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Reform of Financial System

In: China’s Reform: History, Logic, and Future

Author

Listed:
  • Guoqiang Tian

    (Texas A&M University)

  • Xudong Chen

    (Shanghai University of Finance and Economics)

Abstract

The main problem is that China’s financial market is under excessive government regulation and operates as a state-owned monopoly with strong access barriers. This distorts financial resource allocation, makes it difficult and expensive to finance medium-sized and small private enterprises, and leads to industrial hollowing-out. It is thus imperative to intensify China’s reform and opening-up.

Suggested Citation

  • Guoqiang Tian & Xudong Chen, 2022. "Reform of Financial System," Springer Books, in: China’s Reform: History, Logic, and Future, chapter 0, pages 325-339, Springer.
  • Handle: RePEc:spr:sprchp:978-981-19-5470-2_24
    DOI: 10.1007/978-981-19-5470-2_24
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