Financial sector reforms in China.(Banking and Monetary Reform): An article from: Finance & Development

This digital document is an article from Finance & Development, published by International Monetary Fund on March 1, 1996. The length of the article is 3062 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: China began to embark on a gradual but far-reaching economic reform in 1978. Since then, the Chinese economy has been considerably modernized and opened up to the rest of the world. The reform process, which has been characterized not only by gradualism but also by pragmatism, focused on institutional development during its first decade of implementation. This emphasis has resulted in slow real market development. In the early 1990s, the reform process underwent a dramatic change when the Chinese Communist Party officially announced that a free market system was not incompatible with socialism. It introduced the concept of 'socialist market economy' in which market mechanism governs economic interactions but the public sector maintains ownership of the most important means of production.

Citation Details
Title: Financial sector reforms in China.(Banking and Monetary Reform)
Author: Hassanali Mehran
Publication:Finance & Development (Magazine/Journal)
Date: March 1, 1996
Publisher: International Monetary Fund
Volume: v33 Issue: n1 Page: p18(4)

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