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    Corporate Governance in Banking and Economic Performance - Future Options for People’s Republic of China

    Ferri, Giovanni | August 2003
    Abstract
    Enhancing the corporate governance of banks in PRC requires looking at the overarching progress of the transition to a market economy. The landscape of the Chinese economic structure has been transformed after a quarter century of economic reform. As it stands now, 70 per cent of GDP is contributed by the non-state sector, where a major wave of new unfettered capitalists emerged. Nevertheless, the continued involvement of the government has created severe agency problems, particularly through the sick relationship between State Owned Enterprises (SOEs) and State Owned Commercial Banks (SOCBs), two segments of the Chinese economy where the gradualist approach didn’t fasten adequate structural adjustment thus loading unbearable amounts of NPLs at banks. The role of the government in the economy will have to evolve from the previous “owner and player” in the economy to that of “rule-setter and regulator”. To reflect this reality, political interference in the banking sector should be cut off. We argue that ownership diversification represents an effective first step in the direction of improving the corporate governance of banks in PRC with the long-term goal of reducing the ownership role of the central government in the banking sector.
    Citation
    Ferri, Giovanni. 2003. Corporate Governance in Banking and Economic Performance - Future Options for People’s Republic of China. © Asian Development Bank. http://hdl.handle.net/11540/3591. License: CC BY 3.0 IGO.
    Keywords
    Regional Development Finance
    Public Scrutiny of City Finances
    Non-Bank Financial Institutions
    Local Government Finance
    Government Financial Institutions
    Foreign and Domestic Financing
    Financial Risk Management
    Assessing Corporate Governance
    Good Governance
    Governance Approach
    Public Accounting
    Business Financing
    Subsidies
    Social Equity
    Economic Equity
    Project Risks
    Project Impact
    Public Administration
    Corporations
    Investment Requirements
    Banks
    |Taxing power
    Tax administration and procedure
    Tax policy
    Effect of taxation on labor supply
    Decentralization in government
    Community power
    Corporate divestment
    Civil government
    Delegation of powers
    Equality
    Neighborhood government
    Subnational governments
    Delivery of government services
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/3591
    Metadata
    Show full item record
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    PDF (623.8Kb)
    Author
    Ferri, Giovanni
    Theme
    Finance
    Governance

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise