II China’s Financial Reforms Since 1978: An Overview
Author: Mr. Marc G Quintyn, Mr. Bernard J Laurens, Mr. Hassanali Mehran, and Mr. Tom Nordman1
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
OP; People's Bank of China; monetary policy; PBC branch; government; market; government securities market; interest rate liberalization; development bank; reform process; swap rate; Money markets; Financial sector development; Commercial banks; Directed credit

Abstract

Given the country’s history and size, China’s reform process thus far has been a unique experience. The transformation of China’s economy started at a much earlier date than the reform of similar economic systems of Eastern Europe and the Baltic states, Russia, and other countries of the former Soviet Union. China’s reforms have been gradual, and the starting position was very different from that of other command economies that decided to transform their systems.3 In some respects, as described in Box 2, China’s economic transformation resembles more the modernization of some East Asian economies than that of many former centrally planned economies. Table1 presents a detailed comparison of financial sector policies and development in China, Northeast Asia, and Southeast Asia.

Cited By

Within Same Series

Other IMF Content

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Cover Monetary and Exchange System Reforms in China
Monetary and Exchange System Reforms in China
An Experiment in Gradualism
Author: Mr. Marc G Quintyn, Mr. Bernard J Laurens, Mr. Hassanali Mehran, and Mr. Tom Nordman
ISBN:
9781557755629
ISSN:
0251-6365
Publication Date:
26 Sep 1996
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557755629.084
Pages:
100

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