Financial Reform and Economic Development in ChinaChina's prospects of successfully completing the transition to a market economy and becoming the world's largest economy during the 21st Century depend on the future sustainability of high rates of economic growth. |
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Contents
Introduction | 1 |
Domestic financial liberalization and financial depth in China | 8 |
The performance of Chinas stateowned industrial enterprises | 32 |
The performance of Chinas stateowned banks | 46 |
Nonbank financial institutions and economic development in China | 63 |
Stock markets and economic development in China | 79 |
External financial liberalization in China | 98 |
Conclusion | 124 |
Appendix | 133 |
References | 139 |
Index | 153 |
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Common terms and phrases
abroad ACFB ACFERT asset-liability management Bank of China banking system calculated capital flight central government Chai chapter China's financial China's stock markets Chinese column commercial banks controls corporate governance debt deposits developing countries development in China domestic economic development economic growth estimated example factors financial depth financial institutions financial liberalization financial reform financial repression financial sector financial system fiscal fixed assets fixed investment foreign borrowing Girardin impact internal efficiency International Monetary Fund issues Jefferson Lardy lending listed companies listed firms loans macroeconomic market economy ment million NBFIs nomic non-state sector noted NPLs output ownership performance price index productivity profitability ratio RCCs reform in China reform period result savings shareholding shares SOBS SOES SOIES solvency state-owned banks Statistical stock market development theoretical TICs transitional economies Trust and Investment UCCs variables various World Bank
Popular passages
Page 50 - ... the stipulations by the People's Bank of China. Article 33 A commercial bank shall guarantee the payment of the principal and interests of every deposit and shall not delay or refuse the payment thereof. Chapter IV Basic Principles for Loans and Other Businesses Article 34 A commercial bank shall conduct its loan business in accordance with the need for the development of the national economy and social progress and under the guidance of the state industrial policy.
Page 46 - Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC). Bank of China (BoC).
Page 149 - Japan," in T. Ito and A. Krueger (eds.) Financial Deregulation and Integration in East Asia, University of Chicago Press. Krugman, P., 1998, "Its Back: Japan's Slump and the Return of the Liquidity Trap," Brookings Papers on Economic Activity, No.
Page 140 - Of Finance and Development: Neglected and Unsettled Questions", World Development, 20(1), 133-142.
Page 58 - ... ranks amongst the 100 largest banks in Europe and this is a consolidated financial group. 6. Direct government subsidies to loss making SOEs were relatively stable throughout the 1980s and 1990s, ranging between RMB33 billion and RMB60 billion per year (Perkins, 1999). 7. Loans overdue were defined as loans not repaid when due or not repaid after the due date has been extended.
Page 50 - ... persons have made investment or assumed senior managerial positions. Article 41 No organization or individual may force a commercial bank to extend a loan or provide guarantee for a loan. A commercial bank shall have the right to refuse any organization's or individual's demand for a loan or guarantee. A commercial bank owned solely by the state should provide loans for special projects approved by the State Council.