The Handbook of China's Financial System

Marlene Amstad; Guofeng Sun; Wei Xiong

Published by Princeton University Press 2020

The Handbook of China's Financial System

Marlene Amstad , Guofeng Sun and Wei Xiong
Preface by: Darrell Duffie

https://doi.org/10.1515/9780691205847

Overview
Contents

About this book

A comprehensive, in-depth, and authoritative guide to China's financial system

The Chinese economy is one of the most important in the world, and its success is driven in large part by its financial system. Though closely scrutinized, this system is poorly understood and vastly different than those in the West. The Handbook of China’s Financial System will serve as a standard reference guide and invaluable resource to the workings of this critical institution.

The handbook looks in depth at the central aspects of the system, including banking, bonds, the stock market, asset management, the pension system, and financial technology. Each chapter is written by leading experts in the field, and the contributors represent a unique mix of scholars and policymakers, many with firsthand knowledge of setting and carrying out Chinese financial policy. The first authoritative volume on China’s financial system, this handbook sheds new light on how it developed, how it works, and the prospects and direction of significant reforms to come.

Contributors include Franklin Allen, Marlene Amstad, Kaiji Chen, Tuo Deng, Hanming Fang, Jin Feng, Tingting Ge, Kai Guo, Zhiguo He, Yiping Huang, Zhaojun Huang, Ningxin Jiang, Wenxi Jiang, Chang Liu, Jun Ma, Yanliang Mao, Fan Qi, Jun Qian, Chenyu Shan, Guofeng Sun, Xuan Tian, Chu Wang, Cong Wang, Tao Wang, Wei Xiong, Yi Xiong, Tao Zha, Bohui Zhang, Tianyu Zhang, Zhiwei Zhang, Ye Zhao, Julie Lei Zhu, and Ning Zhu.

Author / Editor information

Marlene Amstad is professor of practice in economics and finance at the Chinese University of Hong Kong, Shenzhen, and codirector of the Fintech Centre at the Shenzhen Finance Institute. She is the coeditor of Central Bank Digital Currency and Fintech in Asia. Guofeng Sun is director general of the Monetary Policy Department of the People’s Bank of China. He is the author of Reforms in China's Monetary Policy and Financial Reforms in Modern China. Wei Xiong is the Trumbull-Adams Professor of Finance and professor of economics at Princeton University. He is also academic dean of the School of Management and Economics at the Chinese University of Hong Kong, Shenzhen.

Reviews

"Missing in many descriptions of China’s development story are details about its financial sector. This handbook remedies the gap with authoritative pieces on all aspects of China’s financial system by foremost experts in the field. It is essential reading for anyone who wants to understand the role China’s financial system has played in the nation’s growth, and how the system is being transformed to cater to China’s needs."—Raghuram Rajan, University of Chicago Booth School of Business and former chief economist of the IMF

Topics

Frontmatter Publicly Available Download PDF	i
CONTENTS Publicly Available Download PDF	v
Foreword Darrell Duffie Publicly Available Download PDF	vii
Introduction Marlene Amstad, Guofeng Sun and Wei Xiong Requires Authentication Unlicensed Licensed Download PDF	1
PART 1. BANKING AND MONETARY POLICY
1. Banking Institutions and Banking Regulations Guofeng Sun Requires Authentication Unlicensed Licensed Download PDF	9
2. Monetary Policy Framework and Transmission Mechanisms Yiping Huang, Tingting Ge and Chu Wang Requires Authentication Unlicensed Licensed Download PDF	38
3. Monetary Policy Instruments Tao Wang Requires Authentication Unlicensed Licensed Download PDF	63
4. China’s Interest Rate Liberalization Jun Ma and Xiaobei He Requires Authentication Unlicensed Licensed Download PDF	87
PART 2. BOND AND MONEY MARKETS
5. Chinese Bond Markets and Interbank Market Marlene Amstad and Zhiguo He Requires Authentication Unlicensed Licensed Download PDF	105
PART 3. FINANCIAL SYSTEM AND THE REAL ECONOMY
6. Macroeconomic Effects of China’s Financial Policies Kaiji Chen and Tao Zha Requires Authentication Unlicensed Licensed Download PDF	151
7. China’s Real Estate Market Chang Liu and Wei Xiong Requires Authentication Unlicensed Licensed Download PDF	183
8. Infrastructure Financing Zhiwei Zhang and Yi Xiong Requires Authentication Unlicensed Licensed Download PDF	208
PART 4. ONGOING REFORMS
9. RMB Internationalization: Past, Present, and Prospect Kai Guo, Ningxin Jiang, Fan Qi and Yue Zhao Requires Authentication Unlicensed Licensed Download PDF	229
10. China’s Capital Account Liberalization: A Ruby Jubilee and Beyond Yanliang Miao and Tuo Deng Requires Authentication Unlicensed Licensed Download PDF	252
PART 5. STOCK MARKET
11. The Development of the Chinese Stock Market Franklin Allen, Jun Qian, Chenyu Shan and Julie Lei Zhu Requires Authentication Unlicensed Licensed Download PDF	283
12. Corporate Governance in China Cong Wang Requires Authentication Unlicensed Licensed Download PDF	314
13. The Accounting System in China Tianyu Zhang Requires Authentication Unlicensed Licensed Download PDF	335
PART 6. ASSET MANAGEMENT
14. Investment Funds in China Wenxi Jiang Requires Authentication Unlicensed Licensed Download PDF	359
15. China’s Venture Capital Market Zhaojun Huang and Xuan Tian Requires Authentication Unlicensed Licensed Download PDF	383
PART 7. PENSION SYSTEM
16. The Chinese Pension System Hanming Fang and Jin Feng Requires Authentication Unlicensed Licensed Download PDF	421
PART 8. NEW DEVELOPMENTS
17. Fintech Development Bohui Zhang Requires Authentication Unlicensed Licensed Download PDF	447
Editors and Contributors Requires Authentication Unlicensed Licensed Download PDF	477
Index Requires Authentication Unlicensed Licensed Download PDF	483