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The Intrinsic Logic Of China's Banking Industry Reform

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Chapter Summary

Chinas thirty years of reform and opening have been a process of transition from a planned economy to a socialist market economy and a process in which the characteristics of planned economy have gradually faded, while those of the market economy have gradually emerged. China first needed to define property rights. The market requires the right to equal exchange and the precondition of such exchange is to define property rights. As a result, in this process, China has broken up the family of banks multiple times. This chapter summarizes the intrinsic reasoning of banking industry reform by conducting a review of the three-decade market-oriented reform process of Chinas banking industry. Banking industry reform is an important part of Chinas transitional process from a planned economy to a market economy. Conducting a thorough analysis of banking industry reform will aid in understanding the intrinsic reasoning behind all of Chinas economic transition.

Keywords: banking industry reform; China; economic transition; intrinsic reasoning; market economy; market-oriented reform; property rights



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