THE RESEARCH ON THE ECONOMIC REFORM AND FINANCIAL SYSTEM IN CHINA

Research Project

Project/Area Number	08630094
Research Category	Grant-in-Aid for Scientific Research (C)
Allocation Type	Single-year Grants
Section	一般
Research Field	Public finance/Monetary economics
Research Institution	KOBE UNIVERSITY OF COMMERCE
Principal Investigator	NAMBU Minoru KOBE UNIVERSITY OF COMMERCE,DEPT.OF BUSINESS AND EONOMICS,PROFESSOR, 商経学部, 教授 (00047490)
Project Period (FY)	1997 – 1998
Project Status	Completed (Fiscal Year 1998)
Budget Amount *help	¥2,100,000 (Direct Cost: ¥2,100,000) Fiscal Year 1998: ¥600,000 (Direct Cost: ¥600,000) Fiscal Year 1997: ¥700,000 (Direct Cost: ¥700,000) Fiscal Year 1996: ¥800,000 (Direct Cost: ¥800,000)
Keywords	FINANCIAL REFORM / TREASURY BOND MARKET / COMMERCIAL PAPER MARKET / MANAGED FLOTING RATE / FINANCIAL MARKET / PEOPLE'S BANK OF CHINA / INTERBANK LOAN MARKET / FINANCIAL CRISIS IN AIAN COUNTRIES / アジア金融・通貨危機 / 国有商業銀行 / 資産負債比率 / 中国人民銀行再編 / 赤字国債 / 金融マクロ・コントロール / 軟着陸 / 総量規制 / 預金準備率 / 公定歩合 / 公開市場操作 / コール市場 / 株式市場 / インフレーション / マネーサプライ / 金融市場 / 人民元為替レート
Research Abstract	THE REPORT OF RESEARCH PROJEKT GRANT-IN-AID FOR SCIENTIFIC RESEARCH IS COMPOSED BY 6 CHAPTERS.IN THE CHAPTER 1, CHARACTERISTICS OF FINANCIAL TREND AND ECONOMIC DEVELOPMENT SINCE THE ESTABLISH OF TIlE NEW CHINA ARE DISCUSSED.IN THE CHAPTER 2, PROCESS OF ESTABLISHING OF FINANCIAL MACRO-CONTOROL SYSTEM IS DISCUSSED.IN THE CHAPTER 3, THE BANKING SYSTEM WHICH THE PEOLPE'S BANK OF CHINA IS LOCATED IN THE CENTER OF THE FINANCIAL SYSTEM IS DISCUSSED.IN THE CHAPTER 4, THE DEVELOPMENT OF FINANCIAL MARKET INCLUDING INTERBANK LOAN MARKET, COMMERCIAL PAPER MARKET AND TREASURY BOND MARKET IS DISCUSSED.IN THE CHAPTER 5, THE DEVELOPMENT OF FOREIGN EXCHANGE MARKET REFORMS IS DISCUSSED.IN CHINA , FOREIGN EXCHANGE MAEKET HAS BEEN CLOSED FOR A LONG TIME, BUT IN 1994 A MAEKET ORIENTED, SINGLE AND MANAGED FLOTING RATE hAS REPLACED THE PREVIOUS OFFICIAL AND SWAP MARKET RATES.SINCE THEN THIS MARKET DEVELOPMENT WENT A STEP FURTHER IN PROMOTION.IN CHAPTER 6, AN ENLIGHTENING TO ChINA THE FINANCIAL CRISIS IN SOUTH ASIAN COUNTRIES IS DISCUSSED.IN 1998, CHINA' S ECONOMY WAS SITUATED IN A VERY CRITICAL CONDITIONS, BUT CHINESE GOVERNMENT AVOIDED THE DEVALUATION OF RMB, AND ESTABLISHED ECONOMIC GROWTH RATE OF 8%. CHAIN HAS STUDIED AN IMPORTANCE OF ESTABLISHING OF SOUND FINANCIAL SYSTEM.THEN, CHINESE GOVERNMENT REORGANIZED BRANCH-SYSTEM OF PEOPLE' S BANK OF CHINA IN ORDER TO HAVE A GREAT INITIATIVE IN FINANCAL ACTIVITIES, AND IN THE HEAD OFFICE OF CHINESE COMMUNIST PARTY FINANCIAL COMMITTEE WAS ESTABLISH IN ORDER TO RE-INFORCE FINANCIAL MANEGEMENT ON THE WHOLE SITUATION.