INFOCUS|CHINA|COVER STORY
CHINA’S CAPITAL ACCOUNT LIBERALIZATION
Gradually Moving Towards Complete Openness Opening the capital account is not only an important mission of China’s economic reforms, but also an indicator of the level of China’s openness. While transitioning from a planned economy to a market based economy, the Chinese government has chosen a gradual mode of reform, from simple to complicated, from the surface to deeper levels.
|16| India-China Chronicle March 2014
Dr. Tu Yonghong and Dr Wang Wen Towards A New Beginning: Carefully and Cautiously For over thirty years reform has been the reason for the takeoff of the Chinese economy. Corresponding with this, China’s mode of capital account liberalization has also been gradual. The opening of trade and direct investment DFFRXQWV FDPH ¿UVW DQG WKHQ WKH DFFRXQWV that could be arbitraged or speculated on were opened while others are still left closed.