Book notes: The Rise of the People’s Bank of China: The Politics of Institutional Change

The Rise of the PBoC by Stephen Bell and Hui Feng

Stephen Bell and Hui Feng, The Rise of the People’s Bank of China: The Politics of Institutional Change, Harvard, 2013, 376 pages

I first visited the People’s Bank of China (PBoC) in 1993, at a key stage in China’s reform process, which was overseen at the time by Zhu Rongji as economic czar (he was later prime minister). In my report, ‘The view from the People’s Bank of China’, Central Banking, Volume IV, No 3, 1993, I described the sweeping reforms being implemented by the central bank against

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