1998 Fiscal Year Final Research Report Summary
THE RESEARCH ON THE ECONOMIC REFORM AND FINANCIAL SYSTEM IN CHINA
| Project/Area Number |
08630094
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | KOBE UNIVERSITY OF COMMERCE |
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Principal Investigator |
NAMBU Minoru KOBE UNIVERSITY OF COMMERCE,DEPT.OF BUSINESS AND EONOMICS,PROFESSOR, 商経学部, 教授 (00047490)
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| Project Period (FY) |
1997 – 1998
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| 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 |
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| 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.
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