PROGRESS DESPITE PROBLEMS

China focuses on building a stronger financial system to support the real economy Compared with the progress and status of China's economy and trade, its financial system seems to be much less impressive and powerful. Many analysts regard it as a major vulnerability in China's economic development. The basic facts, however, underscore the success of the system and its global importance today: China has the second largest stock market and bond market in the world。

PROGRESS DESPITE PROBLEMS

Compared with the progress and status of China's economy and trade, its financial system seems to be much less impressive and powerful. Many analysts regard it as a major vulnerability in China's eco-nomic development. The basic facts, however, underscore the success of the system and its global importance today: China has the second largest stock market and bond market in the world; and the four biggest Chinese banks are consistently among the top 10 financial institutions in the world. Actually, China has come a long way in building up a modern fi-nancial system, despite many complex challenges. More dramatic progress is anticipated in the next five years, as outlined in the proposals for formulating the 14th Five-Year Plan (2021-25).