Restructuring Government–Market Relation — Superstructuralism

Haiqing Deng and Xi Chen

Chapter 2 in Reforging the Central Bank:The Top-Level Design of the Chinese Financial System in the New Normal, 2016, pp 41-54 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Government–market relation is essential to the deepening of economic system reform. The 14th National Congress of the CPC announced the decision of “letting the market play a basic role in allocating resources under socialist state macro control.” After that, documents of several important meetings all kept this rhetoric. In “Decision of the CCCPC on Some Major Issues Concerning Comprehensively Deepening the Reform” published after the 3rd Plenary Session of the 18th CPC Central Committee, the notion of “market playing a decisive role in resource allocation” was brought up for the first time. The change from “basic” to “decisive” is a fundamental one.

Keywords: Central Bank; Chinese Financial System; Monetary Policy; Interest Rate Liberalization; RMB; Yuan (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2016
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