LEADER 09409oam 22018014 450 001 9910813700803321 005 20240402023623.0 010 $a1-4755-2373-4 010 $a1-4843-1534-0 010 $a1-4755-3321-7 035 $a(CKB)2550000001138432 035 $a(EBL)1587765 035 $a(SSID)ssj0001154385 035 $a(PQKBManifestationID)11670059 035 $a(PQKBTitleCode)TC0001154385 035 $a(PQKBWorkID)11162138 035 $a(PQKB)11470144 035 $a(Au-PeEL)EBL1587765 035 $a(CaPaEBR)ebr10790025 035 $a(CaONFJC)MIL538133 035 $a(OCoLC)867927937 035 $a(IMF)CRGFEE 035 $a(IMF)CRGFEA 035 $a(MiAaPQ)EBC1587765 035 $a(EXLCZ)992550000001138432 100 $a20020129d2013 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aChina's Road to Greater Financial Stability : $eSome Policy Perspectives /$fUdaibir Das, Jonathan Fiechter, Tao Sun 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2013. 215 $a1 online resource (245 p.) 300 $aDescription based upon print version of record. 311 $a1-61635-406-2 311 $a1-306-06882-7 327 $aCover; Contents; Acknowledgments; Foreword; Introduction; Overview: China's Road to Greater Financial Stability; PART I: REFORMING THE FINANCIAL SYSTEM AND ENSURING FINANCIAL STABILITY; 1 Reform and Development of China's Financial Sector; Figures; Figure 1.1 Total Assets of Large Commercial Banks; Figure 1.2 Nonperforming Loan Ratios of Large Commercial Banks; Figure 1.3 Total Assets of Rural Credit Cooperatives; Figure 1.4 Owners' Equity of Rural Credit Cooperatives; Figure 1.5 Capital Adequacy Ratio of Rural Credit Cooperatives 327 $aFigure 1.6 Nonperforming Loan Ratios of Rural Credit Cooperatives Figure 1.7 Total Assets in the Financial Sector; Figure 1.8 Outstanding Bond Balances and Their Ratios to GDP; Figure 1.9 Bond Issuance; Figure 1.10 U.S. Dollar to Renminbi Exchange Rate; Figure 1.11 Daily Fluctuation Range of the Renminbi to U.S. Dollar Exchange Rate; 2 Financial Reform: An Essential Ingredient in Transforming China's Economic Development Model; Figure 2.1 Saving Decomposition; Figure 2.2 Sterilization by the People's Bank of China; Figure 2.3 House hold Consumption 327 $aFigure 2.4 Average Employment Growth, 2004-10 Figure 2.5 Imputed "Subsidy" to Capital; Figure 2.6 Social Financing; Figure 2.7 Private Credit; Figure 2.8 Real Interest Rates; Figure 2.9 Distribution of the Returns to Bank-Intermediated Capital; Figure 2.10 Real Cost of Capital, 2005-09; Figure 2.11 Exchange Rate and Foreign Reserves; Figure 2.12 Short-Term Interest Rates; Figure 2.13 Inflation and the Deposit Rate; 3 Strengthening the Financial Stability Framework in China; PART II: MACROECONOMIC FACTORS AFFECTING FINANCIAL STABILITY 327 $a4 China's Sovereign Balance Sheet Risks and Implications for Financial Stability Figure 4.1 Size and Composition of China's Sovereign Assets; TABLES; TABLE 4.1 Sovereign Balance Sheet of China, 2010; Figure 4.2 Size and Composition of China's Sovereign Liabilities; Figure 4.3 China's Sovereign Assets, Liabilities, and Net Worth; Figure 4.4 China: Bonds and Loans; Figure 4.5 China: Debt Level by Sector; TABLE 4.2 International Comparison of China's Debt Structure and Overall Leverage Ratio; 5 Systemic Liquidity, Monetary Operations, and Financial Stability in China 327 $aTABLE 5.1.1 Stylized People's Bank of China Balance Sheet Boxes; Box 5.1 What Is Liquidity?; Figure 5.1 China: Benchmark Deposit Rate Structure; Figure 5.2 China: Benchmark Lending Rate Structure; Figure 5.3 China: Structural Liquidity and Foreign Reserves; Figure 5.4 Structural Liquidity and the People's Bank of China Sterilization Policy; Figure 5.5 Composition of Policy Sterilization; Figure 5.6 China: Interest Rate Structure; Figure 5.7 China: Interbank Funding; Figure 5.8 China: Estimated Excess Reserve Ratios; TABLE 5.1 China: Aggregated Bank Balance Sheet; Figure 5.9 China: Bank Reserves 327 $aFigure 5.10 China: Responses to an Increase in the Total Excess Reserves Ratio 330 3 $aChina has reached a stage where further financial sector reforms appear essential. As the reform process progresses and macrofinancial linkages deepen, the preservation of financial stability will become a major policy preoccupation. This publication draws upon contributions from senior Chinese authorities and academics as well as staff from the IMF to discuss the financial policy context within China, macroeconomic factors affecting financial stability, and the critical role of financial system oversight. It seeks to improve the understanding of the financial sector policy processes underway and the shifts taking place among China?s economic priorities. 410 0$aBooks 606 $aBanks and banking$zChina$y21st century 606 $aEconomic development$zChina$y21st century 606 $aEconomic stabilization$zChina$y21st century 606 $aFinance$zChina$y21st century 606 $aMacroeconomics 606 $aAccounting$2imf 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aFinance: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aIndustries: Financial Services$2imf 606 $aFinancial Risk Management$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aPortfolio Choice$2imf 606 $aInvestment Decisions$2imf 606 $aPublic Administration$2imf 606 $aPublic Sector Accounting and Audits$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aBanking$2imf 606 $aFinance$2imf 606 $aInternational economics$2imf 606 $aMonetary economics$2imf 606 $aFinancial reporting, financial statements$2imf 606 $aEconomic & financial crises & disasters$2imf 606 $aCommercial banks$2imf 606 $aLiquidity$2imf 606 $aFinancial sector stability$2imf 606 $aCapital flows$2imf 606 $aFinancial institutions$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aAsset and liability management$2imf 606 $aCapital markets$2imf 606 $aFinancial markets$2imf 606 $aCredit$2imf 606 $aMoney$2imf 606 $aBalance of payments$2imf 606 $aBanks and banking$2imf 606 $aFinancial services industry$2imf 606 $aEconomics$2imf 606 $aCapital market$2imf 606 $aCapital movements$2imf 607 $aChina$xEconomic policy$y2000- 607 $aChina, People's Republic of$2imf 615 0$aBanks and banking 615 0$aEconomic development 615 0$aEconomic stabilization 615 0$aFinance 615 0$aMacroeconomics. 615 7$aAccounting 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aFinance: General 615 7$aMoney and Monetary Policy 615 7$aIndustries: Financial Services 615 7$aFinancial Risk Management 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aPortfolio Choice 615 7$aInvestment Decisions 615 7$aPublic Administration 615 7$aPublic Sector Accounting and Audits 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aBanking 615 7$aFinance 615 7$aInternational economics 615 7$aMonetary economics 615 7$aFinancial reporting, financial statements 615 7$aEconomic & financial crises & disasters 615 7$aCommercial banks 615 7$aLiquidity 615 7$aFinancial sector stability 615 7$aCapital flows 615 7$aFinancial institutions 615 7$aFinancial sector policy and analysis 615 7$aAsset and liability management 615 7$aCapital markets 615 7$aFinancial markets 615 7$aCredit 615 7$aMoney 615 7$aBalance of payments 615 7$aBanks and banking 615 7$aFinancial services industry 615 7$aEconomics 615 7$aCapital market 615 7$aCapital movements 676 $a332.152 700 $aDas$b Udaibir$01600334 701 $aFiechter$b Jonathan$01653949 701 $aSun$b Tao$01103303 801 0$bDcWaIMF 906 $aBOOK 912 $a9910813700803321 996 $aChina's Road to Greater Financial Stability$94005494 997 $aUNINA