{
  "title": "Monetary and Exchange System Reforms in China: An Experiment in Gradualism",
  "publication": "Occasional Papers, September 26, 1996",
  "sourceUrl": "https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/monetary-and-exchange-system-reforms-in-china-an-experiment-in-gradualism-1552",
  "canonical": "https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/monetary-and-exchange-system-reforms-in-china-an-experiment-in-gradualism-1552",
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  "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.",
  "sections": [
    {
      "heading": "Overview and scope",
      "content": "- In 1978, China embarked on a gradual but far-reaching reform of its economic system.\n- The paper focuses on:\n  - achievements so far in reforming the financial sector,\n  - the legal framework for financial transactions,\n  - the payments system,\n  - the monetary policy and foreign exchange system.\n- The paper analyzes the tasks ahead to achieve the goals set in these areas for the year 2000."
    },
    {
      "heading": "Authors and publication metadata",
      "content": "- Authors: Marc G Quintyn, Bernard J Laurens, Hassanali Mehran, Tom Nordman\n- Publication date: September 26, 1996\n- Series: Occasional Paper No. 1996/006\n- Volume: 1996\n- Issue: 006\n- Pages: 100"
    },
    {
      "heading": "Key subjects and keywords",
      "content": "- Subject: Banking, Commercial banks, Credit, Financial institutions, Financial markets, Foreign exchange, Government securities, Interbank markets, Money, Securities\n- 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"
    },
    {
      "heading": "Access and formats",
      "content": "- Format citation example provided: Marc G Quintyn, Bernard J Laurens, Hassanali Mehran, and Tom Nordman. Monetary and Exchange System Reforms in China: An Experiment in Gradualism, (USA: International Monetary Fund, 1996) accessed 8/28/2026, https://doi.org/10.5089/9781557755629.084\n- DOI: https://doi.org/10.5089/9781557755629.084\n- ISBN: 9781557755629\n- ISSN: 0251-6365\n- Stock No: S141EA0000000\n- Note: IMF eLibrary offers over 25,000 IMF publications in multiple formats."
    },
    {
      "heading": "Primary analytical focus and policy orientation",
      "content": "- Achievements reviewed: reforms of the financial sector, legal framework for financial transactions, payments system, monetary policy, and foreign exchange system.\n- Forward-looking analysis: tasks required to meet reform goals by the year 2000.\n\nInternational Monetary Fund — Monetary and Exchange System Reforms in China: An Experiment in Gradualism (Occasional Paper No. 1996/006, September 26, 1996).\n\n---\n\n\nSource: https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/monetary-and-exchange-system-reforms-in-china-an-experiment-in-gradualism-1552"
    }
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    "Authors: Marc G Quintyn, Bernard J Laurens, Hassanali Mehran, Tom Nordman",
    "Published: September 26, 1996",
    "Series: Occasional Papers",
    "DOI: https://doi.org/10.5089/9781557755629.084",
    "In 1978, China embarked on a gradual but far-reaching reform of its economic system.",
    "The paper focuses on:",
    "The paper analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.",
    "Authors: Marc G Quintyn, Bernard J Laurens, Hassanali Mehran, Tom Nordman",
    "Publication date: September 26, 1996",
    "Series: Occasional Paper No. 1996/006",
    "Volume: 1996",
    "Issue: 006",
    "Pages: 100",
    "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",
    "Format citation example provided: Marc G Quintyn, Bernard J Laurens, Hassanali Mehran, and Tom Nordman. Monetary and Exchange System Reforms in China: An Experiment in Gradualism, (USA: International Monetary Fund, 1996) accessed 8/28/2026, https://doi.org/10.5089/9781557755629.084",
    "DOI: https://doi.org/10.5089/9781557755629.084",
    "ISBN: 9781557755629",
    "ISSN: 0251-6365",
    "Stock No: S141EA0000000",
    "Note: IMF eLibrary offers over 25,000 IMF publications in multiple formats.",
    "Achievements reviewed: reforms of the financial sector, legal framework for financial transactions, payments system, monetary policy, and foreign exchange system.",
    "Forward-looking analysis: tasks required to meet reform goals by the year 2000."
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