Download or read book Pension Reform and Capital Market Development in China written by Yanni Chen and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China s Pension Reforms written by Ke Meng and published by Routledge. This book was released on 2018-09-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing literature has looked at many factors which have shaped Chinese pension reforms. As China’s pension reform proceeds in an expanding and localising fashion, this book argues that there is a pressing need to examine it in the context of China’s political institutions and economic transformations. The book takes a unique approach by looking at political institutions of the Chinese state and the changing conditions of the Chinese economy, which rarely receive proper treatment in the current analysis of China’s pension reforms.
Download or read book Pension Reform and Capital Market Development written by Dimitri Vittas and published by World Bank Publications. This book was released on 2000 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private pension funds are neither necessary nor sufficient for capital market development. But if they are subject to conducive regulations, adopt optimizing policies, and operate in a pluralistic structure, they can have a large impact on capital market modernization and development once they reach a critical mass.
Download or read book China s Pension System written by Mark C. Dorfman and published by World Bank Publications. This book was released on 2013-03-08 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive reform of China s pension and social security system is an essential element of achieving its objectives of a harmonious society and sustainable development.
Download or read book Pension Reform Investment Restrictions and Capital Markets written by Mr.Jorge Roldos and published by International Monetary Fund. This book was released on 2004-09-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform in several emerging market countries has been associated with rapid growth in assets under management and a positive impact on the development of local securities markets. However, limitations on such development may lead to asset price distortions, bubbles, and concentration of risks. Regulatory limits on pension fund investments are assessed in light of these risks and developments in modern portfolio theory. A gradual but decisive loosening of restrictions on equity and foreign investments is recommended. Changes in these regulations ought to be coordinated with measures designed to foster the development of local securities markets as well as with macroeconomic policies.
Download or read book China Pension System Reform written by World Bank. Resident Mission in China and published by . This book was released on 1996 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Chinese Economists on Economic Reform Collected Works of Li Jiange written by Jiange Li and published by Taylor & Francis. This book was released on 2016-10-04 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is part of a series which makes available to English-speaking audiences the work of the individual Chinese economists who were the architects of China’s economic reform. The series provides an inside view of China’s economic reform, revealing the thinking of the reformers themselves, unlike many other books on China’s economic reform which are written by outside observers. Li Jiange (1949-) is one of the most notable and powerful economists holding office in China at present. He is currently the Vice-Chairman of the Central Huijin Investment Company, one of the most influential financial institutions in China. He is also a member of the National Committee of the Chinese People’s Political Consultative Conference, and a Professor at the Chinese Academy of Social Sciences and other academic institutions. He has held many important positions in the state Research Office and the Department of Policies, Laws, and Regulations, and has been Director of the China Securities Regulatory Commission. His work has included major contributions to debates about maintaining financial stability, about achieving equitable income distribution, and about China’s overall economic development. The book is published in association with China Development Research Foundation, one of the leading economic and social think tanks in China, where many of the theoretical foundations and policy details of economic reform were formulated.
Download or read book Pension Reform and Capital Market Development Feasibility and Impact Preconditions written by Dimitri Vittas and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Heart of Economic Reform written by Donald Daochi Tong and published by Routledge. This book was released on 2017-11-22 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2002.Banking reform lies at the heart of economic reform in China and is central to sustaining the countries high economic growth. This timely book covers an important economic policy issue in China, namely the existing and potential roles of the financial sector in the development of the Chinese economy. It explores for the first time the relationship between the reforms of the financial sector, of state-owned enterprises (SOEs) and of the social welfare system. Donald D. Tong presents a wealth of valuable data accompanied by original insights and interpretations. The author also examines the original estimates of the cost of the social welfare burden given that social services such as old age pension, housing, healthcare and education are provided by the SOEs rather than by the private or public sector directly.
Download or read book China s Pension Reform Its Impact on Household Savings and Interaction with Financial Market written by Wei Li and published by . This book was released on 2002 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investing in Human Capital for Economic Development in China written by Gordon G. Liu and published by World Scientific. This book was released on 2010 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a reflection of the current research that explores the mechanism, dynamics and evidence of the impact of human capital on economic development and social well-being in modern China. Composed of keynote speeches and selected papers from The 2005 International Conference of the Chinese Economists Society (www.china-ces.org), it tracks the latest understanding and empirical evidence of the relationships amongst health, education and economic development in China. The book presents a broad spectrum of study topics covering human capital and economic growth; demand, attainment and disparity in both education and health; and investing in human capital and the economic and social returns in China. Distinguished contributors include Robert Fogel, Michael Grossman, Daniel Hamermesh, Gregory Chow and Dean Jamison.
Download or read book Unfinished Reforms in the Chinese Economy written by Jun Zhang and published by World Scientific. This book was released on 2013 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has quickly moved into a critical point in the sense that its past performance in economic growth and development has created so many unsolved problems, and for such problems to be addressed, a better understanding of these problems and a clear policy framework are required for policy makers to conduct reforms. Based on highOColevel empirical research on China''s economic development by each of the contributors, this edited book provides an in-depth and clear analysis of many of important issues facing China''s move to new phase of economic development and transformation, and discusses policy issues involved in further reforms.
Download or read book From Status Based Privilege to Old Age Security written by Qian Hao and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform poses a formidable challenge to China's development and has become a topic of intensive debate in recent years. Nonetheless, various reform measures based on legislations adopted since the 1980s have largely failed to be implemented, including the 1997 three-pillar pension plan. While the current debate on pension reform in China centers on how to address the financial crisis of the public pension system, this article argues that widening pension deficit has been only a symptom rather than the root cause of the reform stalemate. China's old socialist pension benefits were developed as a status-based privilege rather than provision of old age economic security. As China transits from a centrally planned economy to a market economy, the old pension system has increasingly become inadequate and inequitable. The remaining socialist pension obligations are incompatible with the emerging market, and the majority of the population is exposed to market risks without protection in retirement. However, those structural challenges have not been successfully addressed by deficit-driven reform plans or short-sighted measures that focus on having current workers pay for the heavy cost of pensions for retirees under the previous system. The right reform strategy will require that efforts be redirected towards addressing the fundamental transition issues.
Download or read book The Handbook of China s Financial System written by Marlene Amstad and published by Princeton University Press. This book was released on 2020-11-17 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, in-depth, and authoritative guide to China's financial system The Chinese economy is one of the most important in the world, and its success is driven in large part by its financial system. Though closely scrutinized, this system is poorly understood and vastly different than those in the West. The Handbook of China’s Financial System will serve as a standard reference guide and invaluable resource to the workings of this critical institution. The handbook looks in depth at the central aspects of the system, including banking, bonds, the stock market, asset management, the pension system, and financial technology. Each chapter is written by leading experts in the field, and the contributors represent a unique mix of scholars and policymakers, many with firsthand knowledge of setting and carrying out Chinese financial policy. The first authoritative volume on China’s financial system, this handbook sheds new light on how it developed, how it works, and the prospects and direction of significant reforms to come. Contributors include Franklin Allen, Marlene Amstad, Kaiji Chen, Tuo Deng, Hanming Fang, Jin Feng, Tingting Ge, Kai Guo, Zhiguo He, Yiping Huang, Zhaojun Huang, Ningxin Jiang, Wenxi Jiang, Chang Liu, Jun Ma, Yanliang Mao, Fan Qi, Jun Qian, Chenyu Shan, Guofeng Sun, Xuan Tian, Chu Wang, Cong Wang, Tao Wang, Wei Xiong, Yi Xiong, Tao Zha, Bohui Zhang, Tianyu Zhang, Zhiwei Zhang, Ye Zhao, and Julie Lei Zhu.
Download or read book How Can China Solve Its Old Age Security Problem The Interaction Between Pension SOE and Financial Market Reform written by Estelle James and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Like most countries, China faces a rapidly aging population. In fact, China is aging more rapidly than practically any other country. In 1990 only 9% of China's population was over the age of 65, but by 2030 this proportion will more than double, to 22%. More than a quarter of the world's old people will live in China by 2030. And the absolute number of workers will actually decline, as fertility rates are below replacement levels. While population aging is a long run phenomenon, it has become apparent even in the short run, as social security deficits become larger and more widespread every year. Moreover, these rapidly expanding pension obligations are especially troublesome in China because, until recently, they were a liability of state enterprises and a major obstacle to enterprise restructuring. The Chinese government is well aware of the looming social security crisis and is determined to do something about it. Prefunding and unifying a fragmented system are at the heart of its projected reforms. The plan is to set up individual accounts for each worker, with funds that are productively invested. This is similar to reforms that have been sweeping Latin America, Eastern Europe and are now being considered in the United States. Besides making the system more fiscally sustainable and avoiding peak contribution rates, prefunding can be used to increase saving that is committed for long term investments and pension funds can be used as engines of financial market development and corporate governance. However, in China these reforms are retarded by three key factors: 1) transition costs must be covered in any move toward prefunding, and the Chinese government is still trying to figure out how to accomplish this; 2) the current social security system is characterized by fragmentation and decentralized administration, which lead to principal-agent/moral hazard issues that make it more difficult to cover transition costs, decrease early retirement and increase compliance; 3) the funds that have accumulated have not been invested in diversified portfolios by private competitive management and have not earned a high rate of return. This paper focuses on these three problems as well as the complex interactions between pension, financial market and SOE reform. Part I describes the historical background of old age security in China - how it was provided during the cultural revolution, how this became inappropriate as China moved toward a market economy, and the steps that were taken by the government during the 1980's and early 1990's to resolve this inconsistency. Part II describes the new multi-pillar system, including a large prefunded defined contribution component, which was adopted, in principle, in the mid-1990's. Part III analyzes three key implementation problems that remain to be solved - the transition cost conundrum, the tensions inherent in unifying a fragmented system, and the difficulty in as well as the critical importance of investing productively and earning a high rate of return on the funds. We summarize the bold steps that the government has announced during the past few months (2001) to link pension, financial market and SOE reform. How these plans will be effectuated remains to be seen.
Download or read book Governance and Fund Management in the Chinese Pension System written by Yu-Wei Hu and published by International Monetary Fund. This book was released on 2009-11-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the key components of the system, highlights the progress made to date and identifies remaining weaknesses, in regard to information disclosure, the governance framework and pension fund management standards.
Download or read book China 2049 written by David Dollar and published by Brookings Institution Press. This book was released on 2020-06-09 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
