Occasional Papers

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

Author/Editor:

Marc G Quintyn ; Bernard J Laurens ; Hassanali Mehran ; Tom Nordman

Publication Date:

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.

Series:

Occasional Paper No. 1996/006

Subject:

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