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The Impact of China’s Financial Market Opening to the Outside World

Jiaxin Yang*, Jiayi Wang, Yumeng Zhang, Yiyuan Zhang, Yuru Han

Poly Property and Guizhou Panjiang Explosion Co., Ltd., Guiyang, Guizhou, China.

*Corresponding author: Jiaxin Yang

Published: August 10,2022 How to cite this paper

Abstract

Since the reform and opening up, the economy and finance have been globalized, and promoting further opening of finance is in line with China's entry into a new era. As the core of modern economy, the key role of finance in the optimal allocation of production factors is particularly significant. In the context of economic globalization and global allocation of factors of production, further accelerating financial openness and integration into financial globalization has become inevitable. What is the coordination between China's financial opening and domestic development, what kind of relationship exists between financial opening and economic growth, what is the level of financial opening in China, and what are the impacts and challenges of financial opening on China's banking industry and financial supervision? In response to the above questions, this paper takes financial openness and economic growth as the basis, financial openness and financial development, and free flow of international capital as the main direction, in order to finally analyze and conclude that financial openness and economic growth in China affect each other, but the effect of financial openness on economic growth is obviously greater than the effect of economic growth on financial openness, and China urgently needs to establish a new financial regulatory system.

KEYWORDS: Financial openness, Financial risk, Economic growth, Competition degree

References

[1] Zhang Li. (2014). The impact of full opening of China's financial market on the degree of competition in the banking industry [D]. East China Normal University. 2014.

[2] Zhang Xiaobo. (2011). Study on the risks of financial openness and its economic growth effect [D]. Chongqing University. 2011.

[3] Zhong Junyan. (2012). Research on the relationship between financial openness and economic growth in China [D]. Ocean University of China. 2012.

[4] Li Ziruo. (2020). The impact of trade opening and manufacturing upgrading on financial opening [J]. Economic Issues Exploration Correction. 2020, Issue 05.

How to cite this paper

Jiaxin Yang, Jiayi Wang, Yumeng Zhang, Yiyuan Zhang, Yuru Han. The Impact of China’s Financial Market Opening to the Outside World. OA Journal of Economy and Management, 2022, 1(1), 15-19.


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