The impacts of the recent global financial crisis on Chinese financial system Online publication date: Sat, 16-Aug-2014
by J. Chen; Xuebin Chen
International Journal of Value Chain Management (IJVCM), Vol. 6, No. 1, 2012
Abstract: The recent global financial and economic crisis has important impacts on the world economic and financial system. This paper discusses its impacts on Chinese financial system and the challenges faced by Chinese financial industry in the post-crisis era. The direct impacts of crisis on Chinese financial system are relatively smaller than on other countries. The main reasons are the Chinese banking sector reform, the large spin-off of non-performing assets, the injection of capital by the government and the Chinese banking sector remains highly regulated and localised without much room for innovative market pursuit. But China's financial industry will face major challenges in the post-crisis era. The lessons learned from the financial crisis and the impacts on Chinese financial system development are also mentioned.
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