A Study on China’s Process of Marketization [4]
论文作者:佚名论文属性:短文 essay登出时间:2009-04-14编辑:黄丽樱点击率:8029
论文字数:2254论文编号:org200904141945367058语种:英语 English地区:中国价格:免费论文
关键词:studyChinaprocessmarketizationbusiness
China''s specialized banks has just begun, and the securitization of Chinese economy is still at a very low level (the combination of the total market value of stocks and the value of securitized debts in the developed economies is on average two times of the GDP). In an overall term, the development of the financial market is lagging behind. But we should say that as China''s financial market has already had a rough framework and a foundation for further development, the financial marketization should not be underestimated.
Table 5 Development of China''s Financial Market
Year Currency supply (M2) Total market value of stocks (S) Year-end balance of bonds
(B)
M2 (100m yuan) M2/GDP S (100m yuan) S/GDP B (100m yuan) B/GDP
1996 76095 112% 9842 14.5% 7380 11.0%
2000 134610 151% 48091 53.8% 14536 16.5%
Data source: China Statistical Yearbook, 2001
(3) Marketization in China''s Different Regions
China is a large developing country and as such the process of marketization is uneven among different provinces, municipalities and autonomous regions. In a regional term, the process of marketization in the eastern region is visibly faster than that in the central and western regions. This has been proven by various studies. To indicate the specific conditions of the provinces, municipalities and autonomous, we list the following two sets of research results for comparison and reference (see table 6). The drastic disparity of marketization between different regions is both a manifestation of the uneven process of China''s marketization and an indication that the process of building a unified China market is far from being completed.
Table 6 Marketization Indexes of China''s Provinces, Municipalities and Autonomous Regions
1999 (Fan Gang et al.)a
Region Rank Points Region Rank Points
Guangdong 1 8.33 Anhui 16 5.40
Zhejiang 2 8.24 Sichuan 17 5.29
Fujian 3 7.28 Guangxi 18 5.28
Jiangsu 4 7.04 Jiangxi 19 5.12
Hebei 5 6.70 Shanxi 20 4.57
Shanghai 6 6.59 Jilin 21 4.51
Tianjin 7 6.58 Shaanxi 22 4.48
Beijing 8 6.30 Gansu 23 4.02
Shandong 9 6.22 Heilongjiang 24 3.97
Hunan 10 5.99 Guizhou 25 3.86
Henan 11 5.97 Inner Mongolia 26 3.45
Hainan 12 5.65 Yunnan 27 3.39
Liaoning 13 5.60 Xinjiang 28 2.90
Chongqing 14 5.57 Ningxia 29 2.69
Hubei 15 5.53 Qinghai 30 2.00
1995 (Chen Zongsheng et al.)b
Regon Rank Points Region Rank Points
Beijng 1 0.85 Hunan 16 0.29
Shanghai 2 0.62 Shaanxi 17 0.28
Guangdong 3 0.50 Henan 18 0.27
Tianjing 4 0.49 Guangxi 19 0.26
Liaoning 5 0.43 Yunnan 20 0.25
Hunan 6 0.41 xinjiang 21 0.25
Zhejiang 7 0.40 Ningxia 22 0.23
Jilin 8 0.38 Sichuan 23 0.23
Jiangsu 9 0.38 Jiangxi 24 0.23
Fujian 10 0.36 Inner Mongolia 25 0.21
Shandong 11 0.32 Anhui 26 0.21
Hubei 12 0.32 Qinghai 27 0.20
Heilongjiang 13 0.31 Gansu 28 0.20
Hebei 14 0.30 Tibet 29 0.18
Shanxi 15 0.30 Guizhou 30 0.13
Data source: See bibliography.
Note: a: The indicator is a relative indicator, ranging from I to 10. The gre
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