What Is the “China Model” of Financial Reform?

Based on a comparative study of China’s three-decade financial system reform and the financial reform of Russia and selected Eastern European countries, we found noticeable discrepancies between and other transitional countries in respect to objective setting, path and sequence selection, power sources and advancement strategy. We conclude that a China model of nancial system reform does exist. The formation and evolution of the China model is closely related to China’s special political and economic environment. More importantly, it is significantly influenced by China’s overall economic reform as well.