Prospects of the Capital Market and China’s Development
The objective of this work, as stated in Chapter 1, is to examine the extent to which China’s capital market can contribute to financing development in China by looking at its performance and influential parameters and indicate implications for further development. Chapter 2 has delineated the importance of effective development for China, which needs to include broader development goals, such as welfare and quality of life, in order to allow for further advancement. Thereby, the development path has reached a crucial point, in that a number of challenges have to be resolved effectively in the near future. In this connection the historical background outlined in Chapter 2.1.2 is of particular interest for this period, namely the Song Dynasty, in which China experienced a period of stagnation, and as a result the loss of its position as one of the most sophisticated countries worldwide. Today’s international balance of power in the fields of political and economic strength would most likely look very different indeed, if China at the time of the Song Dynasty had converted its development potential into practice. Whether China’s present efforts to become a major force in the community of states on regional and global levels can in fact be realised, depends largely on the success with which it masters its current development challenges.
KeywordsCorporate Governance Capital Market Bond Market Financial Intermediary Song Dynasty
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