Skip to main content
SpringerLink
Log in

Banking and Financial Sector Reforms in China: Experience and Prospects for the Future

  • Chapter
Resurgent China

  • 182 Accesses

Abstract

Since the launch of market-oriented reforms in 1979, in a range of a quarter of a century, China has successfully completed two transitions: One is the transition from a low-income under-developed economy featured by poverty and isolation to a middle-income, newly industrialized, and booming economic giant that has changed world economic landscape. The other transition is institutional: the economic system has evolved from an inward-looking, centrally planned socialist command economy to a predominantly market-based one with considerable openness to trade and foreign investment.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
eBook
USD 16.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Chinese Academy of Social Sciences (CASS). 1998. “Macro Situations, Financial Risk and External Shock”, Economics Research Journal (Jin Ji Yan Jiu), Vol. 3, pp. 3–14.

    Google Scholar 

  • Chinese Academy of Social Sciences (CASS). 1999. “Investment, Cyclic Fluctuation and Institutional Retrenchment Effect”, Economic Research Journal (Jin Ji Yan Jiu), Vol. 3, pp. 16–25.

    Google Scholar 

  • China, Banking Regulatory Commission (CBRC). 2005. “New Progress of Reform, Opening, and Regulation of China’s Banking Sector”, http://www.cbrc.gov.cn/ (accessed on December 15, 2005).

  • China, Banking Regulatory Commission (CBRC). 2006. “Regulation of China’s Banking Sector Has Made Historical Breakthrough”, http://www.cbrc.gov.cn/ (accessed on January 26, 2006).

  • China, Center for Economic Research (CCER). 2000. “China’s Financial System Reform: Retrospect and Prospect”, CCER Working Paper Series, No. C2000005.

    Google Scholar 

  • Deutsche Bank. 2001. “China’s Financial Liberalization Agenda”, Global Market Research, May 2001. Deutsche Bank.

    Google Scholar 

  • Farrell, Diana, Susan Lund, Jaeson Rosenfeld, Fabrice Morin, Niyati Gupta, and Ezra Greenberg. 2006. Putting China’s Capital to Work: The Value of Financial System Reform, San Francisco: McKinsey Global Institute.

    Google Scholar 

  • Gonzalez, Michael. 2006. Chapter 4, Informal Finance: Encouraging the Entrepreneurial Spirit in Post-Mao China, in 2006 Index of Economic Freedom, Washington, D.C.: Heritage Foundation.

    Google Scholar 

  • Goodfriend, Marvin and Eswar Prasad. 2006. A Framework for Independent Monetary Policy in China. IMF Working Paper, WP/06/111, available at www.imf.org/external/pubs/ft/wp/2006/wp06111.pdf (accessed on June 28, 2008).

  • Guo, Bin and Liu Manlu. 2002. Private Finance and Development of Small-&-Medium-Sized Enterprises: An Empirical Study on Wenzhou City. Jingji Yanjiu (Journal of Economic Research), Vol. 413, No. 10, pp. 40–46.

    Google Scholar 

  • Hale, David. 2005. China’s Banking Revolution. www.project-syndicate.org (accessed on September 1, 2005).

  • Heilmann, Sebanstian. 2002. The Chinese Stock Market: Pitfalls of a Policy-Drive Market. Working Paper, Center for East Asian and Pacific Studies, Germany: Trier University.

    Google Scholar 

  • Kwan, Chi Hung. 2004. Why China’s Investment Efficiency is Low — Financial Reforms are Lagging Behind, www.rieti.go.jp/users/kan-si-yu/ (accessed on June 18, 2004).

  • Kwan, Chi Hung. 2006. Capital Participation of Foreign Investors in China’s State-Owned Commercial Banks — A Win-Win Game. Available at www.rieti.go.jp/en/china/06021501. html (accessed on October 2, 2006)

  • Li, Bing-xiang and Dileep Mehta. 2001. “Restructuring of Chinese Banking Industry”, China & World Economy, 3, available at http://www.iwep.org.cn/ (accessed on October 2, 2006).

  • Lu, Ding, and Li Ning. 2006. China’s Capital Market Reform: Problems and Prospects, paper presented at International Conference on “China’s Surging Economy: Adjusting for More Balanced Development”, August 17–18, 2006, Singapore.

    Google Scholar 

  • Lu, Ding, Shandre M. Thangavelu and Qing Hu. 2005, “Biased Lending and Non-Performing Loans in China’s Banking Sector”, Journal of Development Studies, Vol. 41, No. 6, pp. 1071–1091.

    Article  Google Scholar 

  • Lu, Ding and Qiao Yu. 1998. “Bank Credit-Quota Plan as a Macroeconomic Policy Instrument in China: Effectiveness and Costs”, Economic Systems, Vol. 22, No. 2, pp. 147–174.

    Article  Google Scholar 

  • Mao, Jinmin. 2005. On Private Financial Market: A Survey and Analysis on the Cases of Private Finance in Shanxi Province, Jinrong Yanjiu, No. 1 available at www.cnki.com.cn/Article/CJFDTotal-JRYJ200501016.htm (accessed on June 28, 2008).

  • Mitchell, Janet. 1997. Strategic Creditor Passivity, Regulation, and Bank Bailouts. LSE/Center for Economic Performance Discussion Paper 1780, London: London School of Economics.

    Google Scholar 

  • National Bureau of Statistics of China (NBSC) various years. Statistical Communiqué of National Economic and Social Development Beijing: NBSC.

    Google Scholar 

  • National Bureau of Statistics of China. 2006a. Announcement of Adjustments to Historical Statistics of China’s GDP. January 9, 2006, available at www.stats.gov.cn (accessed on October 2, 2006).

  • National Bureau of Statistics of China. 2006b. The National Economy Kept Steady and Fast Growth in 2005. January 25, 2006, available at www.stats.gov.cn (accessed on October 2, 2006).

  • Peebles, Gavin. 1991. Money in the People’s Republic of China: A Comparative Perspective, Sydney: Allen & Unwin.

    Google Scholar 

  • Podpiera, Richard. 2006. Progress in China’s Banking Sector Reform: Has Bank Behavior Changed? IMF Working Paper, WP/06/71, available at www.imf.org/external/pubs/ft/wp/2006/wp0671.pdf (accessed on June 28, 2008).

  • Roland, Gerald. 2000. Transition and Economics: Politics, Markets, and Reforms, Cambridge, MA: The MIT Press.

    Google Scholar 

  • Sachs, Jeffery and Wing T. Woo. 2002. “China’s Economic Growth after WTO Membership”, Journal of Chinese Economic and Business Studies, Vol. 1, No. 1, pp. 1–32.

    Article  Google Scholar 

  • Sutela, Pekka. 1999. “Russia: Rise of a Dual Economy”, Transition, Vol. 10, No. 5, pp. 20–22.

    Google Scholar 

  • Setser, Brad. 2006. “The Chinese Conundrum: External Financial Strength, Domestic Financial Weakness”, Paper Produced for CESifo Conference “Understanding the Chinese Economy”, April 2006.

    Google Scholar 

  • Shi, Huaqiang. 2006. State-Owned Commercial Banks’ Non-Performing Loan Records: Re-Estimation of Its Severity: 1994–2004 (in Chinese). Jinrong Yanjiu (Finance Studies), February 2006, available at www.21our.com/readnews/757/757825.html (accessed on October 2, 2006).

  • Standard Chartered. 2001. China’s Banking System in Transition, Business Intelligence No. 6 — China, available at www.tdctrade.com/econforum(accessed on October 2, 2006).

  • Tsai, Kellee. 2001. Beyond Banks: The Local Logic of Informal Finance and Private Sector Development in China. Paper prepared for the conference on Financial Sector Reform in China, co-sponsored by the China Public Policy Program at the Kennedy School of Government, Harvard Business School, and Massachusetts Institute of Technology, Cambridge, MA, September 11–13, 2001.

    Google Scholar 

  • Walter, Carl E., and Howie, Fraser J. T. 2001. To Get Rich is Glorious: China’s Stock Markets in the 80s and 90s, London: Palgrave Press.

    Book  Google Scholar 

  • Woo, Wing Thye. 2001. “Recent Claims of China’s Economic Exceptionalism: Reflections Inspired by WTO Accession”, China Economic Review, Vol. 12, No. 2/3, pp. 107–136.

    Article  Google Scholar 

  • World Bank. 1997. China 2020, Washington, D.C.: World Bank.

    Google Scholar 

  • Xie, Ping. 1994. “On State Specialized Banks Reform”, Economic Research Journal (Jing Rong Yan Jiu), February 1994, pp. 1–8.

    Google Scholar 

  • Xie, Ping. 2001. “The Debate on the Reform of China’s Rural Credit Cooperatives System”, Journal of Financial Research (Jin Rong Yan Jiu), Vol. 1, pp. 1–13.

    Google Scholar 

  • Xu, Guoping and Lei Lu. 2001. “Incomplete Contract and Moral Hazard: China’s Financial Reform in 1990s”, Journal of Financial Research (Jin Rong Yan Jiu), Vol. 2, pp. 28–41.

    Google Scholar 

  • Zeng, Peiyan et al. eds. 1999. Report on China’s National Economic and Social Development for 1998, Beijing: China Planning Publisher.

    Google Scholar 

  • Zeng, Peiyan et al. eds. 2000. Report on China’s National Economic and Social Development for 1999, Beijing: China Planning Publisher.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. University of the Fraser Valley, Canada

    Ding Lu (Professor of Economics)

Authors
  1. Ding Lu
    View author publications

    You can also search for this author in PubMed Google Scholar

Editor information

Editors and Affiliations

  1. Development Policy Analysis Division (DPAD), Department of Economic and Social Affairs (DESA), United Nations, USA

    Nazrul Islam (Senior Economic Affairs Officer) (Senior Economic Affairs Officer)

Copyright information

© 2009 Ding Lu

About this chapter

Cite this chapter

Lu, D. (2009). Banking and Financial Sector Reforms in China: Experience and Prospects for the Future. In: Islam, N. (eds) Resurgent China. Palgrave Macmillan, London. https://doi.org/10.1057/9780230234253_10

Download citation

Publish with us

Policies and ethics

Search

Navigation