{"id":3063,"date":"2017-02-07T11:56:30","date_gmt":"2017-02-07T01:56:30","guid":{"rendered":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/?p=3063"},"modified":"2017-02-16T13:36:20","modified_gmt":"2017-02-16T03:36:20","slug":"banking-on-growth-models","status":"publish","type":"post","link":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/banking-on-growth-models\/","title":{"rendered":"Banking on growth models"},"content":{"rendered":"<p>Perhaps one of the most perplexing issues to haunt China\u2019s political economy has been the fact that rapid economic growth has been achieved on the back of a fragile banking and financial system. It is also perplexing that non-performing loans (NPLs) in the main state-owned banks continue to mount despite significant banking reforms in the 1990s and 2000s in terms of national legislation, corporate governance, prudential regulation, and external competition.<\/p>\n<p>On the one hand, banking and finance is seen by many as a fiercely contested arena of competing factions within the ruling Communist Party, with the banking and financial system seen as no more than an ATM for the state sector and a white glove for the Party to sustain its mostly corrupt regime; so much so that the chronic accumulation of debt is now seen as a structural feature in China\u2019s political economy. On the other hand, some commentators have emphasized that a transformation of the banking system has been underway in the last decade in which the more efficient private sector has enjoyed expanded access to credit. From this perspective, if well managed, it has been argued that it may be possible for China to \u2018muddle through\u2019 the various traps and sustain a reformed banking system and slower but healthier economic growth model.<\/p>\n<p>Please click here to read the full &#8220;<a href=\"https:\/\/cpianalysis.org\/2017\/02\/06\/banking-on-growth-models\/\">Banking on growth models<\/a>&#8221; article in China Policy Institute by Griffith Asia Institute Senior Research Fellow, Dr. Hui (Steven) Feng.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Perhaps one of the most perplexing issues to haunt China\u2019s political economy has been the fact that rapid economic growth has been achieved on the back of a fragile banking and financial system. It is also perplexing that non-performing loans (NPLs) in the main state-owned banks continue to mount despite significant banking reforms in the [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":3069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[245],"tags":[284,300,503],"class_list":["post-3063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china-and-north-east-asia","tag-china","tag-dr-hui-feng","tag-finance"],"acf":[],"modified_by":"Christine Kowalski","yoast_head":"<!-- This site is optimized with the Yoast SEO 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This strategy, called the \u2018dual-circulation\u2019 strategy, was proposed by President\u2026","rel":"","context":"In &quot;Business and innovation&quot;","block_context":{"text":"Business and innovation","link":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/category\/business-and-innovation\/"},"img":{"alt_text":"Regional Outlook | Household consumption, domestic demand, and challenges to China\u2019s grand economic rebalancing","src":"https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2024\/01\/socials-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2024\/01\/socials-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2024\/01\/socials-2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2024\/01\/socials-2.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":6792,"url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/determinants-of-private-sector-credit-in-papua-new-guinea\/","url_meta":{"origin":3063,"position":4},"title":"Determinants of private sector credit in Papua New Guinea","author":"Griffith Asia Institute","date":"6 January 2020","format":false,"excerpt":"SOLOMON KASINGU, GAIL SABOK, DIANA TUAM, JECONIAH HAMUA, JEN-JE SU AND PARMENDRA SHARMA | It is widely accepted that finance is sine qua non for start-up, establishment and expansion of a private sector enterprise; capital is indeed critical for operational as well non-operational activities.\u00a0 Generally, the capital structure encompasses a\u2026","rel":"","context":"In &quot;Feature series&quot;","block_context":{"text":"Feature series","link":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/category\/publication\/feature-series\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2020\/01\/PNG-money-counter-900x500-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2020\/01\/PNG-money-counter-900x500-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2020\/01\/PNG-money-counter-900x500-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/testblogs.griffith.edu.au\/asiainsights\/wp-content\/uploads\/sites\/2\/2020\/01\/PNG-money-counter-900x500-1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":10817,"url":"https:\/\/testblogs.griffith.edu.au\/asiainsights\/chinas-two-sessions-2024-highlights-from-green-development-energy-transition-green-finance-carbon-market-and-belt-and-road-initiative\/","url_meta":{"origin":3063,"position":5},"title":"China\u2019s Two Sessions 2024: highlights from green development, energy transition, green finance, carbon market and Belt and Road Initiative","author":"Griffith Asia Institute","date":"20 March 2024","format":false,"excerpt":"JING ZHANG AND\u00a0CHRISTOPH NEDOPIL\u00a0\u00a0| China's annual Two Sessions[i] opened on 4 March 2024 and lasted for seven days (typically, the two sessions last about ten days). 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