Early Shoots of Informal Finance

  • Andrew Collier


This chapter delves into the origins of informal finance in China. It provides a brief summary of the early days of financial and economic reform under Deng Xiao Ping and the power struggles that ensued within the leadership in Beijing, drawing on work by Susan Shirk, among others. It then incorporates the changes in the banking system with the establishment of the state banks and the importance of the concept of “financial repression” to China’s economy and fiscal system. The author describes some of the early forms of financial intermediation such as rural credit cooperatives.


Interest Rate Central Bank Banking System Private Firm Bank Loan 
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Copyright information

© The Author(s) 2017

Authors and Affiliations

  • Andrew Collier
    • 1
  1. 1.Orient Capital ResearchHong KongHong Kong

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