Chapter 10. A Rapidly Changing Financial System
Author:
Ms. Naomi N Griffin
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https://orcid.org/0000-0001-5750-9383
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Mr. James P Walsh
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https://orcid.org/0000-0002-8839-5865
Language:
English
Print Publication Date:
14 Jan 2017
Keywords:
BOOK; government; China; pension; rate; local government; financial system; bank funding; City-commercial bank; fixed income; off-balance-sheet wmps; Loans; Financial statements; Nonbank financial institutions; Stock markets; Stocks; Global

Abstract

China’s historically high rate of economic growth has gone hand in hand with even faster financial sector development, and its financial system now contains the world’s largest banks, second-largest stock market, and third-largest bond market. Ten years ago the system was relatively conservative and almost completely dominated by banking, but major fiscal stimulus after the global financial crisis and an innovative and competitive financial sector have changed that picture.

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Cover Modernizing China
Modernizing China
Investing in Soft Infrastructure
ISBN:
9781513539942
Publication Date:
14 Jan 2017
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781513539942.071
Pages:
388