CHINESE FINANCIAL SYSTEM, THE

With a strategic and geopolitical view on China's financial system, this book explores a number of roles that it plays in the world's second largest economy. The first key mission has been the financing of the domestic economy. The second one has been the financing of infrastructures (transportation, energy, and telecommunication) to offer companies a conducive environment to develop manufacturing facilities. Thirdly, it supports Chinese foreign investment. The final and most recent role is the active use of technology in finance and investment to collect big data.

The book supports three theses. The first thesis argues that finance and investment are not only the product of market forces but also other dimensions like regulations, geopolitics, technology and internal governance. Another thesis is that the State Council is metaphorically the conductor, and financial and economic actors are the performers who must imperatively follow the conductor. Last but not least, the third thesis is that the sino-centric perspective adopted by the Chinese authorities impedes foreign entry. Contrary to industries opened to foreign companies, the Chinese government left ajar the door to banking industry — characterizing foreign banks as marginal actors in the system.

Contents:

• The Financial System in China: Ruled by the State
• Performers of the Chinese Financial System
• Evolution of the Chinese Financial System
• Financing Infrastructures
• Investing Abroad: The Primacy of Geopolitics Over Business
• Technology in the Banking Industry
• The Financial Impact of Chinese Societal Challenges
• New Perspectives

Readership: Academics with research focus on Chinese business and finance; students interested in Chinese business; consultants and business people with a focus on Chinese business.

'The book discusses how the interdependence of legal, regulatory, fiscal, state enterprise, and financial sector reforms has limited the speed with which reforms can be pursued in any one area. Even in the best of circumstances, it is extremely challenging to instill profit-maximizing behavior in creditors and borrowers alike in a transition economy due to the scarcity of skilled bank and corporate managers. This challenge is magnified by China's enormous economy and population, which surpasses those of all the transition economies of Central Asia and Europe combined.Economic, financial, and social reforms require balancing intertemporal costs in the financial sector. It has been shown in other countries that the longer decisive action on financial sector reforms is delayed, the greater the economic and financial costs.' - Dr Saikat GochhaitSymbiosis Institute of Digital and Telecom Managementconstituent of Symbiosis International Deemed University, India

'Professor Dominique Jolly's book is a crucial exploration of China's financial systems, shedding light on its Sinocentric nature and challenges for Western understanding. The book recognizes the significance of this work in unraveling the intricacies of accessing the Chinese financial system.' - Vincent Sabourin Ph.d.Professeur titulaire de stratégie des organisations et de leadershipÉcole des sciences de la gestion Université du Québec à Montréal

Key Features:

• Offers not just the current financial situation of China, but also brings historical perspectives as well as the future where finance is dominated by technology and data
• Includes an academician's perspective as well as a business strategist's perspective
• Author has been researching about China for 25 years. He has made over 50 trips to China, which is well reflected in the book through the societal views on China's financial system