Strengthening the banking system and expanding its role in resource mobilization and allocation have been key components of recent economic reform policies in the People's Republic of China. This study of China's financial system focuses on new policies and reforms undertaken since 1976, including institutional restoration, proliferation, and decen

William Byrd is a Ph.D. candidate in the department of economics at Harvard University.

Introduction -- Institutional Framework -- Policy and Performance, 1949-1976 -- Banking Reforms, 1976-1982: Background and Chronological Review -- Evaluation of Main Banking Reforms and Policy Changes -- Investment Financing -- Eastern European Banking Reforms: The Lessons for China -- Conclusions -- Tables