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In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.

Banks and banking --- Finance --- Monetary policy --- 330.05 --- 332.10951 --- banques --- chine --- finances --- politique economique --- politique monetaire --- 333.100 --- 333.101 --- 333.46 --- 333.480 --- 333.820 --- CN / China - Chine --- S10/0320 --- 336.71 <510> --- 336.74 <510> --- 336.7 <510> --- 338.24 <510> --- 336.71 <510> Bankwezen--?<510> --- Bankwezen--?<510> --- 336.7 <510> Geldwezen. Kredietwezen. Bankwezen. Financien. Monetaire econonomie. Beurswezen--?<510> --- Geldwezen. Kredietwezen. Bankwezen. Financien. Monetaire econonomie. Beurswezen--?<510> --- 336.74 <510> Geld. Geldwezen. Monetaire sector.--?<510> --- Geld. Geldwezen. Monetaire sector.--?<510> --- 338.24 <510> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--?<510> --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--?<510> --- banken --- china --- financien --- economisch beleid --- monetair beleid --- Algemeenheden. Theorie en principes van de bankorganisatie en -techniek --- Banksysteem en bankstelsel --- Monetaire toestand en evolutie --- Geldstelsel --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- China: Economics, industry and commerce--Money and banking: since 1949 --- China --- Economic policy --- Working papers --- International finance --- Banks and Banking --- Finance: General --- Foreign Exchange --- Investments: General --- Money and Monetary Policy --- General Financial Markets: General (includes Measurement and Data) --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Central Banks and Their Policies --- Banking --- Investment & securities --- Monetary economics --- Currency --- Foreign exchange --- Commercial banks --- Government securities --- Credit --- Securities --- Financial institutions --- Money --- Interbank markets --- Financial markets --- Financial instruments --- China, People's Republic of

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China's economic performance hs been remarkable since the the reform process began 15 years ago. Notwithstanding the achievements that have been made, a number of serious problems remain. This papers discusses the current reform program and the effors being made to overcome the structural impediments to growth.

International finance --- Economic policy and planning (general) --- China --- Foreign exchange --- Monetary policy --- Fiscal policy --- Economic policy --- reforme economique --- politique economique --- -Monetary policy --- -politique monetaire --- -politique fiscale --- commerce exterieur --- chine --- 330.05 --- 338.951 --- Tax policy --- Taxation --- Finance, Public --- Monetary management --- Currency boards --- Money supply --- Cambistry --- Currency exchange --- Exchange, Foreign --- Foreign currency --- Foreign exchange problem --- Foreign money --- Forex --- FX (Finance) --- International exchange --- Currency crises --- economische hervorming --- economisch beleid --- monetair beleid --- fiscaal beleid --- buitenlandse handel --- china --- Government policy --- -S10/0251 --- -Fiscal policy --- -338.24 <510> --- 338 --- (510) --- $?$95/01 --- CN / China - Chine --- 331.31 --- 336.61 --- 333.820 --- 330.548 --- 330.540 --- 331.32 --- China: Economics, industry and commerce--General works and economic history: since 1989 --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--?<510> --- Economisch beleid. --- Financieel beleid. --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden. --- Nationalisatie. Privatiseringen. --- Socialistische stelsels: algemeenheden. --- Structuur van de economie. --- -Working papers --- S10/0251 --- 338.24 <510> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--?<510> --- -International finance --- Cina --- Kinë --- Cathay --- Chinese National Government --- Chung-kuo kuo min cheng fu --- Republic of China (1912-1949) --- Kuo min cheng fu (China : 1912-1949) --- Chung-hua min kuo (1912-1949) --- Kina (China) --- National Government (1912-1949) --- China (Republic : 1912-1949) --- People's Republic of China --- Chinese People's Republic --- Chung-hua jen min kung ho kuo --- Central People's Government of Communist China --- Chung yang jen min cheng fu --- Chung-hua chung yang jen min kung ho kuo --- Central Government of the People's Republic of China --- Zhonghua Renmin Gongheguo --- Zhong hua ren min gong he guo --- Kitaĭskai︠a︡ Narodnai︠a︡ Respublika --- Činská lidová republika --- RRT --- Republik Rakjat Tiongkok --- KNR --- Kytaĭsʹka Narodna Respublika --- Jumhūriyat al-Ṣīn al-Shaʻbīyah --- RRC --- Kitaĭ --- Kínai Népköztársaság --- Chūka Jinmin Kyōwakoku --- Erets Sin --- Sin --- Sāthāranarat Prachāchon Čhīn --- P.R. China --- PR China --- Chung-kuo --- Zhongguo --- Zhonghuaminguo (1912-1949) --- Zhong guo --- Chine --- République Populaire de Chine --- República Popular China --- Catay --- VR China --- VRChina --- 中國 --- 中国 --- 中华人民共和国 --- Jhongguó --- Bu̇gu̇de Nayiramdaxu Dundadu Arad Ulus --- Bu̇gu̇de Nayiramdaqu Dumdadu Arad Ulus --- Bu̇gd Naĭramdakh Dundad Ard Uls --- Khi︠a︡tad --- Kitad --- Dumdadu Ulus --- Dumdad Uls --- Думдад Улс --- Kitajska --- 338.24 <510> --- Socialistische stelsels: algemeenheden --- Nationalisatie. Privatiseringen --- Economisch beleid --- Structuur van de economie --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- Financieel beleid --- Working papers --- politique fiscale --- politique monetaire --- Foreign exchange - China. --- Monetary policy - China. --- Fiscal policy - China. --- China - Economic policy - 1976 --- -Foreign exchange --- Banks and Banking --- Foreign Exchange --- Money and Monetary Policy --- Public Finance --- Macroeconomics --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Taxation, Subsidies, and Revenue: General --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Fiscal Policy --- Public finance & taxation --- Monetary economics --- Currency --- Banking --- International economics --- Income and capital gains taxes --- Income tax systems --- Personal income --- Taxes --- National accounts --- Credit --- Money --- Income tax --- Banks and banking --- Revenue --- China, People's Republic of

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This paper reviews China's experience with market-oriented reform since 1978, including domestic reforms, the opening of the economy to foreign trade and investment, and the decentralization of decision making. It identifies special conditions that may have affected China's capacity to implement reforms, assesses the impact of the reforms on the structure of the economy and on its integration into the world economy, examines the effect of the reforms on macroeconomic management and stability, and draws implications for the direction of China's future reform strategy.

Economic policy and planning (general) --- China --- Economic conditions --- Economic policy --- 338.24 <510> --- 338 <510> --- 338 --- (510) --- --- chine --- economie de marche libre --- systemes economiques --- CN / China - Chine --- 331.31 --- 331.30 --- 338.40 --- 331.33 --- 331.32 --- 330.05 --- 338.951 --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--?<510> --- Economische situatie. Economische structuur van bepaalde landen en gebieden. Economische geografie. Economische produktie.economische produkten. Economische diensten--?<510> --- china --- vrije markteconomie --- economische systemen --- Economisch beleid. --- Economische toestand. --- Industrieel beleid: algemeenheden. --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik. --- Structuur van de economie. --- -Economic conditions --- -Economic policy --- -Working papers --- 338 <510> Economische situatie. Economische structuur van bepaalde landen en gebieden. Economische geografie. Economische produktie.economische produkten. Economische diensten--?<510> --- 338.24 <510> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--?<510> --- Cina --- Kinë --- Cathay --- Chinese National Government --- Chung-kuo kuo min cheng fu --- Republic of China (1912-1949) --- Kuo min cheng fu (China : 1912-1949) --- Chung-hua min kuo (1912-1949) --- Kina (China) --- National Government (1912-1949) --- China (Republic : 1912-1949) --- People's Republic of China --- Chinese People's Republic --- Chung-hua jen min kung ho kuo --- Central People's Government of Communist China --- Chung yang jen min cheng fu --- Chung-hua chung yang jen min kung ho kuo --- Central Government of the People's Republic of China --- Zhonghua Renmin Gongheguo --- Zhong hua ren min gong he guo --- Kitaĭskai︠a︡ Narodnai︠a︡ Respublika --- Činská lidová republika --- RRT --- Republik Rakjat Tiongkok --- KNR --- Kytaĭsʹka Narodna Respublika --- Jumhūriyat al-Ṣīn al-Shaʻbīyah --- RRC --- Kitaĭ --- Kínai Népköztársaság --- Chūka Jinmin Kyōwakoku --- Erets Sin --- Sin --- Sāthāranarat Prachāchon Čhīn --- P.R. China --- PR China --- Chung-kuo --- Zhongguo --- Zhonghuaminguo (1912-1949) --- Zhong guo --- Chine --- République Populaire de Chine --- República Popular China --- Catay --- VR China --- VRChina --- 中國 --- 中国 --- 中华人民共和国 --- Jhongguó --- Bu̇gu̇de Nayiramdaxu Dundadu Arad Ulus --- Bu̇gu̇de Nayiramdaqu Dumdadu Arad Ulus --- Bu̇gd Naĭramdakh Dundad Ard Uls --- Khi︠a︡tad --- Kitad --- Dumdadu Ulus --- Dumdad Uls --- Думдад Улс --- Kitajska --- Economische toestand --- Economisch beleid --- Structuur van de economie --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik --- Industrieel beleid: algemeenheden --- Working papers --- China - Economic conditions - 1976-2000 --- China - Economic policy - 1976-2000 --- Banks and Banking --- Investments: Commodities --- Exports and Imports --- Foreign Exchange --- Macroeconomics --- Infrastructure --- Trade: General --- International Investment --- Long-term Capital Movements --- Nonprofit Organizations and Public Enterprise: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Labor Economics: General --- International economics --- Finance --- Currency --- Foreign exchange --- Public ownership --- nationalization --- Banking --- Labour --- income economics --- Exports --- Foreign direct investment --- Imports --- Public enterprises --- International trade --- Labor --- Balance of payments --- Economic sectors --- Investments, Foreign --- Government business enterprises --- Labor economics --- China, People's Republic of --- Income economics --- Nationalization