*`*`*Y*Y*Y*L*L*L*E*E*E*8#8#8#1#1#1#$#$#$####   ~~~wwwpppjjjccc]]]VVVOOOIIIIIIBBB;;;555......''''''!!! }}}}}}}}}wwwwww p p p p p p j j jjjjcccccc\\\\\\!V!V!V'V'V'V'O'O'O.O.O.O.O.O.O5H5H5H;H;H;HBBBBBBIBIBIBIBIBIBO;O;O;V;V;V;]5]5]5c5c5c5j.j.j.p.p.p.w.w.w.~'~'~'''''''!!!!!!    7@`^  0  BfCDEFff___XXXRRRK K K E E E > > > 777111***!!! ! ! !!!!(((((((((/////////555555555555<<<<<<<<<}<}<}<pBpBpBiBiBiB\B\B\BUBUBUBHIHIHI;I;I;I4I4I4I'I'I'IIIIPPPPPPPPPPPPPPPPPPVVVVVVVVVVVVVVVVVVVVVzVzVzVmVmVmVfVfVfVYVYVYVLVLVLV>V>V>V1V1V1V$]$]$]]]]]]]]]]]]]VVVVVVVVVVVVVVVVVVVVVVVVVVV~V~V~VpVpVpVjVjVjV]V]V]VOVOVOVBPBPBP;P;P;P.P.P.P!P!P!PPPP P P PII     !!!...;;;BBBOOO]]]jjjppp~~~$$$111>>>LLLYYYfffmmmzzz      ' ' ' 4 4 4 ; ; ; HHHUUU\\\iiippp}}}   ***111777>>>EEEKKKRRRXXX___fff@` , h  8BfCDEFfVfV_]_]_]X]X]X]R]R]R]KcKcKcEcEcEc>j>j>j7j7j7j1j1j1j*q*q*qqqqqqqwww w w wwww~~~~~~~~~}}}pppiii\\\UUUHHH;;;444'''zzzmmmfffYYYLLL>>>111$$$~~~pppjjj]]]OOOBBB;;;...!!! fV@` ,:   6 / : C  Educational institutions (4)4 F    ,  6P5 C  <Rating agencies, legal, auditing and consulting firms (13)*=F . <     6X< ,  sPension funds (1)*F      69  h  mStock exchanges (2)"F    60F "- e Banks (4)$ F     6XK u p  4Financial market infrastructural organizations (2)*5"F  0 :  6Q  } v0  JAssociations and units of professional financial market participants (9)*KF 1 <       6W (  "Moscow Government authorities (4)4#F    LB ! c $D T LB " c $D@B^LB #@ c $DbLB $ c $DJ nj B % # lL_ __?1?":E u Board Members   H  0)R޽h ? )R{fy___PPT10Y+D='  = @B +  z 0 N0  [(    B0k  ??"6@ NNN?NTl  CThe formation of the Foundation has started in August 2010 Key objectives of the Foundation: Promotion of implementation of international standards of risk management in Russian financial organizations Development of financial education standards and risk management science in Moscow Participation in development of legislation regulating issues of risk management in Russia Decision making assistance in practical application of risk management by financial institutions Promotion of Moscow as IFC_`;"`7 ! n R Z `  q(  Ndj ? ?"6?@`NNN?NM } l8Foundation for Risk Management and Financial Innovations8  H  0)R޽h ? )R{fy___PPT10Y+D='  = @B + | 0 N0 &`(  ~  s *} L&f   H  0޽h ? )R{fy___PPT10Y+D='  = @B +y  } 0 N0,- 1080929L.ppt TL(  h    0e0e ?H?"B0e@ NNN?Nl    .q%N<  N ? ?"6?@`NNN?NM } (Dynamics of development of Moscow as IFC)((  H  0޽h ? 7~5y___PPT10Y+D='  = @B +  ~ 0 N0,- 1080929L.ppt um(  h    0e0e ?H?"B0e@ NNN?N    .  @@``  Nخ ̙ ??"6@`NNN?Nb  2NGrowth index (IFC development dynamics) Size index (peer IFC comparison)p      P      7  N ̙ ??"6@`NNN?N` XF  {#Quality of life and national health $0>$# A  N4 ̙ ??"6@`NNN?N X@ 4  Business-environment and infrastructure Human capital Corporate management Nonfinancial infrastructure development Goods and services competitivenessT(n   n x     ' "   Nʨ ̙ ??"6@`NNN?NX@ ?  \ State regulation Legal and regulatory environment Taxation Financial sector liberalization HKJP        N ??"6@`NNN?N| B  BԨ  ??"6@ NNN?N  mIFC development framework    N ??"6@`NNN?N x!   Hب ? ??"<?@@`NNN?Nf s eSystem of Indexes    Nܨ ̙ ??"6@`NNN?N 2  [ Influence       B,  ??"6@ NNN?Nd< gDevelopment Indexes '   N| ̙ ??"6@`NNN?N WF  kFinancial stability 0>   6<  M } j6Current approach to evaluation of development dynamics6  H  0޽h ? 7~5y___PPT10Y+D='  = @B +   0 N0 #(  (   ` ? ??"6?@`NNN?N38 Z IFC Growth Index is the average ratio of volume indicators of a financial centre of Russia in certain years to the base year. IFC Size Index shows the ratio of volume indicators of Russia s financial centre to peer countries.0>(~ d `!U_  6  M } U!System of IFC Development indexes!  H  0޽h ? )R{y___PPT10Y+D='  = @B +"   0 N0,- 1080929L.ppt o!g!/0 (    0 0 #"J>0  g  6  ?"`0F>6___PPT9 % Market derivative turnover$&( of3&"$  H  6  ?"`0%F>6___PPT9 4 Equity turnover on Moscow stock exchanges$5( of35"D     H  6  ?"`0I %F>6___PPT9 2 Bond turnover on Moscow stock exchanges$3( of33"("   H  6,'  ?"`0m I F>6___PPT9 @ Foreign currency operations on Moscow stock exchanges$A( of3A"0 %   H   62  ?"`0 m  Financial market turnover*("  Hi  6`<  ?"`0  F>6___PPT9 ' Stock market capitalization$(( of3("   Hh   6>  ?"`0  F>6___PPT9 & Bond market capitalization$'( of3'"   H    6Q  ?"`0  Financial market assets*("  H   6[  ?"`0!F>6___PPT9 B Pension funds assets$"( of3""   H   6^  ?"`0E!F>6___PPT9 B Mutual funds assets $"( of3""   H   6h  ?"`0iEF>6___PPT9 = Insurance premiums paid in the Russian Federation$>( of3>" 1  H  6{  ?"`0i Non-banking sector*("  H'  6x  ?"`0 7 Total assets of the Russian banking system 8%(f38" *  H  6H  ?"`0 Banking sector*("  H`B  0o ?0`B  0o ?0`B  0o ?00`B  0o ?`B  0o ?00`B  0o ?`B  0o ?00i`B  0o ?i`B  0o ?0i0E`B  0o ?iE`B  0o ?0E0!`B  0o ?E!`B  0o ?0!0`B  0o ?!`B  0o ?00 `B   0o ? `B ! 0o ?0 0 `B " 0o ?  `B # 0o ?0 0 `B $ 0o ?  `B % 0o ?0 0m `B & 0o ? m `B ' 0o ?0m 0I `B ( 0o ?m I `B ) 0o ?0I 0%`B * 0o ?I %`B + 0o ?0%0`B , 0o ?%`B - 0o ?00`B . 0o ? / 6  M } ODevelopment Index structure  H  0޽h ? 7~5y___PPT10Y+D='  = @B +.'  0 N0 =&5&TW%(    0P ̙A"`2 >   6 ^ bBanking sectorF  N  C A"` W   6䩥   fNon-banking sectorF  N  C fA"`52  6\ '^G  mFinancial market turnoverF  N  C A"`5 W    6 '  kFinancial market assetsF  :B   3 oDT2   S ̙1"`"   6 d 3 pComposite index (left scale)F     6ܹ  M } `,Index of Growth of the City of Moscow as IFC,  N  C "` @B  C   @B  C N  C "` @  C ̙{W @  C ̙  @  C ̙G O @  C ̙ } @  C  @  C w @  C  O @  C  }6 @  C f}  @  C f I @  C f5 w @  C f  @  C k @  C B I @   C  w @ ! C ;  "  BCDE F@"` :B # 3 ; ; :B $ 3   :B % 3   :B & 3 aa:B ' 3 :B ( 3 :B ) 3 :B * 3   :B + 3   :B , 3 m  :B - 3 m   :B . 3 m KK :B / 3 m zz :B 0 3    1  BuCDEFo;=u @"`P T2 2 S ̙1"` 7p T2 3 S ̙1"`e T2 4 S ̙1"` T2 5 S ̙1"`$T2 6 S ̙1"`Y/:B 7 3  :B 8 3   :B 9 3 ; ; :B : 3   :B ; 3   :B < 3 aa:B = 3 :B > 3 :B ? 3  @ 6̥  "n  G0.5(F   A 6ѥ  "(  G1.0(F   B 6֥ k "  G1.5(F   C 6pܥ #" G2.0(F   D 6ԥ "O G2.5(F   E 6 " G3.0(F   F 6 @% G3.5(F   G 6@   H2005(F   H 6  "  H2006(F   I 6  Q   H2007(F   J 6$  @ H2008(F   K 6h  k H2009(F   L 6H  Fn  G-30(F   M 6L  '  E0(F   N 6  n &  F30(F   O 6, #& F60(F   P 6  &H F90(F   Q 6 V G120(F   R 6$ GV G150(F   S 6|) y  r" Composite index value## "  T 6- sY  nChange in index components (%)  H  0޽h ? )R{y___PPT10Y+D='  = @B +N  0 N0 MM  `CM(   ~   s *|2 HM }   9B   # l5 __?1?" `J   Growth - Size"  ,   B   # lF __?1?"  m Size (2009)"     *B   # lLH __?1?"`i  Growth (2009/2008)"    F )X     BB   3 )X V   C "`)X V   C "`eV   C "`*%yV   C 33"`z?V   C "`V   C "`|V   C "`B  V   C "` V V   C "`      BC"DE F""@"`)4BB   3 )4BB   3 )242BB   3 )f4fBB   3 )4BB   3 )X BB   3 ))BB   3 BB   3 BB   3 {{BB   3 @@BB   3   BB   3   BB   3   BB   3 X X    6Y n 90.4F  !  6 ] y 90.8F  "  6d  91.2F  #  6Hg  91.6F  $  6]   XMumbaiF   %  6j , G  XLondonF   &  6@r @8 XMoscowF   '  6l ?+G  XWarsawF   (  6s <`  [ Singapore F    )  6Ѓ 5 W I  [ Sao Paolo F    *  6  K  WTokyoF   +  6܊ K [ I  [ Frankfurt F   @B -  C   F  6< L p  71F  G  6@ L p  72F  H  6Ȕ L p N 73F  I  6 'L p } 74F  J  6 {[ XLondonF   K  6t x4D  WTokyoF   L  6諪 6F [ Frankfurt F    M  6T +#D  XMoscowF   N  6ж  XMumbaiF   O  6l D  [ Sao Paolo F    P  6  [ Singapore F    Q  6 ƪ F  XWarsawF  N R  C "` @B S  C @B T  C   @B U  C   @B V  C 7 7 @B W  C ` ` @B X  C   @B Y  C  @B Z  C  @B [  C  @B \  C  @B ]  C  @B ^  C  @B _  C  :B `  3 1:B a  3  1 :B b  3  1 :B c  3 7 17 :B d  3 ` 1` :B e  3  1 :B f  3 :B g  3   :B h  3 :B i  3  :B j  3  :B k  3  :B l  3 :B m  3 :B n  3 :B o  3 T2 p  S 33o"`R 8 2 q  B?33jJ?"6?@`NNN?N tB 2 r  B?33jJ?"6?@`NNN?N J 2 s  B?33jJ?"6?@`NNN?N -q*2 t  B?33jJ?"6?@`NNN?N} ( 2 u  B?33jJ?"6?@`NNN?N 2 v  B?33jJ?"6?@`NNN?N  T2 w  S 33jJ"`x b   x  ZXת ??"6?@`NNN?Nh nf  XMoscowF    y  Zܪ ??"6?@`NNN?Nt =  XLondonF  # z  Z ??"6?@`NNN?N:   [ Sao Paolo F    {  Z ??"6?@`NNN?NV   WTokyoF    |  Z@ ??"6?@`NNN?N K?   XMumbaiF  # }  Zd ??"6?@`NNN?N  [  [ Singapore F   # ~  Z ??"6?@`NNN?N t [ Frankfurt F      < "` F2?  VWarsaw     <$  /  ZGrowthF     6  G0.9(F     6   G1.0(F     6  7  G1.1(F     6  c  G1.2(F     6 5   G1.3(F     6 Z   G1.4(F     6$ #x y XSizeF     6P) 3 G0.5(F     6. , G1.0(F     683  &  G1.5(F     68    G2.0(F     6X   G2.5(F     6A  G3.0(F     6E  G3.5(F     6D  G4.0(F     6,P  G4.5(F      BC$DE(FA  !8Oq$$$ @   "`^    # BC$DE(F  !8Oq$$$ @   "`\  8     V   C "` +\ .  S "` \ /  S "``\ 0  S "`\ 1  S "`\ 2  S 33"`{\ 3  S "`h\ 4  S "`O\ 5  S "`7]\ 6  S "`#p~HB 8  C   HB 9  C   HB :  C  % %HB ;  C  R RHB <  C |HB =  C ||HB >  C ddHB ?  C OOHB @  C 77HB A  C ##HB B  C   HB C  C HB D  C HB E  C t   6æ"` ^z   <p"`     6p^ [ C  ZNew-York F  H   0޽h ? ffff33Gy___PPT10Y+D='  = @B +H 0 P8(  d  c $   *   s **   *  " H  09g ? ̙33T 0 d,(  d^ d S By    d c $d     " H d 09g ? 3380___PPT10.ZFr]( 0  08(  0d 0 c $By    0 s *0     " H 0 09g ? 3380___PPT10.ZFr]( 0 0 <8(  <d < c $By    < s *     " H < 09g ? 3380___PPT10.ZFr]( 0 P D8(  Dd D c $By    D s *T     " H D 09g ? 3380___PPT10.ZFr]( 0 p L8(  Ld L c $By    L s *     " H L 09g ? 3380___PPT10.ZFr]( 0  T8(  Td T c $By    T s *x     " H T 09g ? 3380___PPT10.ZFr]( 0  \8(  \d \ c $By    \ s *H     " H \ 09g ? 3380___PPT10.ZFr]0 0  d@(  dd d c $By    d s *     *   H d 09g ? 3380___PPT10.Yc0 0 ` @(  d  c $By     s *     *   H  09g ? 3380___PPT10.Yc 0  T8(  Td T c $By    T s *0  ;   " H T 09g ? ̙33 0  \8(  \d \ c $By    \ s *  ;   " H \ 09g ? ̙33 0  d8(  dd d c $By    d s *%  ;   " H d 09g ? ̙33 0 t8(  td t c $By    t s *+  ;   " H t 09g ? ̙33$ 0 0|4(  |d | c $By    | s *0      H | 09g ? 3380___PPT10.+Zt 0 p8(  d  c $By     s *6     " H  09g ? 33 0 8(  d  c $By     s *<     " H  09g ? 33$ 0 4(  d  c $By     s *@      H  09g ? 3380___PPT10.^0dV_ 0 o(  d  c $By     s *hF     Y . $  H  09g ? 3380___PPT10.YJ$ 0 4(  d  c $By     s *N      H  09g ? 3380___PPT10.^0T$ 0 04(  d  c $Bx     s *S      H  09g ? 3380___PPT10.^W0 0 p@(  d  c $By     s *Y     *   H  09g ? 3380___PPT10.Yc_ 0 o(  d  c $By     s *T     Y . $  H  09g ? 3380___PPT10.YJ_ 0 o(  d  c $By     s *e     Y . $  H  09g ? 3380___PPT10.YJr 0     (   d   c $Cx       s *(m     l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en GFCI-6 8 >?@>A 035=BAB20 Bloomberg. (5=L465=L =5 2:;NG0;AO =8 2 >48= 87 ?@54K4CI8E @M=:8=3>2 Z/Yen. 2B>@K 8AA;54>20=8O >1JOA=ONB 7=0G8B5;L=K9 ?@>3@5AA 0780BA:8E F5=B@>2 8 (5=L465=O, 2 G0AB=>AB8, >ICB8<> 2>7@>AH59 0:B82=>ABLN @5A?>=45=B>2 87 788. 5:>@@5:B=0O B@0:B>2:0 40==KE ?>OA=O5BAO =0 A;54CNI5< A;0945. Shenzhen was flagged up in GFCI 5 as a centre that was being highly rated, albeit by too few respondents (25) to be included in the model. In GFCI 6, Shenzhen is included in the rankings for the first time, as the highest new entry, in 5th position. n      &  J   H   09g ? 3380___PPT10.lH_ 0 o(  d  c $By     s *`     Y . $  H  09g ? 3380___PPT10.YJN 0   ^ (  d  c $Cx      s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en GFCI-6 8 >?@>A 035=BAB20 Bloomberg. (5=L465=L =5 2:;NG0;AO =8 2 >48= 87 ?@54K4CI8E @M=:8=3>2 Z/Yen. 2B>@K 8AA;54>20=8O >1JOA=ONB 7=0G8B5;L=K9 ?@>3@5AA 0780BA:8E F5=B@>2 8 (5=L465=O, 2 G0AB=>AB8, >ICB8<> 2>7@>AH59 0:B82=>ABLN @5A?>=45=B>2 87 788. 5:>@@5:B=0O B@0:B>2:0 40==KE ?>OA=O5BAO =0 A;54CNI5< A;0945. Shenzhen was flagged up in GFCI 5 as a centre that was being highly rated, albeit by too few respondents (25) to be included in the model. In GFCI 6, Shenzhen is included in the rankings for the first time, as the highest new entry, in 5th position. J      &  J  H  09g ? 3380___PPT10.lH0 0 0$@(  $d $ c $By    $ s *     *   H $ 09g ? 3380___PPT10.]Z,Y 0 P,(  ,d , c $By    , s *`  ;   k The size of the domestic market is constructed by taking the natural log of the sum of the gross domestic product valued at PPP plus the total value (PPP estimates) of imports of goods and services, minus the total value (PPP estimates) of exports of goods and services. Data are then normalized on a 1-to-7 scale. PPP estimates of imports and exports are obtained by taking the product of exports as a percentage of GDP and GDP valued at PPP. The underlying data are reported in the Data Tables section (see tables 10.03, 10.04, and 10.05). The size of the foreign market is estimated as the natural log of the total value (PPP estimates) of exports of goods and services, normalized on a 1-to-7 scale. PPP estimates of exports are obtained by taking the product of exports as a percentage of GDP and GDP valued at PPP. The underlying data are reported in the Data Tables. l H , 09g ? ̙33rH w1Ah$0puc}e Ʉg1ilT1nKapr! t/ #vY0B@nM] h01y!{}l v "P7#m4C]!@c ) hϧ%1j]H~ 1Oh+'0 hp   1Ancho 1989Microsoft PowerPoint@Pda"_@@@pivGhg  ,V'&" WMFC <8@>2  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"/Root EntrydO)PicturesCurrent UserSummaryInformation(PowerPoint Document(\2DocumentSummaryInformation8