China Financial Sector Assessment

China Financial Sector Assessment

Since the 2011 financial sector assessment program (FSAP), China’s economic growth has remained strong, although a necessary economic transformation is underway. China now has the world’s largest gross domestic product (GDP) in public private...

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Bibliographic Details
Main Authors: World Bank, International Monetary Fund
Format: Report
Language:English
Published: World Bank, Washington, DC 2017
Subjects:
FINANCIAL SYSTEM
RISK ASSESSMENT
LEGAL FRAMEWORK
MACROPRUDENTIAL POLICY
OVERSIGHT
BANKING SUPERVISION
SECURITIES
INSURANCE
AML/CFT
INFRASTRUCTURE
CRISIS MANAGEMENT
FINANCIAL SAFETY NETS
DEBT
FINANCIAL INCLUSION
CAPITAL MARKETS
POLICY BANKS
Online Access:http://documents.worldbank.org/curated/en/361891512597572360/China-Financial-sector-assessment
http://hdl.handle.net/10986/28991
id okr-10986-28991
recordtype oai_dc
spelling okr-10986-289912021-09-11T05:10:32Z China Financial Sector Assessment World Bank International Monetary Fund FINANCIAL SYSTEM RISK ASSESSMENT LEGAL FRAMEWORK MACROPRUDENTIAL POLICY OVERSIGHT BANKING SUPERVISION SECURITIES INSURANCE AML/CFT INFRASTRUCTURE CRISIS MANAGEMENT FINANCIAL SAFETY NETS DEBT FINANCIAL INCLUSION CAPITAL MARKETS POLICY BANKS Since the 2011 financial sector assessment program (FSAP), China’s economic growth has remained strong, although a necessary economic transformation is underway. China now has the world’s largest gross domestic product (GDP) in public private partnership (PPP) terms, and poverty rates have fallen. However, medium-term growth prospects have moderated. The economic transformation requires a fundamental change in the role of the financial system. Although longer-term objectives are clear, policymakers continue to face challenges in balancing short-term growth concerns with long-term financial stability and sustainability. The slow pace of state-owned enterprise (SOEs) reform and limited exit of weak firms have resulted in efficiency losses and reinforced the perception of implicit guarantees. Contingent fiscal liabilities have also grown rapidly. Addressing these tensions is challenging in the context of the strong presence of the state in the financial sector. Maintaining financial stability will also require that remaining gaps in regulatory frameworks be addressed. Further enhancements to crisis management frameworks are needed to allow financial institutions to fail in a manner that minimizes the impact on financial stability and public resources. 2017-12-11T19:05:32Z 2017-12-11T19:05:32Z 2017-11 Report http://documents.worldbank.org/curated/en/361891512597572360/China-Financial-sector-assessment http://hdl.handle.net/10986/28991 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program East Asia and Pacific China
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic FINANCIAL SYSTEM
RISK ASSESSMENT
LEGAL FRAMEWORK
MACROPRUDENTIAL POLICY
OVERSIGHT
BANKING SUPERVISION
SECURITIES
INSURANCE
AML/CFT
INFRASTRUCTURE
CRISIS MANAGEMENT
FINANCIAL SAFETY NETS
DEBT
FINANCIAL INCLUSION
CAPITAL MARKETS
POLICY BANKS
spellingShingle FINANCIAL SYSTEM
RISK ASSESSMENT
LEGAL FRAMEWORK
MACROPRUDENTIAL POLICY
OVERSIGHT
BANKING SUPERVISION
SECURITIES
INSURANCE
AML/CFT
INFRASTRUCTURE
CRISIS MANAGEMENT
FINANCIAL SAFETY NETS
DEBT
FINANCIAL INCLUSION
CAPITAL MARKETS
POLICY BANKS
World Bank
International Monetary Fund
China Financial Sector Assessment
geographic_facet East Asia and Pacific
China
description Since the 2011 financial sector assessment program (FSAP), China’s economic growth has remained strong, although a necessary economic transformation is underway. China now has the world’s largest gross domestic product (GDP) in public private partnership (PPP) terms, and poverty rates have fallen. However, medium-term growth prospects have moderated. The economic transformation requires a fundamental change in the role of the financial system. Although longer-term objectives are clear, policymakers continue to face challenges in balancing short-term growth concerns with long-term financial stability and sustainability. The slow pace of state-owned enterprise (SOEs) reform and limited exit of weak firms have resulted in efficiency losses and reinforced the perception of implicit guarantees. Contingent fiscal liabilities have also grown rapidly. Addressing these tensions is challenging in the context of the strong presence of the state in the financial sector. Maintaining financial stability will also require that remaining gaps in regulatory frameworks be addressed. Further enhancements to crisis management frameworks are needed to allow financial institutions to fail in a manner that minimizes the impact on financial stability and public resources.
format Report
author World Bank
International Monetary Fund
author_facet World Bank
International Monetary Fund
author_sort World Bank
title China Financial Sector Assessment
title_short China Financial Sector Assessment
title_full China Financial Sector Assessment
title_fullStr China Financial Sector Assessment
title_full_unstemmed China Financial Sector Assessment
title_sort china financial sector assessment
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/361891512597572360/China-Financial-sector-assessment
http://hdl.handle.net/10986/28991
_version_ 1764468212994408448

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