Structure and Changes of China's Financial System

Structure and Changes of China's Financial System

by Jie Zhang


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By virtue of several theoretical models and hypotheses, this book is one of the earliest studies which systematically investigates the structure and changes of China’s financial institutions.

To begin with, it examines the relation between state utility function and China’s economic growth, and reveals the formation and transition of China’s state-owned financial institutional arrangements. Based on this analysis, the author studies the influence of monetization on the arrangements, and the financial support to China’s gradual reform which have long been neglected by researchers. Also, the model of money demand that can explain the specific conditions of the gradual reform is built, as the neoclassical framework has been incapable of explaining China’s financial performance. In the last chapter, it discusses the dilemma of property rights under the state-owned financial system, with the establishment of the credit equilibrium model and the dual model of bad debts.

With insightful theoretical analysis and empirical researches, this book will appeal to scholars and students in finance, economics and economic history.

Product Details

ISBN-13: 9781138900141
Publisher: Taylor & Francis
Publication date: 05/02/2018
Series: China Perspectives
Pages: 160
Product dimensions: 6.25(w) x 9.25(h) x (d)

About the Author

Jie Zhang is a Professor and the Head of the International Monetary Institute, Renmin University of China. His main research interests lie in the financial institution and financial development in China.

Table of Contents

List of figures

List of tables


Chapter 1 The Institutional Structure, State and State-Owned Financial Institutional Arrangements

Chapter 2 Monetization and Financial Control by the State

Chapter 3 Financial Support to the Gradual Reform

Chapter 4 The Model of Money Demand During Transition

Chapter 5 Transitional Arrangements of the Financial System

Chapter 6 Dilemma of Property Rights under the State-Owned Financial System and the Path of Solution

Appendix Benefit and Cost of Financial Control by the State: Item Data



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