Financial Reform in China: The Way from Extraction to Inclusion (Routledge Studies in the Modern World Economy) - Softcover

Zhao, Changwen

Softcover

ISBN 10: 0367374870 ISBN 13: 9780367374877

Publisher: Routledge, 2019

Synopsis

This book focuses on the importance for China to correct the present imbalance in the relationship between the financial sector and the real economy.

The book looks at China’s current financial system in terms of "extractive" and "inclusive". It asserts that the financial sector is producing huge "siphonic effects" that distort the overall development of the Chinese economy. Like a giant magnet, the financial sector attracts too many innovation factors, such as talents, capital and entrepreneurship away from the real economy and inhibits the development of the latter. Hence, the book argues that China’s financial system must now be thoroughly reformed to become an inclusive financial system, where finance and the rest of the economy can co-exist and develop in support of each other.

About this title

About the Author

Changwen Zhao is Research Fellow and Director-General of the Research Department of Industrial Economy of the Development Research Center of the State Council (DRC), China.

Hongming Zhu is Associate Research Fellow in the Financial Research Institute, Development Research Center of the State Council (DRC), China.

Edition details

• Publisher: Routledge
• Publication date: 2019
• Language: English
• ISBN 10: 0367374870
• ISBN 13: 9780367374877
• Binding: Paperback
• Edition number: 1
• Number of pages: 200