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China's capital account liberalisation: international perspective

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  • Bank for International Settlements

Abstract

This volume collects the papers presented at the joint BIS/SAFE seminar on Capital account liberalisation in China: international perspectives, held on 12-13 September 2002 in Beijing, China. Seminar participants from outside China were mostly experienced practitioners and policymakers from 13 economies across four continents. Chinese participants consisted mainly of staff from the State Administration of Foreign Exchange, the People's Bank of China and the Chinese Academy of Social Sciences. The main aim of the seminar was to draw on the diverse international experiences in managing cross-border capital flows and to shed light on how China should proceed to implement capital account liberalisation in the years ahead, following its recent historic entry into the WTO. The present collection includes 16 seminar papers, which are organised under the following six topics: Overview Japanese experience Bank-related capital flows Corporate and non-bank flows Equity portfolio flows Offshore banknote flows Our introduction should be read in close conjunction with the welcome speech by SAFE Deputy Director General Ma Delun and with the SAFE summary chapter by Wang Yungui and Xie Yuelan, which follow immediately.

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  • Bank for International Settlements, 2003. "China's capital account liberalisation: international perspective," BIS Papers, Bank for International Settlements, number 15.
    • Handle: RePEc:bis:bisbps:15
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    References listed on IDEAS

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    1. Brian M. Doyle, 2000. "\"Here, dollars, dollars ...\"estimating currency demand and worldwide currency substitution," International Finance Discussion Papers 657, Board of Governors of the Federal Reserve System (U.S.).
    2. Kenneth S. Chan, 2001. "Currency Substitution between Hong Kong Dollar and Renminbi in South China," Working Papers 022001, Hong Kong Institute for Monetary Research.
    3. Kenneth Rogoff, 1998. "Blessing or curse? Foreign and underground demand for euro notes," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 13(26), pages 262-303.
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    Cited by:

    1. Forssbaeck, Jens & Oxelheim, Lars, 2007. "The transition to market-based monetary policy: What can China learn from the European experience?," Journal of Asian Economics, Elsevier, vol. 18(2), pages 257-283, April.
    2. World Bank, 2006. "Foreign Capital Utilization in China : Prospects and Future Strategy," World Bank Publications - Reports 19623, The World Bank Group.

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