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.

Inhalt
List of Tables - List of Figures - List of Diagrams - Preface - List of Acronyms - Introduction - Socialist Financial System: 1949-1978 - Financial Development and Liberalisation: the Chinese Experience - Financial Deepening: Financial Assets - Financial Deepening: Financial Market Development - Monetary Policy and Macroeconomic Stability - Summary and Conclusion - Notes - Bibliography