In this paper we study the determinants of gross capital flows, project the size of China's international investment … recent proposals by the People's Bank of China. Our analysis shows that China's gross international investment positions … of official foreign reserves, China would be able to earn higher net investment incomes from abroad. Overall, China would …

This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account …, China's debt has doubled, reaching levels that are clearly above those of most emerging markets. This increases the risks … embedded in financial reform and, in particular, capital account liberalisation. At this juncture, however, China has no option …

financially than the Chinese economy, but China seems to be catching up with India in the wake of the global financial crisis … Chinese money markets, in contrast to the consensus projection that China is likely to experience net private capital outflows …

Despite an erosion of consensus on its benefits, capital account convertibility remains a long-term goal of China. This … paper identifies three major preconditions for convertibility in China: a strong domestic banking system, relatively …, in significant respects, China does not yet meet any of the conditions necessary for convertibility. They then evaluate …