Market Integration in China

28 Pages Posted: 20 Apr 2016  

Qingqing Chen

Government of the United States of America - Office of the Comptroller of the Currency (OCC)

Chor-ching Goh

World Bank

Lixin Colin Xu

World Bank

Bo Sun

Board of Governors of the Federal Reserve System - Division of International Finance

Lixin Colin Xu

World Bank - Development Research Group (DECRG)

Date Written: April 1, 2011

Abstract

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).

Keywords: Economic Theory & Research, Banks & Banking Reform, Debt Markets, Emerging Markets, Access to Finance

Suggested Citation

Chen, Qingqing and Goh, Chor-ching and Xu, Lixin Colin and Sun, Bo and Xu, Lixin Colin, Market Integration in China (April 1, 2011). World Bank Policy Research Working Paper No. 5630. Available at SSRN: https://ssrn.com/abstract=1806134

Qingqing Chen

Government of the United States of America - Office of the Comptroller of the Currency (OCC) ( email )

400 7th Street SW
Washington, DC 20219
United States

Chor-ching Goh

World Bank ( email )

1818 H Street, N.W.
Washington, DC 20433
United States

Lixin Colin Xu

World Bank

1818 H Street, NW
Washington, DC 20433
United States

Bo Sun

Board of Governors of the Federal Reserve System - Division of International Finance ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Lixin Colin Xu

World Bank - Development Research Group (DECRG) ( email )

1818 H Street, N.W.
MC 3-427
Washington, DC 20433
United States
202-473-4664 (Phone)
202-522-1155 (Fax)

HOME PAGE: http://econ.worldbank.org/staff/cxu

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