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This publication presents the proceedings of a conference that took stock of achievements China has made in agricultural finance and credit infrastructure and discussed how China could best address future challenges in this area.
Book Synopsis China in the Global Economy Rural Finance and Credit Infrastructure in China by : OECD
Download or read book China in the Global Economy Rural Finance and Credit Infrastructure in China written by OECD and published by OECD Publishing. This book was released on 2004-04-23 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication presents the proceedings of a conference that took stock of achievements China has made in agricultural finance and credit infrastructure and discussed how China could best address future challenges in this area.
Although Chinas rural economy has made significant progress over the last twenty-five years, rural finance and institutional reforms are still lagging behind. This publication reviews the findings of an OECD meeting held in October 2003 and organised with the Chinese Government (with participants including Chinese policy makers and industry experts, as well as representatives from the World Bank, the FAO, the European Bank for Reconstruction and Development and the Asian Development Bank). The meeting discussed options for improving the countrys rural finance and institutional framework, as well as considering the role that the Chinese government could play within the reform process.
Book Synopsis Rural Finance and Credit Infrastructure in China by : Organisation for Economic Co-operation and Development
Download or read book Rural Finance and Credit Infrastructure in China written by Organisation for Economic Co-operation and Development and published by OECD Publishing. This book was released on 2004 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Chinas rural economy has made significant progress over the last twenty-five years, rural finance and institutional reforms are still lagging behind. This publication reviews the findings of an OECD meeting held in October 2003 and organised with the Chinese Government (with participants including Chinese policy makers and industry experts, as well as representatives from the World Bank, the FAO, the European Bank for Reconstruction and Development and the Asian Development Bank). The meeting discussed options for improving the countrys rural finance and institutional framework, as well as considering the role that the Chinese government could play within the reform process.
This book presents the proceedings of an OECD conference reflecting on how China can best manage its reform process under WTO integration.
Book Synopsis China in the Global Economy Agricultural Policies in China after WTO Accession by : OECD
Download or read book China in the Global Economy Agricultural Policies in China after WTO Accession written by OECD and published by OECD Publishing. This book was released on 2002-09-12 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of an OECD conference reflecting on how China can best manage its reform process under WTO integration.
This book aims to provide first-hand information for readers who are concerned about inclusive finance and sustainable development by summarizing China’s policy measures and practical innovations in the development of inclusive finance and expects to provide China’s experience for the development of inclusive finance in more regions. From a worldwide perspective, a large number of people had been excluded from formal financial services for a long time due to various factors. Even in developed economies with sound financial systems, relatively disadvantaged groups are often denied access to effective financial services. In 2005, the United Nations proposed the concept of Inclusive Finance, emphasizing the extension of financial services to less developed regions and low-income groups in society at an affordable cost by improving financial infrastructure and providing them with reasonably priced and convenient financial services. In 2015, the United Nations adopted the 2030 Agenda for Sustainable Development, making inclusive finance an important focus for achieving sustainable development. It has become a global consensus to vigorously develop inclusive finance. China has attached importance to improving financial services for disadvantaged groups such as rural residents, micro-, small and medium enterprises (MSMEs) and others. In 2013, Developing “Inclusive Finance” became China’s national strategy. In 2015, China formulated the Plan for Promoting the Development of Inclusive Finance (2016-2020). In 2016, during its presidency of the Global Partnership for Financial Inclusion (GPFI), China proposed the issue of "Digital Financial Inclusion" and issued the G20 High-level Principles for Digital Financial Inclusion at the G20 Hangzhou Summit in the same year. Through policy guidance and active practice by the financial sector, China has gradually formed a unique development model of inclusive finance and achieved remarkable successes. Physical outlets, service machines and online service channels have been improved, and basic financial services have generally covered both urban and rural areas. The financial services for rural households and MSMEs have improved significantly. The efficiency and convenience of financial services have been significantly improved, and the satisfaction of financial services has significantly increased. China's experience in inclusive finance has been recognized by the international community. In 2017, five cases from China were selected in the G20 report on Digital Financial Inclusion: Emerging Policy Approaches.
Book Synopsis Financial Inclusion in China by : Hongmei Zhu
Download or read book Financial Inclusion in China written by Hongmei Zhu and published by Springer Nature. This book was released on 2023-10-23 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to provide first-hand information for readers who are concerned about inclusive finance and sustainable development by summarizing China’s policy measures and practical innovations in the development of inclusive finance and expects to provide China’s experience for the development of inclusive finance in more regions. From a worldwide perspective, a large number of people had been excluded from formal financial services for a long time due to various factors. Even in developed economies with sound financial systems, relatively disadvantaged groups are often denied access to effective financial services. In 2005, the United Nations proposed the concept of Inclusive Finance, emphasizing the extension of financial services to less developed regions and low-income groups in society at an affordable cost by improving financial infrastructure and providing them with reasonably priced and convenient financial services. In 2015, the United Nations adopted the 2030 Agenda for Sustainable Development, making inclusive finance an important focus for achieving sustainable development. It has become a global consensus to vigorously develop inclusive finance. China has attached importance to improving financial services for disadvantaged groups such as rural residents, micro-, small and medium enterprises (MSMEs) and others. In 2013, Developing “Inclusive Finance” became China’s national strategy. In 2015, China formulated the Plan for Promoting the Development of Inclusive Finance (2016-2020). In 2016, during its presidency of the Global Partnership for Financial Inclusion (GPFI), China proposed the issue of "Digital Financial Inclusion" and issued the G20 High-level Principles for Digital Financial Inclusion at the G20 Hangzhou Summit in the same year. Through policy guidance and active practice by the financial sector, China has gradually formed a unique development model of inclusive finance and achieved remarkable successes. Physical outlets, service machines and online service channels have been improved, and basic financial services have generally covered both urban and rural areas. The financial services for rural households and MSMEs have improved significantly. The efficiency and convenience of financial services have been significantly improved, and the satisfaction of financial services has significantly increased. China's experience in inclusive finance has been recognized by the international community. In 2017, five cases from China were selected in the G20 report on Digital Financial Inclusion: Emerging Policy Approaches.
In the modern era, China’s rural credit landscape is transforming at a dizzying rate, but, in terms of financial development, these changes represent a second attempt in the past 100 years to reform China’s credit institutions and provide credit access to farmers. The first period was during the Republican era, between 1912 and 1949, which saw the first attempts at formalizing rural credit with the Industrial and Agricultural Banks. This book uses primary data and papers to present a full picture of the difficult conditions China faced during the Republican era in order to explain the myriad reforms to the country's rural credit system. Fu and Turvey build a narrative around these developments based on the foundation of thousands of years of dynastic rule in order to explore the specific impacts of drought, floods, famine, communist insurgencies, Japanese expansionism, and more on credit access, supply and demand. They consider powerful personalities—such as J.B. Taylor, John Lossing Buck, Paul Hsu and Timothy Richards—and influential institutions—from Nanking and Nankai Universities to the China International Famine Relief Commission—that sought ways to end the cycle that trapped the vast majority of Chinese farmers in poverty. This rich, wide-ranging, and stimulating work will appeal both to readers focused on present day China and those who want to understand China’s rural economy and credit policies in a historical context.
Book Synopsis The Evolution of Agricultural Credit during China’s Republican Era, 1912–1949 by : Hong Fu
Download or read book The Evolution of Agricultural Credit during China’s Republican Era, 1912–1949 written by Hong Fu and published by Palgrave Macmillan. This book was released on 2019-01-08 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the modern era, China’s rural credit landscape is transforming at a dizzying rate, but, in terms of financial development, these changes represent a second attempt in the past 100 years to reform China’s credit institutions and provide credit access to farmers. The first period was during the Republican era, between 1912 and 1949, which saw the first attempts at formalizing rural credit with the Industrial and Agricultural Banks. This book uses primary data and papers to present a full picture of the difficult conditions China faced during the Republican era in order to explain the myriad reforms to the country's rural credit system. Fu and Turvey build a narrative around these developments based on the foundation of thousands of years of dynastic rule in order to explore the specific impacts of drought, floods, famine, communist insurgencies, Japanese expansionism, and more on credit access, supply and demand. They consider powerful personalities—such as J.B. Taylor, John Lossing Buck, Paul Hsu and Timothy Richards—and influential institutions—from Nanking and Nankai Universities to the China International Famine Relief Commission—that sought ways to end the cycle that trapped the vast majority of Chinese farmers in poverty. This rich, wide-ranging, and stimulating work will appeal both to readers focused on present day China and those who want to understand China’s rural economy and credit policies in a historical context.
How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Book Synopsis China 2049 by : David Dollar
Download or read book China 2049 written by David Dollar and published by Brookings Institution Press. This book was released on 2020-06-09 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.
Book Synopsis China's Economic Rise by : Congressional Research Service
Download or read book China's Economic Rise written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-09-17 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.
China's entry into the World Trade Organisation (WTO) has brought it unprecedented opportunities and challenges, especially with regards to its agricultural development. This publication presents a number of papers which consider how China can manage its reform process under WTO integration, including issues such as the need to raise farmers' incomes; market integration and pricing structures; the development of the rural areas; the role of education in improving rural livelihoods and redeploying rural labour.
Book Synopsis Agricultural Policies in China After WTO Accession by :
Download or read book Agricultural Policies in China After WTO Accession written by and published by OECD Publishing. This book was released on 2002 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's entry into the World Trade Organisation (WTO) has brought it unprecedented opportunities and challenges, especially with regards to its agricultural development. This publication presents a number of papers which consider how China can manage its reform process under WTO integration, including issues such as the need to raise farmers' incomes; market integration and pricing structures; the development of the rural areas; the role of education in improving rural livelihoods and redeploying rural labour.
This book examines the credit needs and the borrowing behaviour of rural households in China in recent years. Based on a micro-study of three villages with dissimilar economic characteristics in Jiangxi province, this book investigates the sources of finance, formal and informal, in rural areas and the different types of credit that farmers demand. It demonstrates the importance of innovative institutional arrangements in rural China and new instruments that give farmers access to formal rural financial markets and enable them to utilize credit effectively, concluding that further reforms are necessary for this to be achieved.
Book Synopsis China's Rural Financial System by : Yuepeng Zhao
Download or read book China's Rural Financial System written by Yuepeng Zhao and published by Routledge. This book was released on 2010-10-04 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the credit needs and the borrowing behaviour of rural households in China in recent years. Based on a micro-study of three villages with dissimilar economic characteristics in Jiangxi province, this book investigates the sources of finance, formal and informal, in rural areas and the different types of credit that farmers demand. It demonstrates the importance of innovative institutional arrangements in rural China and new instruments that give farmers access to formal rural financial markets and enable them to utilize credit effectively, concluding that further reforms are necessary for this to be achieved.
While China's economy has shown impressive dynamism following the increased reliance on market-based policies, the governance structures themselves will have to be reformed deeply for this growth to be sustainable. This report examines the many challenges of governance which China is facing.
Book Synopsis China in the Global Economy Governance in China by : OECD
Download or read book China in the Global Economy Governance in China written by OECD and published by OECD Publishing. This book was released on 2005-09-07 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: While China's economy has shown impressive dynamism following the increased reliance on market-based policies, the governance structures themselves will have to be reformed deeply for this growth to be sustainable. This report examines the many challenges of governance which China is facing.
