This book traces the development of Chinaâs banking system through the first 25 years of Chinaâs socialist market economy up to the present. It examines how Chinaâs leaders have chosen their own path for reforming and regulating the banking sector and shows how this approach has differed significantly from the neoliberal approach promoted by the West. The book demonstrates the effectiveness of the Chinese approach contrasting Chinaâs relative success in weathering the Asian financial crisis with the huge disruption experienced by other East and Southeast Asian nations which had followed the neoliberal model much more closely. The book explains how Chinaâs officials were able to resist the persistent efforts of foreign financial institutions to gain control of Chinaâs financial sector particularly around the time of Chinaâs entry to the World Trade Organization. It argues that Chinaâs increasing influence in international financial institutions after the global financial crisis can help mitigate the risk of future financial crises and promote global financial stability. . Language: English