Abstract
This chapter presents a study of Chinese financial hierarchy; talks about how economic and financial development are related to financial liberalization, repression, and national instability; defines authorities and responsibilities of central and local governments for financial regulation; and offers tentative measures for effectively promoting local financial development.
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Notes
- 1.
The 463 Plan means that, in the four years beginning in 2008, Foshan was the catalyst for at least 100 Foshan-based enterprises that carried out the transformation of a joint-stock system or started public listing procedures, including 60 companies that went public. If they proved successful either at home or abroad, they would raise about RMB 30 billion.
- 2.
CEPA Supplementary Agreement VI was introduced on May 9, 2009, and was officially enacted on October 1, 2009. It was designed to further enhance economic and trade exchanges as well as cooperation between mainland China and Hong Kong. Under the agreement, mainland China agreed to take 29 market-opening measures, one-third of which were to be tried first in Guangdong province. These measures cover aspects of law, convention and exhibition, public utilities, telecommunications, banks, securities, maritime transportation, and railway transportation.
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Chen, Y. (2021). Local Economic Development and Financial Support—A Study of Chinese Financial Hierarchy. In: National Finance. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-33-6092-1_3
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DOI: https://doi.org/10.1007/978-981-33-6092-1_3
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Publisher Name: Palgrave Macmillan, Singapore
Print ISBN: 978-981-33-6091-4
Online ISBN: 978-981-33-6092-1
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