中欧社会论坛 - China Europa Forum

Authors: Chen Yulu

Since the 1980s and the emerging international context of globalisation, the Chinese financial sector, and the commercial banking sector in particular, has undergone successive reorganisation. These reorganisations had the following results::

First, financial institutions have more room for internal manoeuvres due to changes in the following policies: less government control over interest rates; reduced state intervention in banks’ credit policies; fewer restrictions imposed on financial institutions, competition encouraged in the financial sector; the robust development of direct financing.

Second, with fewer capital and exchange rate controls, the external environment in which financial institutions operate has been increasingly liberalised. Similarly, currency — one of the main activities of financial institutions — has undergone a remarkable transformation as far as stability and its international positioning are concerned. Moreover, capital controls are less restrictive due to factors such as world imbalances and pressure to revalue the yuan.

This document in different languages

• English: ws32eng.pdf (61 KiB)
• Chinese: ws32cn.pdf (140 KiB)
• French: ws32fr.pdf (73 KiB)

Page translations:

• 全球化进程中的中国金融体系：市场化、结构平衡与稳定发展
• Le système financier chinois à l’ère de la mondialisation