#China’s responses to the shocks of the 2008 #GFC and its endeavors to rectify market order have led to significant reforms and developments in the financial industry in China, according to the paper “China’s Financial Development: A Global Perspective”: press-files.anu.edu.au/downloads/pres…
Policy suggestions put forward in the paper for future development of China’s financial sector:
1. The #banking sector should continue to play a leading role in China’s financial system for the foreseeable future.
2. Universal banking will be the preferred option.
3. The major tasks of banking regulatory reforms should be to strengthen capital, behavioural and functional regulations.
4. Increasing the proportion of direct financing, particularly equity financing,
5. Promoting #equity financing through multiple channels.
6. Developing and standardising the #bond market.
7. Building multilevel financial markets and introducing diversified financial products.
8. Perfect the modern #insurance market system.
9. Further insurance company reforms.
10. Accelerate development of the reinsurance market.
11. Steadily advance development of the intermediary agencies.
12. Comprehensively drive the market-oriented pricing of insurance premiums.
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