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Government Controlled Financial Institutions

In: China’s Financial System

Author

Listed:
  • Dominique Rambures

    (Paris I University Panthéon Sorbonne)

  • Felipe Escobar Duenas

    (Paris I University Panthéon Sorbonne)

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?

Suggested Citation

  • Dominique Rambures & Felipe Escobar Duenas, 2017. "Government Controlled Financial Institutions," Springer Books, in: China’s Financial System, chapter 8, pages 101-129, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-40451-6_8
    DOI: 10.1007/978-3-319-40451-6_8
    as

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