Banking Reforms and Monetary Policy in the People’s Republic of China: Is the Chinese Central Banking System Ready for Joining the WTO?

From 1993 to 1995 the People’s Republic of China undertook a series of reforms designed to modernize their banking and financial systems, the process of financial intermediation and to implement a sound and credible monetary policy in China. They based these reforms on the federal reserve system in the USA. This book analyses these reforms and assesses the effectiveness of the monetary policy that was put in place and shows whether it can withstand China’s accession to the World Trade Organization.