Chinese Financial System
China's financial system is highly regulated and has recently begun to expand rapidly as monetary policy becomes integral to its overall economic policy. As a result, banks are becoming more important to China's economy by providing increasingly more finance to enterprises for investment, seeking deposits from the public to mop up excess liquidity, and lending money to the government.
As part of US$586 billion economic stimulus package of November 2008, the government is planning to remove loan quotas and ceilings for all lenders, and increase bank credit for priority projects, including rural areas, small businesses, technology companies, iron and cement companies.
Read more about Chinese Financial System: Financial Reform, Economic Reform, Government Finances and Budget, Taxation, Inflation, Banking Sector, Banking Reform, Foreign Banks, Stock Exchanges, Development, Trade Balance, Balance of Payments, External Debt, Foreign Aid and Foreign Investment, Currency and Foreign Exchange Control, Fiscal Year, Insurance
Famous quotes containing the words financial and/or system:
“A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.”
—Lionel Trilling (1905–1975)
“... in America ... children are instructed in the virtues of the system they live under, as though history had achieved a happy ending in American civics.”
—Mary McCarthy (1912–1989)