Structure And Changes Of China S Financial System

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Structure and Changes of China’s Financial System

Jie Zhang
Structure and Changes of China s Financial System Book PDF

Author : Jie Zhang
Publisher : Routledge
Page : 157 pages
File Size : 43,9 Mb
Release : 2018-05-11
Category : Business & Economics
ISBN : 9781317479925

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Structure and Changes of China’s Financial System by Jie Zhang Pdf

By virtue of several theoretical models and hypotheses, this book is one of the earliest studies which systematically investigates the structure and changes of China’s financial institutions. To begin with, it examines the relation between state utility function and China’s economic growth, and reveals the formation and transition of China’s state-owned financial institutional arrangements. Based on this analysis, the author studies the influence of monetization on the arrangements, and the financial support to China’s gradual reform which have long been neglected by researchers. Also, the model of money demand that can explain the specific conditions of the gradual reform is built, as the neoclassical framework has been incapable of explaining China’s financial performance. In the last chapter, it discusses the dilemma of property rights under the state-owned financial system, with the establishment of the credit equilibrium model and the dual model of bad debts. With insightful theoretical analysis and empirical researches, this book will appeal to scholars and students in finance, economics and economic history.

Structure and Changes of Chinas Financial System

Jie Zhang
Structure and Changes of Chinas Financial System Book PDF

Author : Jie Zhang
Publisher : Unknown
Page : 128 pages
File Size : 47,6 Mb
Release : 2018
Category : China
ISBN : 1315707462

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Structure and Changes of Chinas Financial System by Jie Zhang Pdf

"By virtue of several theoretical models and hypotheses, this book is one of the earliest studies which systematically investigate the structure and changes of Chinas financial institutions. To begin with, it examines the relation between state utility function and Chinas economic growth, and reveals the formation and transition of Chinas state-owned financial institutional arrangements. Based on the analysis above, the author studies the influence of monetization on the arrangements, and the financial support to Chinas gradual reform which has long been neglected by researchers. Also, the model of money demand that can explain the specific conditions of the gradual reform is built, as the neoclassical framework has been incapable to explain Chinas financial performance. In the last chapter, it discusses the dilemma of property rights under the state-owned financial system, with the establishment of Credit Equilibrium Model and Dual Model of Bad Debts. With insightful theoretical analysis and empirical researches, this book will appeal to scholars and students in finance, economics and economic history. "--Provided by publisher.

How China Grows

James Riedel,Jing Jin,Jian Gao
How China Grows Book PDF

Author : James Riedel,Jing Jin,Jian Gao
Publisher : Princeton University Press
Page : 224 pages
File Size : 50,6 Mb
Release : 2023-06-06
Category : Business & Economics
ISBN : 9780691248066

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How China Grows by James Riedel,Jing Jin,Jian Gao Pdf

Why investment and financial reform are essential to China's continued economic well-being Although China's economy has grown spectacularly over the last twenty-five years, economists disagree about how the Chinese economy is likely to fare in the short- and long-term future. Is China's growth sustainable, or has China relied too much on investment, which is subject to diminishing returns, and not enough on technological change? The first book on the relation between investment, finance, and growth in China, How China Grows dismisses this concern. James Riedel, Jing Jin, and Jian Gao argue that investment has not only been the engine of growth, but also the main source of technological progress and structural change in China. What threatens future growth instead, the authors argue, are the weaknesses of China's financial system that undermine efficiency in investment allocation. Financial-sector reform and development are necessary, not only for sustaining long-term growth, but also for maintaining macroeconomic stability. Although it includes some technical economic analysis, How China Grows is accessible to noneconomists and will benefit anyone who is interested in development finance in general and in China's economic growth in particular—whether economists, political scientists, bankers, or business people.

People's Republic of China

International Monetary Fund
People s Republic of China Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 126 pages
File Size : 51,9 Mb
Release : 2011-11-14
Category : Business & Economics
ISBN : 9781463924546

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People's Republic of China by International Monetary Fund Pdf

This report discusses the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms in China have progressed well in moving toward a more commercially oriented financial system. Despite success and rapid growth, China’s financial sector is confronting several near-term risks, structural challenges, and policy-induced distortions. A properly composed and timely implemented set of reforms would help address these challenges. A framework to resolve weak financial institutions on a timely basis is also needed.

China’s Financial System under Transition

Xiaoping Xu
China s Financial System under Transition Book PDF

Author : Xiaoping Xu
Publisher : Palgrave Macmillan
Page : 227 pages
File Size : 46,7 Mb
Release : 2014-01-14
Category : Business & Economics
ISBN : 1349264601

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China’s Financial System under Transition by Xiaoping Xu Pdf

The transformation of China's economy has involved major changes in the financial sector. This book offers a detailed and authoritative guide to financial reform in China since 1979. Bank loans replaced budgetary grants as the most important source of funds for investment. A two-tier financial structure, consisting of a central bank and a newly created specialised commercial bank, developed. Nonbank financial institutions also mushroomed. The book outlines the process of change, compares these changes to the earlier mono-banking system, and shows the problems which remained - including the lack of a proper financial control mechanism. There is a detailed case-study of the Shanghai financial markets.

The Handbook of China's Financial System

Marlene Amstad,Guofeng Sun,Wei Xiong
The Handbook of China s Financial System Book PDF

Author : Marlene Amstad,Guofeng Sun,Wei Xiong
Publisher : Princeton University Press
Page : 504 pages
File Size : 52,7 Mb
Release : 2020-11-17
Category : Business & Economics
ISBN : 9780691205731

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The Handbook of China's Financial System by Marlene Amstad,Guofeng Sun,Wei Xiong Pdf

"The Chinese economy is now easily one of the most important and closely scrutinized economies in the world. Relatively minuscule changes in predictions of how the Chinese economy will perform can drive up or down stocks and the price of oil and other commodities. At the heart of how the Chinese economy works is its financial system-but the Chinese financial system is vastly different than most people in the West can understand. How do house prices work, for example, in a country where the very concept of property ownership is significantly different than our own? This edited volume will serve as a standard reference guide to China's financial system. With eighteen chapters, the handbook features overviews on the banking sector-the core of China's financial system and the key channel for implementing China's monetary policy-China's ongoing reforms, and the quickly growing bond and money markets, among other topics. Each chapter is written by a leading expert in the field, and as a whole the list of contributors represents an impressive mix of leading scholars and high-level policy officials, some with first-hand knowledge of setting and carrying out Chinese financial policy. The handbook will serve as the first real authoritative volume of literature in the field, and will shed extensive new light on the links between China's financial system and the real economy"--

China's Financial System Under Transition

Xiaoping Xu
China s Financial System Under Transition Book PDF

Author : Xiaoping Xu
Publisher : Unknown
Page : 227 pages
File Size : 43,7 Mb
Release : 1998
Category : Banks and banking
ISBN : 0333717848

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China's Financial System Under Transition by Xiaoping Xu Pdf

China's financial system experienced major changes in 1979-91. Bank loans replaced budgetary grants as the most important source of fund for investment. A two-tiered financial structure emerged consisting of a central bank and a system of specialised, newly created commercial banks. Nonbank financial institutions mushroomed. Money and capital markets appeared. Problems, however, remained. Specialised banks did not operate as proper profit-oriented banks. Macro-level resource allocation was controlled by credit plans. Lagged enterprise reforms and a lack of proper financial control mechanism resulted in macroeconomic imbalances. A system of indirect monetary control was not in place.

China's Financial Markets

Ming Wang,Kin Keung Lai,Jerome Yen
China s Financial Markets Book PDF

Author : Ming Wang,Kin Keung Lai,Jerome Yen
Publisher : Routledge
Page : 320 pages
File Size : 42,5 Mb
Release : 2014-05-16
Category : Business & Economics
ISBN : 9781317697923

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China's Financial Markets by Ming Wang,Kin Keung Lai,Jerome Yen Pdf

This book provides an overview of China’s financial markets and their latest developments. The book explores and discusses the difficulties in building modern financial markets that are compatible with an increasingly complicated market economy and examines the various strategies to reform China’s financial system. It covers a range of topics: China’s financial structure, financial regulation, financial repression and liberalization, monetary policy and the People's Bank of China, banking reforms, exchange rate policy, capital control and capital-account liberalization, and development of the stock markets. The book provides a basic understanding of the current issues related to the development of China’s financial markets. It enhances knowledge of China’s regulatory framework which has helped to shape China’s financial landscape. It provides specific, useful knowledge about investment in China, such as, market sense, to identify the investment opportunities in various asset classes.

China's Financial System

William Byrd
China s Financial System Book PDF

Author : William Byrd
Publisher : Routledge
Page : 140 pages
File Size : 47,8 Mb
Release : 2019-08-20
Category : Business & Economics
ISBN : 9780429716966

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China's Financial System by William Byrd Pdf

Strengthening the banking system and expanding its role in resource mobilization and allocation have been key components of recent economic reform policies in the People's Republic of China. This study of China's financial system focuses on new policies and reforms undertaken since 1976, including institutional restoration, proliferation, and decen

Enter the Dragon

Domenico Lombardi,Hongying Wang
Enter the Dragon Book PDF

Author : Domenico Lombardi,Hongying Wang
Publisher : McGill-Queen's Press - MQUP
Page : 442 pages
File Size : 49,9 Mb
Release : 2016-10-17
Category : Political Science
ISBN : 9781928096467

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Enter the Dragon by Domenico Lombardi,Hongying Wang Pdf

China has experienced a remarkable transformation since the 1990s. It now boasts the second-largest — some would argue the largest — economy in the world, having evolved from a closed economy into the leading goods-trading nation. China’s economic rise has given it increasing prominence in international monetary and financial governance, but it also exposes China to new risks associated with its integration into the global financial system. Drawing insights from economics and political science, Enter the Dragon: China in the International Financial System takes a broad conceptual approach and tackles the questions that accompany China’s ascendance in international finance: What are the motivations and consequences of China’s effort to internationalize the renminbi? What is the political logic underlying China’s foreign financial policy? What forces have shaped China’s preferences and capacities in global financial governance? Enter the Dragon contributes to the ongoing debate over China’s political interests, its agenda for economic and financial cooperation, and the domestic and international implications of its economic rise. Bringing together experts from both inside and outside of China, this volume argues that China’s rise in the international financial system is a highly complex and political process, and can only be understood by incorporating analysis of domestic and international political economy.

Shadow Banking in China

Andrew Sheng,Ng Chow Soon
Shadow Banking in China Book PDF

Author : Andrew Sheng,Ng Chow Soon
Publisher : John Wiley & Sons
Page : 288 pages
File Size : 40,7 Mb
Release : 2016-07-12
Category : Business & Economics
ISBN : 9781119266327

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Shadow Banking in China by Andrew Sheng,Ng Chow Soon Pdf

An authoritative guide to the rise of Chinese shadow banking and its systemic implications Shadow Banking in China examines this rapidly growing sector in the Chinese economy, and what it means for your investments. Written by two world-class experts in Chinese banking, including the Chief Advisor to the China Banking Regulatory Commission and former Chairman of the Securities and Futures Commission in Hong Kong, this book is unique in providing true, first-hand perspectives from authorities within the world's largest economy. There is little widely-available information on China's shadow banking developments, and much of it is rife with disparate data, inaccuracies and overblown risks due to definitional and measurement differences. This book clears the confusion by supplying accurate information, on-the-ground context and invaluable national balance sheet analysis you won't find anywhere else. Shadow banking has grown to be a key source of credit in China, and a major component of the economy. This book serves as a primer for analysts and investors seeking real, useful information about the sector to better inform investment decisions. Discover what's driving the growth of shadow banking in China Learn the truth about both real and inflated risks Dig into popular rhetoric and clarify common misconceptions Access valuable data previously not published in English Despite shadow banking's critical influence on the Chinese economy, there have been very few official studies and even fewer books written on the subject. Understanding China's present-day economy and forecasting its future requires an in-depth understanding of shadow banking and its inter-relationship with the banking system and other sectors. Shadow Banking in China provides authoritative reference that will prove valuable to anyone with financial interests in China.

China's Financial Transition at a Crossroads

Charles W. Calomiris
China s Financial Transition at a Crossroads Book PDF

Author : Charles W. Calomiris
Publisher : Columbia University Press
Page : 433 pages
File Size : 49,8 Mb
Release : 2007
Category : Business & Economics
ISBN : 9780231141925

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China's Financial Transition at a Crossroads by Charles W. Calomiris Pdf

China's increasing role in global economic affairs has placed the country at a crossroads: how many and what types of international capital-market transactions will China permit? How will China's financial system change internally? What kind of relationships will the Chinese government develop with foreign financial institutions, especially with those based in the United States? Can China broker a sustainable partnership with America that will avoid sending economic shock waves throughout the world? Drawing on the contemporary research of prominent international scholars, the experts in this volume outline the trajectory of China's financial markets since the advent of reform and anticipate their uncertain future. Chapter authors and commentators include Geert Bekaert, Loren Brandt, Lee Branstetter, Mary Wadsworth Darby, Michael DeStefano, Barry Eichengreen, Campbell Harvey, Fred Hu, Xiaobo Lu, Christian Lundblad, Ailsa Roell, Daniel Rosen, Shang-Jin Wei, Jialin Yu, and Xiaodong Zhu. The book begins with an overview of the history of financial-sector development, regulation, and performance and then focuses on the banking sector, discussing the progress, challenges, and prospects of current sector reform. Subsequent chapters describe the role of foreign capital in China's development and analyze the changes in capital flows and controls over time; explore various explanations for China's composition of foreign-capital and foreign-exchange policies, particularly the factors shaping China's reliance on foreign direct investment; and provide an international, comparative perspective on the remarkable growth experience of China and the contribution of its institutional environment to that experience. Contributors dispute the belief that stock market listing has done little to reform state-owned enterprises and take a hard look at the exchange rate regime choice for China, considering the potential long-run desirability of flexibility and the appropriate sequencing of reforms in foreign-exchange policy, domestic banking reform, and capital-market openness. The book concludes with a roundtable discussion in which prominent economists, including Peter Garber, Robert Hodrick, John Makin, David Malpass, Frederic Mishkin, and Eswar Prasad, debate the pace of the appreciation of China's currency and the likely consequences of that policy within and outside of China.

Transformation of China's Modern Banking System

Rixu Lan
Transformation of China s Modern Banking System Book PDF

Author : Rixu Lan
Publisher : Unknown
Page : 0 pages
File Size : 47,6 Mb
Release : 2015
Category : Bank management
ISBN : 1623200903

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Transformation of China's Modern Banking System by Rixu Lan Pdf

The product of more than 10 years of research, Transformation of China's Modern Banking System provides a detailed study of the evolution of China's banking system from the late Qing era to the Republican era. Transformation of China's Modern Banking System offers a unique and comprehensive analysis of the financing structure, governance structure, incentive and restraint mechanisms, and structural changes of China's modern banking system. Lan Rixu uses historical evidence to show how the transformation of the modern banking system of China reflected an acute awareness of the practical reality of modern Chinese bankers. Transformation of China's Modern Banking System details the systematic changes in China's banking system during the chaotic period when traditional China met the West. Transformation of China's Modern Banking System is a winner of the Second Financial Book Awards, the Golden Goat Awards, co-organized by China Finance, China (Guangzhou) International Finance Expo, and the Finance Affairs Office of Guangzhou.

Financial Structural Change, Liberalization and Liquidity Market Integrity in China

Francis Mulenga Muma
Financial Structural Change Liberalization and Liquidity Market Integrity in China Book PDF

Author : Francis Mulenga Muma
Publisher : GRIN Verlag
Page : 29 pages
File Size : 48,6 Mb
Release : 2012-07-31
Category : Business & Economics
ISBN : 9783656248941

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Financial Structural Change, Liberalization and Liquidity Market Integrity in China by Francis Mulenga Muma Pdf

Research Paper (undergraduate) from the year 2011 in the subject Economics - Monetary theory and policy, grade: A, Xiamen University (School of Economics), course: Economics, language: English, abstract: Money market refers to an exchange for buying and selling of financial and money market instruments where financial institutions make transactions of short-term financial instruments for short-term financing and liquidity management. China’s money market is mainly made up of interbank funding market and bond repurchase agreement market commonly referred to as repo market.Since the market-oriented economic reform in 1978, China has entered into a stage of financial deregulation and liberalization. With the growth of the national economy and change of national income structure, China’s finance has increased rapidly, which has brought a great deal of changes in the financial structure. In 1978, broad money (M2) balance was near RMB150 billion yuan. By the end of 2001, M2 balance was up to RMB16,000 billion yuan, an increase of over 100 times in the past twenty years, implying a growth rate of 5 percent a year in 20 years. However, with this financial development and deepening, China needs to liberalize the financial market further and let the liquidity conditions reflect the market realities and integrity. Some scholars argue that China’s financial liberalization remains incomplete as the behavior of short-term market-determined interest rates is influenced by regulated rates. This paper argues that to have integrity of the market China should further liberalize its retail interest rates to allow all interest rates to better reflect liquidity conditions and the scarcity of capital. China has taken important steps to liberalize its interest rates. Short-term interbank interest rates were liberalized initially, financial and treasury bond yields were liberalized soon after, followed later by the liberalization of the corporate fixed income market. The creation of the short-term financing bond in 2005 and medium-term financing note in 2008, with unregulated interest rates and liberal issuance criteria, were major advances in the development of the corporate financing market. In 2007, seeking to make interest rates better reflect market conditions and create a more stable benchmark yield curve at longer maturities, the Chinese authorities also launched the Shanghai Interbank Offered Rate (SHIBOR) benchmark rate system.In so doing we hope this will reflect a better and genuine financial Liberalization with integrity of the market that is more aspiring and creates market confidence. Keywords: Financial Liberalization, Integrity of the Market.

The Chinese Yuan

Peter G. Zhang
The Chinese Yuan Book PDF

Author : Peter G. Zhang
Publisher : John Wiley & Sons
Page : 242 pages
File Size : 47,8 Mb
Release : 2011-02-15
Category : Business & Economics
ISBN : 9780470827406

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The Chinese Yuan by Peter G. Zhang Pdf

Few topics have attracted as much attention worldwide in recent years as the RMB. These debates have gained added urgency in light of the financial crisis and the topic of RMB revaluation is now being actively debated in countries all over the world from Tunisia to the United States. This book explores the ever-changing role of the RMB and the related derivative products. However, it does so from a view that is heavily influenced by the fallout from the financial crisis as well as the in the context of the increasing maturity of the Chinese capital markets. The author has drawn on his experience as a regulator to provide invaluable views, insights and information on RMB derivative products and the development of this market going forward. Key topics include: Overview of current China economy and its capital market In-depth analysis on the China's banking system and foreign exchange system Extensive analysis of on-shore and off-shore financial products in China Explanation of the needs and reasons for RMB products innovation Insights into the internationalization of the RMB Not only will this book leave its readers with a much clearer idea of the structure of China's capital markets but it also gives insights on the market going forward leveraged through Peter Zhang's many years of experience as both a senior banker and through his integral role in the key regulatory authority of the banking sector, the CBRC.