Includes bibliographical references (p. 89).
|Statement||Hassanali Mehran ... [et al.].|
|Series||Occasional paper ;, 141, Occasional paper (International Monetary Fund) ;, no. 141.|
|LC Classifications||HG187.C6 M66 1996|
|The Physical Object|
|Pagination||ix, 91 p. :|
|Number of Pages||91|
|LC Control Number||96034203|
Get this from a library! Monetary and exchange system reforms in China: an experiment in gradualism. [Hassanali Mehran;] -- In , China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial. Downloadable! In , China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year In March , a few months after the outbreak of the global financial crisis, the governor of China’s central bank, Zhou Xiaochuan, published an essay on the bank’s website. Zhou criticized the international monetary system for “the inherent deficiencies caused by using credit-based national currencies” and praised the Special Drawing Right (SDR), the synthetic currency created by the Author: Hongying Wang. China's financial reforms have undergone a large-scale transformation over the past several years. This book aims to outline the structure and current features of China's monetary policy, drawing upon the author's years of experience working within the People's Bank of China .
"The author has nearly twenty years of working experience in the Monetary Policy Department of the People's Bank of China. From the perspective of an insider closely involved in China's financial deepening and reform, he begins with the establishment and development of China's financial markets and explains comprehensively the theoretical basis, overall design, policy making and practice of. Monetary policy concerns the actions of a central bank or other regulatory authorities adopt to manage and regulate currency and credit in order to achieve certain macroeconomic goals. The monetary policy of China aims to keep the value of the RMB stable and contribute to economic growth. "The Law on the People's Bank of China (the PBOC) stipulates that the objective of monetary policy is to. By Martin Kaufman and Daniel Leigh. عربي, 中文, Español, Français, 日本語, Português, Русский. The world entered the COVID pandemic with persistent, pre-existing external imbalances. The crisis has caused a sharp reduction in trade and significant movements in exchange rates but limited reduction in global current account deficits and surpluses. Jadhav, Narendra and Janak Raj. "Financial System in India and China: A Comparative Study." In Economic Reforms in India and China: Emerging Issues and Challenges, edited by B. S. Reddy, New Delhi: SAGE Publications India Pvt Ltd, doi: /n6.
Indeed, it can be expected that the renminbi will sooner or later become an important currency in the international monetary system; and China will more actively participate in the reform of the international financial system and make its due contribution to the stable growth of . Resetting the International Monetary (Non)System provides an analysis of the global monetary system and the necessary reforms that it should undergo to play an active role in the twenty-first century and proposes a comprehensive yet evolutionary reform of the system. After spending more than twenty years at the frontline of China’s monetary policy operations, a tenure which notably includes the design and implementation of open market operations in domestic and foreign exchange markets, I have recently written a book entitled Reforms in China’s Monetary Policy: A Frontbencher’s Perspective. A more flexible exchange rate regime would allow China to operate a more independent monetary policy, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China’s financial system suggest that capital account liberalization poses significant risks and should be a lower priority in the short term.