A Review of China ’ s Financial System and Initiatives for the Future *

@inproceedings{Allen2008ARO,
  title={A Review of China ’ s Financial System and Initiatives for the Future *},
  author={Franklin Allen and Jun Qian and Meijun Qian and Mengxin Zhao and Yingxue Cao},
  year={2008}
}
We provide a comprehensive review of China’s financial system, and explore directions of future development. First, the current financial system is dominated by a large banking sector. In recent years banks have made considerable progress in reducing the amount of non-performing loans and improving their efficiency. It is important that these efforts are continued. Second, the role of the stock market in allocating resources in the economy has been limited and ineffective. Further development… CONTINUE READING

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