Financial Reforms in Modern China

Sun Guofeng is the Deputy Director General of the People's Bank of China's Monetary Policy Department.

• List of Tables and Figures About the Author Preface Introduction 1. Money Market 2. Bond Market 3. Foreign Exchange Market 4. Stock Market Index

"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 China's financial reform with his in-depth deliberation and insight about the intrinsic logic of financial reform. This book is well worth reading for readers who wish to understand the financial reform and financial market development in China." - Qian Yingyi, Tsinghua University, China 'China's economic and financial reforms carry useful lessons and innovative ideas for economic development. Sun Guofeng is unusually suited to offer insight on these topics because he both has been actively participated in creating and perfecting an inter-bank bond market and a progressively more market determined exchange rate system as a senior central bank official and has been an active and thoughtful research on these and related topics. Both researchers and practitioners will benefit from reading this very informative book.' - Shang-Jin Wei, Chief Economist, Asian Development Bank