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China's National Balance Sheet (2015): Leverage Adjustment and Risk Management

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  • © 2018

Overview

Authors:
  1. Yang Li

    1. National Finance and Development Laboratory, Beijing, China

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  2. Xiaojing Zhang

    1. National Finance and Development Laboratory, Beijing, China

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    You can also search for this author in PubMed   Google Scholar

  3. Xin Chang

    1. Institute of Economics, CASS, Beijing, China

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  • Will help the academic community better grasp China’s national and sectoral balance sheets on the basis of scientific estimates of various kinds of data
  • Brings together a group of top scholars on the much-debated issues of development sustainability, government transformation, local government debt, welfare reform, financial opening-up and stability that are currently troubling China
  • The authors are prominent scholars in economics finance in contemporary China, specializing in banking, macroeconomics, finance and public economy

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xvi
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  2. General Report

    1. Front Matter

      Pages 1-1
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    2. Main Report: Leverage and Risk Management

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 3-20

    3. National Balance Sheet

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 21-29

    4. Sovereign Balance Sheet

      • Yang Li, Zhang Xiaojing, Chang Xin
      Pages 31-34

    5. Whole Society Leverage Ratio

      • Yang Li, Zhang Xiaojing, Chang Xin
      Pages 35-43

  3. Sectoral Analysis

    1. Front Matter

      Pages 45-45
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    2. Local Government Balance Sheet

      • Yang Li, Zhang Xiaojing, Chang Xin
      Pages 47-75

    3. Analysis of Central Government Balance Sheet

      • Yang Li, Zhang Xiaojing, Chang Xin
      Pages 77-86

    4. Balance Sheet of the Non-financial Corporation Sector

      • Yang Li, Zhang Xiaojing, Chang Xin
      Pages 87-101

    5. Balance Sheet of the Household Sector

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 103-108

    6. Financial Sector Balance Sheet

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 109-134

    7. The Central Bank Balance Sheet

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 135-160

    8. External Sector Balance Sheet

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 161-182

    9. Implicit Pension Debts and Reform of the Old-Age Insurance System

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 183-203

    10. Creating the Chinese Version of “Municipal Bonds”

      • Yang Li, Xiaojing Zhang, Xin Chang
      Pages 205-218

  4. Back Matter

    Pages 219-240
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Keywords

About this book

The book aims at perfecting the national governance system and improving national governance ability. It evaluates the balance sheets of the state and residents, non-financial corporations, financial institutions and the central bank, the central government, local government and external sectors – the goal being to provide a systematic analysis of the characteristics and trajectory of China’s economic expansion and structural adjustment, as well as objective assessments of short and long-term economic operations, debt risks and financial risks with regard to the institutional and structural characteristics of economic development in market-oriented reform. It puts forward a preliminary analysis of China’s national and sectoral balance sheets on the basis of scientific estimates of various kinds of data, analyzes from a new perspective the major issues that are currently troubling China – development sustainability, government transformation, local government debt, welfare reform, and the financial opening-up and stability – and explores corresponding policies, measures, and institutional arrangements. 

Authors and Affiliations

  • National Finance and Development Laboratory, Beijing, China

    Yang Li, Xiaojing Zhang

  • Institute of Economics, CASS, Beijing, China

    Xin Chang

About the authors

Li Yang, PhD in economics, CASS academician, member of the International Eurasian Academy of Sciences, President of the National Finance and Development Laboratory, and former vice president of CASS. His major research areas include banking, macroeconomics and finance. He has won the Sun Yefang Fiscal Science Awards five times, and the China Soft Science Award and Sun Yefang Financial Innovation Award in 2015.

Zhang Xiaojing, researcher, deputy director, Institute of Urban Development and Environment, CASS, deputy director of National Finance and Development Laboratory. His main research fields include open economy macroeconomics, growth theory and development economics. Having been a visiting scholar at the Stockholm School of Economics, Harvard University, the (US) National Bureau of Economic Research and the International Monetary Fund, he has won Sun Yefang Fiscal Science Award twice, the China Soft Science Award in 2015, and the Sun Yefang Financial InnovationAward in 2015, among others. 


Chang Xin, researcher at the Institute of Economics CASS. Her main research interests are macro economy, public economy and system economy. She was a visiting researcher at the Department of Economics, Yale University from August 2004 to August 2005, with the support of the Ford Foundation. She has published two monographs and more than 20 papers in Economic Research Journal, Economic Perspectives, etc. and has hosted or participated in more than 10 projects supported by the National Social Science Foundation or by CASS.


Bibliographic Information

  • Book Title: China's National Balance Sheet (2015): Leverage Adjustment and Risk Management

  • Authors: Yang Li, Xiaojing Zhang, Xin Chang

  • DOI: https://doi.org/10.1007/978-981-10-7733-3

  • Publisher: Springer Singapore

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: China Social Sciences Press and Springer Nature Singapore Pte Ltd. 2018

  • Hardcover ISBN: 978-981-10-7732-6Published: 04 April 2018

  • Softcover ISBN: 978-981-13-3990-5Published: 01 February 2019

  • eBook ISBN: 978-981-10-7733-3Published: 22 March 2018

  • Edition Number: 1

  • Number of Pages: XVI, 240

  • Number of Illustrations: 4 b/w illustrations, 91 illustrations in colour

  • Topics: Economic Policy, Governance and Government, Public Administration, Organizational Studies, Economic Sociology

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