Comparative Study Of China And Togo Financial Market Investment Tools

Financial instruments are fundamental tools for financing the economy of a country. China is an economic power in full growth compared to Togo, a country which is struggling to get a place in the world of financial posed countries. Financial instruments of world powers like United States, Britain, France etc., are well known by economists and financiers. But these products are used in some countries as the economic and financial level of the latter. China and Togo have two different economic realities, so we firstly gave an overview of the financial markets of each of the two countries, followed by identification of the various financial products and the risks accrued on these markets. Finally we did a comparison of instruments used on each of the financial markets of these countries. It is clear from this work that Togo so far has not its own financial market but the one that it uses known as the regional financial market of the WAEMU has three products in the form of securities: Shares, bonds and rights while China in turn, has a wider range of products such as stocks, bonds, in addition to the derived products. In China, these products are classified into three groups of shares: A, B and H depending on whether in Shanghai, Shenzhen or Hong Kong while the WAEMU financial products are issued on the regional financial market shared by Benin, Burkina Faso, C?te d'Ivoire, Guinea, Mali, Niger, Senegal and Togo. China financial market products and those of the regional financial market of the WAEMU don't really have common characteristics except the name of some products such as Shares and Bonds. We have also noted that WAEMU hasn't yet launched in the emission of derived products while it is already in use in China. Each of these countries has its own characteristics for products issued on its financial market.In light of these observations, for a better use or trading of financial products in every market we recommend a financial cooperation China-West Africa through the creation of an investment bank. Reunification of the three financial markets of China into only one like the MFR which has full advantage. Improved information system of regional financial market of the WAEMU. A revision of the texts of the Chinese State with regard to foreign investment. A change of currency by the Member States of the WAEMU. Togo is a member country of WAEMU, it would be wiser for China to refer to the financial market of the Regional Stock Exchange Securities because it is the only market for the countries of the Union and dynamic compared to some African financial markets and Western markets.