The Chinese economy has undergone three major phases: the 1978-97 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government financial policies, defined as a set of...

Acknowledgements -- Introduction -- The practice of macroprudential policy -- Preliminaries -- The design of macroprudential policy -- The institutions of macroprudential policy -- The instruments of macroprudential policy -- The conduct of macroprudential policy -- The theory of macroprudential...