Description
Book SynopsisThe People’s Bank of China surpasses the Federal Reserve as the world’s biggest central bank. In the first comprehensive account of the evolution of central banking and monetary policy in reform China, Stephen Bell and Hui Feng show how the PBC’s authority grew from a Leninist party-state that once jealously guarded its control.
Trade ReviewThe volume is accessible to readers at all levels and is valuable reading for anyone interested in the [People’s Bank of China] and the dynamics between the PBC and the Chinese party-state over the past 40 years. -- D. Li * Choice *
An innovative book that combines a close attention to institutional detail and politics, a good understanding of the broader China context, and an interesting theory-based argument. -- Barry J. Naughton, University of California, San Diego
The Rise of the People's Bank of China focuses on how the transition to a market economy provided an opportunity for the PBC to increase its authority in the party-state hierarchy and become a key player in deciding macroeconomic policy and financial reform. A significant book on China's central bank and an engaging, absorbing, and informative read. -- Leong H. Liew, Griffith University, Australia
