China’s economic growth – selected financial aspects

Abstract

China’s economic miracle is widely admired, studied and analysed ever since the country started experiencing unprecedented development pace. This monograph focuses on selected financial aspects of China’s economic growth that seldom are at the centre of attention of the researchers. The authors stress that the maturing financial system contributes greatly to the country’s transition to a modern, developed economy. Research conducted for this monograph is part of a wider analysis of Asia’s competitive position – Asia’s global expansion: business and financial aspects (2020), http://dx.doi.org/10.18778/8142-990-0. Different areas of the Chinese financial system are analysed in detail in order to show that the country has largely passed the stage of catching up with the most developed economies of the world and in certain cases has already taken the lead. China’s bond market is growing in liquidity, its financial institutions are among the largest in the world and at the same time are able to meet the strictest prudential requirements. Innovativeness of China’s FinTech sector has surpassed many established financial institutions of the world. China’s financial institutions are ready to compete on the global market and the Chinese economy will no longer build its competitive position exclusively on cheap labour. The findings of these book will help understanding what type of challenges are waiting ahead of the Middle Kingdom. The authors of the monograph are researchers from the University of Lodz, the Department of International Business and Trade, http://www.instytutgm.uni.lodz.pl/about/the-department-of-international-business-and-trade/