Market-oriented Reform of China's Commercial Banks within China's Transition Process rethinking after the 2008 Crisis

摘要

@@This paper is a follow-up from my thesis wrote in 2006 and will check the main findings with the new data released after 2004. Since 2004, Chinese banking were opening up and Chinese biggest banks were listed one by one, with helps from foreign strategic investors. While, since the failure of Lehman Brothers in September 2008, global financial crisis had forced globally rethinking of the financial system and its role in the economic development. This paper is trying to check why China's banking could performance better in post-financial crisis era. As supported by the experience in 1978-2004, this paper continues to analyse the development of China's banking sector through an interlinked mechanism, by which China's banking sector supported the economic growth from both macro and micro perspectives. In this paper, I found that China's banking are designed and developed in the way to support economic growth as main function. The rest of this paper is organized as three parts: in the first part, the interlinked mechanism is reviewed; the second part is a survey on the facts since 2004; in the last part, main findings are summarized.