The Chinese Banking System: Between State Control and Adaptation to International Standards

Today’s China and its economic governance are facing a lot of questions. Understanding Chinese’s banking system, its structure and its regulatory framework give us the chance to better apprehend the country’s economic system. This system has undergone and is still undergoing major reforms. It was entirely dependent on the policy under the communist regime, and since the opening, the country has gradually adapted to international standards. Its structure has evolved and banking laws are modelled gradually to global agreements. However, the Chinese banking system is still under the domination of the government at all levels. Is the banking system really being adapted to international norms or is it just an illusion? What is the scope of the government to continue its reforms?