Global Financial Changes and China’s Monetary Policy in the New Era

Liu Weiping ()
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Liu Weiping: China Development Bank

Chapter Chapter 12 in American Monetary Policy Adjustment and Its Impacts, 2023, pp 361-402 from Springer

Abstract: Abstract The financial system is an important part of the socialist market economy system. Since the launch of reform and opening-up, China has gradually established and improved its socialist market economy system, basically established a financial system that meets the requirements of the market economy, and continuously improved its financial macro-control and financial regulatory systems. Financial resources are core resources in a modern economy, and the market should play a decisive role in the allocation of resources. We should improve the financial institution system in which there is a reasonable division of labor and complementarity between commercial finance, development finance, policy-based finance, and cooperative finance. We should build a multi-layered, extensive and differentiated banking institution system. We should promote the rapid and steady growth of a number of Chinese financial institutions that are internationally competitive and have the power to allocate financial resources across borders. We should rely on cooperative economic organizations to guide the healthy development of cooperative finance and form an extensive, sustainable and complementary organizational system. We should improve the quality of services provided by financial institutions and reduce financing costs for enterprises. We should improve the system for managing state-owned financial capital and increase the vitality, control and influence of state-owned financial assets.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-7810-6_12

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DOI: 10.1007/978-981-99-7810-6_12

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