Monetary and Exchange System Reforms in China: An Experiment in Gradualism

ByMarc G Quintyn, Bernard J Laurens, Hassanali Mehran, Tom Nordman

September 26, 1996

Summary

In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.

Subject: Banking, Commercial banks, Credit, Financial institutions, Financial markets, Foreign exchange, Government securities, Interbank markets, Money, Securities

Keywords: cash plan, Commercial banks, Credit, East Asia, Eastern Europe, Europe, Global, government, Government securities, Interbank markets, market, monetary policy, OP, PBC branch, PBC branch account, PBC headquarters, PBC law, People's Bank of China, Southeast Asia

Pages:
100
Volume:
1996
DOI:
https://doi.org/10.5089/9781557755629.084
Issue:
006
Series:
Occasional Paper No. 1996/006
Stock No:
S141EA0000000
ISBN:
9781557755629
ISSN:
0251-6365

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