Financial Reform in China: The Way from Extraction to Inclusion

1st Edition

Changwen Zhao, Hongming Zhu

Routledge
September 30, 2019 Forthcoming
Reference - 184 Pages - 46 B/W Illustrations
ISBN 9780367374877 - CAT# K442847

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Summary

This book focuses on the importance for China to correct the present imbalance in the relationship between the financial sector and the real economy.

The book looks at China’s current financial system in terms of "extractive" and "inclusive". It asserts that the financial sector is producing huge "siphonic effects" that distort the overall development of the Chinese economy. Like a giant magnet, the financial sector attracts too many innovation factors, such as talents, capital and entrepreneurship away from the real economy and inhibits the development of the latter. Hence, the book argues that China’s financial system must now be thoroughly reformed to become an inclusive financial system, where finance and the rest of the economy can co-exist and develop in support of each other.

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