Reforming the Money Market in China

Abstract: In China’s financial market system, the reform of the money market, which is being done earlier than the reform of the capital market, has basically adopted a market-oriented framework. However, compared with its substantial economic influence and the growing financial needs, many aspects of the money market in China still need to be improved. This article provides an analysis of issues related to the Chinese money market and then suggests areas to focus reforms during the 12th Five-Year Plan period.