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China's economic growth - selected financial aspects

China's economic growth - selected financial aspects

Magdalena Rosińska-Bukowska, Klaudia Zielińska-Lont

E-book

China's economic miracle is widely admired, studied and analysed ever since the country started experiencing unprecedented development pace. This monograph focuses on selected financial aspects of China's economic growth that seldom are at the centre of attention of the researchers. The authors stress that the maturing financial system contributes greatly to the country's transition to a modern, developed economy. Research conducted for this monograph is part of a wider analysis of Asia's competitive position - Asia's global expansion: business and financial aspects (2020), http://dx.doi.org/10.18778/8142-990-0.

Different areas of the Chinese financial system are analysed in detail in order to show that the country has largely passed the stage of catching up with the most developed economies of the world and in certain cases has already taken the lead. China's bond market is growing in liquidity, its financial institutions are among the largest in the world and at the same time are able to meet the strictest prudential requirements. Innovativeness of China's FinTech sector has surpassed many established financial institutions of the world.

China's financial institutions are ready to compete on the global market and the Chinese economy will no longer build its competitive position exclusively on cheap labour. The findings of these book will help understanding what type of challenges are waiting ahead of the Middle Kingdom.

The authors of the monograph are researchers from the University of Lodz, the Department of International Business and Trade, http://www.instytutgm.uni.lodz.pl/about/the-department-of-international-business-and-trade/

Introduction  7

 

Chapter 1. The monetary policy of China — evolution and perspectives (Joanna Bogołębska)    9

1.1. The evolution of the final and intermediate objectives of the monetary policy        10

1.2. The evolution of monetary policy instruments 14

1.3. China’s exchange rate policy 18

1.4. Challenges for the monetary policy    20

Conclusions     22

 

Chapter 2. Directions and prospects for the development of the bond market in China (Joanna Bogołębska)     23

    1. The bond market in the Chinese financial sector and the determinants of its development  23

2.2. Bond market segments, trading venues, and categories of investors        27

2.3. The characteristics of today’s bond market     30

2.4. Treasury debt securities market        35

    1. Prospects for an increase in the role of the Chinese bond market in the international financial system          37

Conclusions     38

 

Chapter 3. Corporate finance — China’s big four banks (Magdalena Rosińska-Bukowska)  39

3.1. Origins and determinants of changes in the corporate finance of China    40

3.2. Evolution of Chinese banking system — the emergence of China’s big four banks   44

3.3. The Industrial and Commercial Bank of China — ICBC   47

3.4. China Construction Bank Corporation — CCB    50

3.5. Agricultural Bank of China — ABC       54

3.6. Bank of China — BOC           56

Conclusions     59

 

Chapter 4. China’s largest credit institutions in light of Basel III implementation (Klaudia Zielińska-Lont)           61

4.1. Short characteristics of the Chinese banking sector        62

4.2. Basel Accords short overview  64

4.3. Basel Accord implementation and prudential supervision in China            65

4.4. Economic impact of implementing the Basel Accord      66

Conclusions          74

 

Chapter 5. The development of the FinTech sector as a source of innovation for the Asian financial market — the example of China (Karolina Anielak)       75

5.1. The FinTech sector in global terms      76

5.2. FinTech as an innovation in the financial market            77

5.3. The characteristics of the Asian market FinTech            79

5.4. Development of FinTech’s market in China       84

Conclusions          91

 

Conclusions       93

References        95

List of figures  103

List of tables   105

  • Titel: China's economic growth - selected financial aspects
  • Autor: Magdalena Rosińska-Bukowska, Klaudia Zielińska-Lont
  • ISBN: 978-83-822-0096-6, 9788382200966
  • Veröffentlichungsdatum: 2020-10-19
  • Format: E-book
  • Artikelkennung: e_1saj
  • Verleger: Wydawnictwo Uniwersytetu Łódzkiego