China’s Financial Opening: Coalition Politics and Policy Changes
Yu Wai Vic Li, "China’s Financial Opening: Coalition Politics and Policy Changes "
English | ISBN: 1138727547 | 2018 | 212 pages | EPUB | 634 KB
English | ISBN: 1138727547 | 2018 | 212 pages | EPUB | 634 KB
The twenty-first century has not only seen China become one of the world’s largest trading nations, but also its gradual integration into the global financial system. Chinese-sponsored project financing schemes, such as the Belt-and-Road Initiative and the Asian Infrastructure Investment Bank, and the expanding international footprint of the renminbi, have raised the specter of Beijing shaping established market rules and practices with its financial firepower. These dramatic developments beyond the "Great Wall of Money" have overshadowed the equally remarkable opening of China’s domestic capital markets. These include initiatives that make cross-border equity trade and investment easier; attempts to internationalize exclusively domestic-oriented equity markets; and creation of the first offshore renminbi hub in Hong Kong, paving the way for the "big bang" of renminbi use worldwide.
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