Private Finance in Modern China

Kaixiang Peng

Chapter 4 in The New Chinese Economy, 2012, pp 71-92 from Palgrave Macmillan

Abstract: Abstract Modern China is a paradigmatic example of an extremely controlled financial system, which has led to the development of an informal and distorted private finance sector. In recent years, researchers have begun to discuss the necessity of private finance in China. Although private financial institutions have benefited from a slight and gradual relaxation in regulation, private finance is mostly still informal or underground. Paradoxically, private finance has played an important role in financing the high ratio of investment that characterizes China’s fast pace of economic growth. It is therefore important to understand private finance’s relationship with the formal finance system.

Keywords: Interest Rate; Bank Rate; Private Finance; Private Loan; Positive Interest Rate (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-01204-3_4

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DOI: 10.1057/9781137012043_4

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