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Restructuring Government–Market Relation — Superstructuralism

In: Reforging the Central Bank The Top-Level Design of the Chinese Financial System in the New Normal

Author

Listed:
  • Haiqing DENG
  • Xi CHEN

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.

Suggested Citation

  • Haiqing DENG & Xi CHEN, 2016. "Restructuring Government–Market Relation — Superstructuralism," World Scientific Book Chapters, in: Reforging the Central Bank The Top-Level Design of the Chinese Financial System in the New Normal, chapter 2, pages 41-54, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814704809_0002
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    More about this item

    Keywords

    Central Bank; Chinese Financial System; Monetary Policy; Interest Rate Liberalization; RMB; Yuan;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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