Financial liberalisation in China: economic policy outlook and global implications

Lucía Cuadro-Sáez and Sonsoles Gallego
Authors registered in the RePEc Author Service: Lucía Cuadro Sáez

Economic Bulletin, 2016, issue MAY, No 3, 35-48

Abstract: Financial liberalisation in China has advanced significantly in the past three years. It has done so both domestically, with market principles weighing more on the functioning of the banking system, and externally, with the adoption of a series of measures culminating in the inclusion of the renminbi in the IMF’s Special Drawing Rights (SDR) basket, effective this October. This financial liberalisation process is a fundamental ingredient in the ongoing rebalancing of the Chinese growth model, but it also entails some short-term risks, as highlighted by the bouts of turbulence recorded last year and early in 2016. This article reviews recent headway in liberalisation and the economic policy implications in China.

Date: 2016
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