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About this book

“National finance” is a new concept launched by the author in his book National Finance ─ A Chinese Perspective, a unique monograph that differs from other financial publications dealing with general topics in public finance. The monograph intends to provide a full, well-developed and macro-level exposition of all major aspects of finance from the perspective of the central government, with focus laid on the most essential, immediate and intricate issues in national financial development, which are the "hard nuts" that have to be cracked on both central and regional levels and on the fronts of both offshore and onshore finance. It attempts to cope with a series of formidable challenges that a country, particularly its top government officials, must take in developing finance: how national finance should develop and overtake in the face of rising financial industries, how it should respond to the influx of AI+blockchain technologies, how a country guards against and copes with systematic or regional financial risks with security, fluidity and profitability serving as its cornerstones, how it can build up and promote the new international financial system and governance amid international financial powers around the world, and so on.

Table of Contents

Frontmatter

1. The Concept of “Big Finance” and the National Policy of a Strong RMB—A Policy Study of the Top-Level Design and Layout of Chinese Finance

Abstract
This chapter discusses the concept of “big finance,” the positioning of the modern financial system, its structure comprising the financial market system, the financial organization system, legal system, regulation system, environment system, and infrastructure, as well as financial, monetary, exchange rate, and regulatory policies for such a system. It ends up by exploring the national policy of a strong RMB from the perspective of the top-level design and layout of finance in China.
Yunxian Chen

2. The “Twin-Peak” Model for Financial Regulation—A Review of Financial Regulatory and Coordinating Measures in China

Abstract
This chapter starts by comparing the financial regulation systems in America, the UK, and the EU and modes of financial regulation so as to bring out their differences and similarities and provide justification for the selection of the “twin-peak” model for financial regulation in China.
Yunxian Chen

3. Local Economic Development and Financial Support—A Study of Chinese Financial Hierarchy

Abstract
This chapter presents a study of Chinese financial hierarchy; talks about how economic and financial development are related to financial liberalization, repression, and national instability; defines authorities and responsibilities of central and local governments for financial regulation; and offers tentative measures for effectively promoting local financial development.
Yunxian Chen

4. The Establishment of an Onshore Transaction Clearing Center for RMB Offshore Business—Explorations in the Interactive Model for Internal and External Finance

Abstract
This chapter discusses the interactive model for internal and external finance through integration and internationalization of offshore and onshore markets and the rationale, mode selection, basic framework and system, general principles, effective measures, and rules for the design of offshore-onshore connections in China.
Yunxian Chen

5. The Settlement of “Carbon Emissions Trading” in RMB—Explorations in China’s Pathway of “Overtaking on the Curve” in Finance

Abstract
This chapter starts by discussing the Kyoto Protocol, carbon emissions rights and carbon emissions trading, as well as the formation of carbon commodities, forwards, futures, options, funds, and markets. After an analysis of the status quo of carbon market development in the EU, the US, Asia, and China, it proposes a scheme for the settlement of “carbon emissions trading” in RMBChina’s pathway of “overtaking on the curve” in finance.
Yunxian Chen

6. The Present and Future of China’s Internet Finance—The Trend of FinTech Innovation in China

Abstract
This chapter talks about the trend of FinTech innovation on the basis of the analysis of the current situation and future development of China’s Internet finance. It begins with a comparative overview of the development of online banking, electronic currency, and Internet finance in China and abroad and ends with the unique risks of Internet finance and the effective measures of China’s promoting steady development of Internet finance.
Yunxian Chen

7. The Prevention and Diffusion of Systematic or Regional Financial Risks—The Methodology for China to Resolve Financial Crises

Abstract
This chapter defines and classifies financial risks and crises, offers a description of major financial crises in the world history and the ways of governments worldwide dealing with them, and puts forward preventive measures and methodology China may adopt to resolve financial crises.
Yunxian Chen

8. Innovation and Improvement of the International Financial Architecture—China’s Plan for Engagement in International Finance

Abstract
This chapter discusses the structure of international financial institutions, the innovation and improvement of the international financial infrastructure, the primary importance in coordinating international financial regulation, and China’s engagement in building international financial architecture.
Yunxian Chen

Backmatter

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