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Le système bancaire chinois : un risque systémique ?

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  • Guy Longueville
  • Nhu-Nguyen Ngo

Abstract

[eng] Chinese banking system : a systemic risk ? . In China, banks remain the pillar of the financial system, in spite of the recent development of domestic capital markets. Their capacity to collect an abundant savings allows a rapid credit expansion and contributes to supporting strong growth during last decade. However, such a colossus is weakened by the legacy of a centrally administrated economy where large State interventionism has generated deep misallocation of financial resources and led to a deterioration of assets quality of banks. The characteristics of the current economic cycle, primarily driven by massive investments, exacerbate these structural weaknesses, especially in case of a downturn in sectors in oversupply and largely financed by State banks. Nevertheless, banking restructuring is underway and the authorities have some leeway to face the financial risks and challenges linked to a possible reversal of the economic cycle and to the needed reforms. . JEL classification : G21, O16, O53 [fre] Malgré le développement récent d’un marché domestique de capitaux, le secteur bancaire reste le pilier du système financier. Par sa capacité à collecter une épargne abondante et à soutenir l’économie via une expansion rapide du crédit, il a contribué à la forte croissance des 10 dernières années. Toutefois, il reste fragilisé par l’héritage d’une économie administrée où un fort interventionnisme de l’État a introduit des dysfonctionnements dans l’allocation des ressources financières et a contribué à dégrader la qualité de l’actif des banques. Les caractéristiques du cycle économique actuel exacerbent ces faiblesses structurelles, notamment si les secteurs en surcapacité largement financés par les banques d’État venaient à s’infléchir. Néanmoins, les autorités ont engagé une restructuration du système bancaire. Elles disposent de certaines marges de manoeuvre pour faire face aux risques et défis financiers liés à un éventuel retournement du cycle économique et aux nécessaires réformes. . Classification JEL : G21, O16, O53

Suggested Citation

  • Guy Longueville & Nhu-Nguyen Ngo, 2004. "Le système bancaire chinois : un risque systémique ?," Revue d'Économie Financière, Programme National Persée, vol. 77(4), pages 187-202.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2004_num_77_4_4181
    DOI: 10.3406/ecofi.2004.4181
    Note: DOI:10.3406/ecofi.2004.4181
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    References listed on IDEAS

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    1. Mr. S. E Oppers, 1997. "Macroeconomic Cycles in China," IMF Working Papers 1997/135, International Monetary Fund.
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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