num_pages: 140
description: China's Financial Growth and Risks provides an updated and comprehensive review of China's financial system and compares it with financial systems in other countries. It reviews what has worked and what has not within the markets and intermediaries in China and further considers the effects of the recent development of China's financial system on the real economy. It also examines a non-standard financial sector which operates beyond the markets and banking sectors and consists of alternative financing channels governance mechanisms and institutions. Finally the authors provide prospects for future research on several unresolved issues including how China's financial system can integrate into the world's markets and economy without being interrupted by damaging financial crises. China's Financial Growth and Risks draws four main conclusions about China's financial system and its future development. First compared with other developed and emerging economies China's financial system has been dominated by a large banking system. Second China's financial markets have witnessed significant development however their current scale and importance are not comparable to those of the banking sector and they may not be effective in allocating resources in the economy. Third the alternative financial sector has played an important role in satisfying the financing demand and maintaining the high growth rate in the real economy. Finally a significant challenge for China's financial system is to avoid damaging financial crises that can severely disrupt economic stability.
language: English
title: China's Financial System: Growth and Risks (Foundations and Trends
publisher: Now Publishers Inc