Abstract
The Anatomy of China’s Banking Sector and Regulation by Professor Shen Wei is an encyclopaedic survey, packed with information, of the stunning changes that have taken place over the past decade in China’s banking and financial sector. The Chinese Government has revamped its regulatory apparatus, including the creation of a new agency, the China Banking Regulatory Commission, to assume the bank supervisory activity previously undertaken by the central bank, adopted international capital requirements set out in the Basel Accords, modernised its commercial and corporate law, advanced the opening of its markets to foreign financial firms, and expanded cross-border lending and access to the renminbi, on a path to eventual convertibility of its currency. Yet, these fundamental policy transformations are little publicised or understood by non-specialists. Professor Shen Wei has provided an invaluable service by illuminating to an English-speaking audience this truly remarkable transformation. - Foreword by Professor Roberta Romano
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