Government Controlled Financial Institutions

Dominique Rambures and Felipe Escobar Duenas
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Dominique Rambures: Paris I University Panthéon Sorbonne
Felipe Escobar Duenas: Paris I University Panthéon Sorbonne

Chapter 8 in China’s Financial System, 2017, pp 101-129 from Springer

Abstract: Abstract The emergence of financial markets is the latest step in the on-going policy of reform and opening up. The development of a financial asset market was the key prerequisite for the proper running of the other production factors’ markets: the market for goods and services as well as the labour market. But it was also the apex of the struggle between “reformists” supporting the growing implementation of market mechanisms, and “conservatives” supporting the role of the State. Economic reform is a mix of ideological postures. In fact, this typically Western-minded dichotomy is meaningless in China: most of the high-ranking Chinese Communist Party (CCP) officials are both “reformists” in the economic field and “conservatives” in the political sphere. Above all, the Chinese leaders have a very pragmatic approach: what makes the economic system work best? What are the economic reforms compatible with the Party-State’s leadership?

Keywords: Central Bank; Pension Fund; Hedge Fund; Investment Fund; Investment Bank (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-40451-6_8

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DOI: 10.1007/978-3-319-40451-6_8

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