Towards Financial Superpower : China's Financial Industry and Its Road to Internationalization

The topic of the financial industry, from both practical and regulatory perspectives, has been widely debated since the Global Financial Crisis of 2007-2008, but the discussion is mostly framed within a Western context.However, China now boasts one of the largest and most dynamic financial systems in the world and has three of the largest global stock markets as well as the gigantic commercial banks such as the ICBC and the Bank of China.It is actively opening its financial markets by reforming its securities law and introducing stock connect schemes with exchanges in the UK and Switzerland and also has the most advanced Fintech and mobile payment sector.China's central bank digital currency (CBDC) pilot project is already being rolled out on a national scale, contributing to the rise of the Chinese yuan as a new global currency.In this volume, Lerong Lu explores the remarkable rise of China's financial industry, its detailed operating mechanisms, and regulatory frameworks and regime.H