Abstract

This chapter examines financial system reform in China. It presents an overview of the changes in China’s financial sector since 1979, and discusses the main problems of the sector until 1992. The relevance of the Japanese financial system to Chinese reforms is then analysed. It is argued that China should adopt several institutional elements of the Japanese financial system. China should learn to adapt, rather than simply copy, the institutions found in other countries which are useful to its own specific situation.

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