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Fiscal and Financial Policy

In: Economic Policy of the People's Republic of China

Author

Listed:
  • Barbara Darimont

    (East Asia Institute of Ludwigshafen University of Business and Society)

  • Paul Gebel
  • Alyssia Reißler

Abstract

The Chinese financial market, the financial regulations, the importance of the financial market for the Chinese Communist Party as well as the effects of the Chinese financial policy on the global financial market are shown. To this end, the general financial and fiscal policy is first presented and the tax structure and the position of formal banks within the financial system are explained. Furthermore, the real estate bubble and the growing shadow banking sector are discussed. In contrast to traditional financial institutions, the FinTech market and crowdfunding are then introduced as potential sources of innovation and technology in the PRC. These passages highlight the elements that have contributed to China becoming a market leader in these areas. An attempt is made to answer the question to what extent the financial market in China is consolidated and what risks exist.

Suggested Citation

  • Barbara Darimont & Paul Gebel & Alyssia Reißler, 2023. "Fiscal and Financial Policy," Springer Books, in: Barbara Darimont (ed.), Economic Policy of the People's Republic of China, chapter 11, pages 187-233, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-38467-8_11
    DOI: 10.1007/978-3-658-38467-8_11
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