Development Oriented Finance And Economy In China

In attaining economic globalization, China needs world economy, world economy also needs China. This book outlines the foundation of an analytically oriented public finance that intends to promote sound development of China, and discusses various contemporary topics, including the impacts of the tradition, the mechanisms of economic policies and operations, the modernization perspective and international trade conflict, as well as current rural issues and the legal environment in China. The book focuses on explaining China's special phenomena, and trying to provide answers to questions on 'why'. The intent of this book is to share the knowledge and experience that author has gained from working in China and the United States of America and to serve as an intellectual bridge for global investors, economists and market watchers in general to understand China better. "This Book is the story of an economic revival unlike anything seen before. It is the story of a "Mixed Economic System" that to date has achieved remarkable economic gains. It is a story of how directed investment with a purpose which combines Government to kick start free enterprise can work. It is also a story of trial and error and practical applications of capital flows based on measured results. It is a story that accentuates the value of pragmatism and flexibility to change course instead of slavish adherence to ideology. It is also a story of how much more needs to be done to spread the economic resurgence across all segments of the population and all regions of the Country. The Book is a "must study" for graduate students in economics and finance." A. Robert Abboud, former Chairmen of the First National Bank of Chicago, Chairman of First City Bank of Texas and President of Occidental Petroleum.

Foreword -- Preface -- The logical basis of development-oriented finance -- Seizing the major contradiction in development -- Realistically exploring the solution to problems -- Cultural foundation of development-oriented finance -- Philosophical outlook on development-oriented finance -- Rational judgment of development trend and dynamics in the 21st century -- The theoretical contents of development-oriented finance -- Planning is a core competitive edge -- Building the credit market constitutes the fourth driver for economic development -- Organizational credit enhancement accelerates the construction of market credit system -- Portfolio financing, banking's efficient two-edged tool -- Perceptions on financial socialization -- The operation mechanism of development-oriented finance -- The operational mechanism : government entrance, financing process and marketing exit -- Sources of funding: financial bonds supplemented with other raised funds -- Governance structure : democratic funds and financial management -- The management style : market-based and standardized management mode -- The reform of development-oriented financial institute -- Global financial crisis promotes world order change and international strategy adjustment -- China's finance under the background of global changes -- The study of the development-oriented financial institute to functioning as a commercial bank -- Promoting the healthy development of the financial institution to a state of commercial operation -- A preliminary study of financial diplomacy -- Properly handle five relations to ensure the stable and rapid economic development of china -- Bibliography -- Epilogue -- Index.

As a government institution specializing in development-oriented finance, the China Development Bank (CDB) has combined advanced international financial theories with China's practical conditions and has done remarkably well in removing financing bottlenecks, establishing market credit systems, and ensuring faster and better economic and social development. Its practice and theory in development-oriented finance represent a major distinctive feature of China's socialist market economy.Written in the setting of great history, great changes and great challenges, this book contains a systematic study of the theory and practice of development-oriented finance that has evolved along with China's reform and opening up. It provides an in-depth analysis of the ideological basis, theoretical contents, operating principles and innovative development of China's financial system.China's Rise: Development-Oriented Finance and Sustainable Development will promote further discussions and researches on China's modern economic and financial systems and in turn the sustainable development of the Chinese economy and the world economy at large.

In the last two decades of the 20th century, China stood out as the world''s star performer in economic growth, thanks to the market-oriented reform that started in 1978. At the turn of the century, the Chinese economy faces a series of challenges to sustain its growth and stability. The two-decade-long rapid growth has effectively strengthened China''s economic power and raised its people''s standard of living. It has also transformed China from a centrally planned command economy into a OC socialist market economyOCO, which operates increasingly in line with capitalist norms. Major structural problems, however, remain and are growing acute. Weakness in the fiscal system breeds rent seeking at the local level and causes tension in the state budget. The flawed financial institutions and the biased ownership structure continue to distort resource allocation and cause huge efficiency losses. Inter-provincial and inter-regional disparity is reaching a level that threatens national unity and social stability. As China joins the World Trade Organization and becomes more integrated into the world economy, it urgently needs to improve the domestic business environment and to beef up indigenous industries for foreign competition.This volume is a collection of papers written by scholars at the East Asian Institute to address those problems during the period 1999OCo2001. The authors, with their knowledge and experience in China studies, provide in-depth observations and professional analyses of some of the most important issues for the Chinese economy at the turn of the century. Some of the observations and analyses lead to enlightening policy recommendations. The solid scholarship combined with the policy orientation of these papers will appeal greatly to researchers in academia, governments and other institutions. The policy-oriented and fact-based analyses will also be of interest to practitioners in business, including business consultants."

Why investment and financial reform are essential to China's continued economic well-being Although China's economy has grown spectacularly over the last twenty-five years, economists disagree about how the Chinese economy is likely to fare in the short- and long-term future. Is China's growth sustainable, or has China relied too much on investment, which is subject to diminishing returns, and not enough on technological change? The first book on the relation between investment, finance, and growth in China, How China Grows dismisses this concern. James Riedel, Jing Jin, and Jian Gao argue that investment has not only been the engine of growth, but also the main source of technological progress and structural change in China. What threatens future growth instead, the authors argue, are the weaknesses of China's financial system that undermine efficiency in investment allocation. Financial-sector reform and development are necessary, not only for sustaining long-term growth, but also for maintaining macroeconomic stability. Although it includes some technical economic analysis, How China Grows is accessible to noneconomists and will benefit anyone who is interested in development finance in general and in China's economic growth in particular—whether economists, political scientists, bankers, or business people.

China's prospects of successfully completing the transition to a market economy and becoming the world's largest economy during the 21st Century depend on the future sustainability of high rates of economic growth. This book is a comprehensive, balanced and realistic assessment of China's financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the impact of financial reform on economic development in China during the reform period. This volume will facilitate a more accurate assessment of the Chinese approach to financial reform, and will therefore allow more informed future policy choices for both China and other developing and transitional countries.

This publication presents the proceedings of a conference that took stock of achievements China has made in agricultural finance and credit infrastructure and discussed how China could best address future challenges in this area.

The rapid pace of economic growth in China has been unprecedented since the start of economic reforms in late 1970s. It has delivered higher incomes and made the largest single contribution to global poverty reduction. Measured by international poverty lines, from 1978-2004, the absolute poor population in rural areas has dropped from 250 million to 26.1 million. Such gains are impressive and have been driven largely by a set of market-oriented institutional reforms, strong investment, and effective adoption and application of various knowledge and technologies, especially foreign ones through trade and foreign direct investment. While enjoying tremendous success, China also faces many challenges that need to be addressed to sustain its long-term development. These include weak institutions, low overall educational attainment, weak indigenous innovation capacity, poor links between research and development and industries, and so on. This paper provides an analysis of some strengths, weaknesses, opportunities, and challenges to China's knowledge economy in the areas of economic incentives and institutional regime, human capital, innovation system, and information infrastructure.