Contradictions in China's Financial Reforms: The Relationship between Banks and Enterprises

Paul Bowles and Gordon White

Cambridge Journal of Economics, 1989, vol. 13, issue 4, 481-95

Abstract: This paper investigates the effects of the reforms in China's financial sector on enterprise performance. Particular attention is paid to the effect of the increased role played by banks as a result of the major reorganization of the banking system which occurred in 1984. It is argued that, although China's banks now possess considerable power to discriminate between enterprises in the allocation of credit, in practice this power is seldom used and enterprises have not been subjected to significantly increased financial discipline as a result of the reforms. The reasons for this are discussed and the prospects for further reform assessed. Copyright 1989 by Oxford University Press.

Date: 1989
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