Abstract
The Chinese government has learned from the financial crisis that preventing and managing systemic risk is the core maintaining the stability of the financial system. Thus, China has begun to focus efforts on improving financial system reforms and the financial regulatory system, especially the establishment and launch of the macroprudential framework. The Twelfth Five-year Plan clearly proposes establishing a macroprudential management framework, which will be a wide-ranging framework and institutional reform of far-reaching impact. It will also be an institutional guarantee of financial stability in China. At the same time, the People’s Bank of China and industry regulators are working to establish the macroprudential framework and strengthen microprudential standards.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Of course, the government has also been committed to setting bank operations on the market path as soon as possible. In order to respond to global competition, the Chinese government in 1998 began to improve the capital situations of Chinese banks by injecting funds and peeling away non-performing assets. The public listings of the Big Four banks (CCB, BOC, ICBC, and ABC) signify the first steps of the Chinese banking industry on the road of market-based operations.
- 2.
Source: Zhou Xiaochuan’s comments to the “Macro-prudential Framework—East Asian Perspective” symposium held by the People’s Bank of China and IMF on October 21, 2010.
- 3.
Source: Zhou Xiaochuan (2010)
- 4.
Quoted from Reuters (2011).
- 5.
Source: CBRC (2010).
- 6.
Source: CBRC (2011).
- 7.
Source: “Zhongguo yinhangye jianguan guanli weiyuanhui 2009 nian nianbao [CBRC Annual Report 2009].”
- 8.
CIRC (2010).
- 9.
Source Chen Wenhui's comments to the CIRC and China Insurance Association's comprehensive risk management seminar-cum-training session, “Fengxian guanli ya jingu jinrong hongguan shenshen guanli he weiguan shenshen jianguan [Risk Management Must Combine Macro-prudential Management and Micro-prudential Oversight],” January 14, 2011.
References
Chinese Language Documents
China Banking Regulatory Commission (2010) Zhongguo yinhangye jianguan guanli weiyuanhui youguan fuze jieshao guoji yinhang ziben jianguan zhidu gaige youguan xingkuang [CBRC leaders introduce reforms to international bank capital oversight systems]. September 17, 2010
China Banking Regulatory Commission (2011) Zhongguo yinhangye jiandu guanli weiyuanhui 2011 nian gongzuo huiyi [CBRC 2011 work conference]. January 17, 2011
China Insurance Regulatory Commission (2010) 2010 nian baoxianye qinkuang tongbaohui [2010 insurance industry briefing]. April 12, 2010
Li Wenhong (2010) Yinhang ye jinrong hongguan shenshen guanli: silu he zhengce gangjia [Macroprudential management of the banking industry: thinking and policy framework]. Zhongguo jinrong vol 13
Liu Xia, Pu Yongjian (2009) Yinhang ziben jianguan yanjiu [Bank capital oversight]. Jingji guanli chubanshe
People’s Bank of China (2009) 2009 nian di san jidu huobi zhengce zhixing baogao [Third quarter 2009 monetary policy enforcement report]. November 11, 2009
Rao Bo, Zheng Liansheng (2009) Meiguo jinrong jianguan tixi gaige de qishi yu jiejian [Lessons and inspiration from American financial regulatory system reforms]. Shanghai jinrong vol 12
Reuters (2011) Zhongguo jinrong jianguan dangju yi dui yinhang shishi chabie cunkuan zhunbeijin [Chinese financial regulators implement differentiated deposit reserve funds for banks]. February 22, 2011
Wang Banxing (2007) Zhongguo yinhangye quanmian fengxian guanli gaijin yanjiu—jiyu ‘xin ziben xieyi’ de shijiao [Improving comprhensive risk management in the Chinese banking industry—based on the ‘New basel capital accord’ Perspective]. Fudan daxue boshi xuewei lunwen
Wang Xiaolong, Zhou Haowen (2007) Yinhang ziben jianguan yu shangye yinhang fengxian [Bank capital oversight and commercial bank risks]. Jinong luntan vol 7
Wu Jun, Tang Jijun, Zhang Zongyi (2008) Zhongguo jingji zhuangui xing qi shangye yinghang ziben yu fengxian xingwei yanjiu [Commercial bank capital and risk behavior in China’s period of economic change]. Caijing yanjiu vol 1
Zhang Zhaohui (2011) Zhongguo yinhangye jiangguan guanli weiyuanhui jiang shishi xin de shenshen jiangguan gangjia [CSRC will implement new prudential oversight framework]. Zhongguo zhengquan bao
Zhou Wen (2007) Yingxiang yinhang maoxian xingwei de yinsu [Factors affecting bank risk-taking behavior]. Caijing lilun yu shijian vol 5
Zhou Xiaochuan (2010) Jinrong zhengce dui jinrong weiji de yingxiang--hongguan shenshen zhengce gangjia de xingcheng beijing, neizai luoji he zhuyao neirong [The effect of financial policy on the financial crisis--the formation of the macroprudential framework, its intrinsic logic, and main content]. Speech to Peking University, December 15, 2010
Zhou Xiaochuan (2011) Jianli geng jia wanshan de jinrong hongguan shenshen zhengce gangjia [Building a better financial macroprudential policy framework]. Zhongguo jinrong vol 1
Zhu Jianwu (2006) Jianguan yali xia de zhongxiao yinhang ziben yu fengxian tiaozheng xingwei fenxi [Analysis of SME bank capital and risk adjustment behavior under regulatory pressure]. Dangdai caijing vol 1
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2016 Social Sciences Academic Press and Springer Science+Business Media Singapore
About this chapter
Cite this chapter
He, D. (2016). Institutional Construction (1): Financial Macroprudential Management System. In: Financial Security in China. Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-10-0969-3_8
Download citation
DOI: https://doi.org/10.1007/978-981-10-0969-3_8
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-10-0967-9
Online ISBN: 978-981-10-0969-3
eBook Packages: Economics and FinanceEconomics and Finance (R0)