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Market integration in China
 
Author:Chen, Qingqing; Goh, Chor-Ching; Sun, Bo; Xu, Lixin Colin; Collection Title:Policy Research working paper ; no. WPS 5630
Country:China; Date Stored:2011/04/08
Document Date:2011/04/01Document Type:Policy Research Working Paper
SubTopics:Access to Finance; Economic Theory & Research; Emerging Markets; Banks & Banking Reform; Debt MarketsLanguage:English
Region:East Asia and PacificReport Number:WPS5630
Volume No:1 of 1  

Summary: Over the last three decades, China's product, labor, and capital markets have become gradually more integrated within its borders, although integration has been significantly slower for capital markets. There remains a significant urban-rural divide, and Chinese cities tend to be under-sized by international standards. China has also integrated globally, initially through the Special Economic Zones on the coast as launching grounds to connect with world markets, and subsequently through the accession to the World Trade Organization. For future policy considerations, this paper argues that its economic production needs to be spatially concentrated, and its social services need to be spread out to the interior to ensure harmonious development and domestic integration (through inclusive rural-urban transformations and effective territorial development).

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