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  • © 2017

China's National Balance Sheet

Theories, Methods and Risk Assessment

  • The authors are the most prominent economists in contemporary China
  • Explores hot topics in China’s current economic development
  • Presents cutting-edge data and content
  • Includes supplementary material: sn.pub/extras

Part of the book series: China Insights (CHINAIN)

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Table of contents (19 chapters)

  1. Front Matter

    Pages i-xxxii
  2. General Report

    1. Front Matter

      Pages 1-1
    2. Introduction

      • Yang Li, Xiaojing Zhang
      Pages 3-7
    3. Expansion of Balance Sheet with Chinese Characteristics

      • Yang Li, Xiaojing Zhang
      Pages 51-68
    4. Balance Sheet Risk Assessment

      • Yang Li, Xiaojing Zhang
      Pages 69-88
    5. Basic Conclusions and Policy Suggestions

      • Yang Li, Xiaojing Zhang
      Pages 89-94
  3. Sectoral Analysis

    1. Front Matter

      Pages 95-95
    2. Household Balance Sheet

      • Yang Li, Xiaojing Zhang
      Pages 97-105
    3. Balance Sheets of Non-financial Corporations

      • Yang Li, Xiaojing Zhang
      Pages 107-117
    4. Financial Sector Balance Sheets

      • Yang Li, Xiaojing Zhang
      Pages 119-136
    5. Central Bank Balance Sheet

      • Yang Li, Xiaojing Zhang
      Pages 137-158
    6. Central Government Balance Sheet

      • Yang Li, Xiaojing Zhang
      Pages 159-167
    7. Local Government Balance Sheet

      • Yang Li, Xiaojing Zhang
      Pages 169-196
    8. External Sector Balance Sheet

      • Yang Li, Xiaojing Zhang
      Pages 197-219
  4. Related Topics

    1. Front Matter

      Pages 221-221
    2. Pension Gap and Implicit Debt Forecast

      • Yang Li, Xiaojing Zhang
      Pages 223-272
    3. Study of Value of Housing Assets of Residents

      • Yang Li, Xiaojing Zhang
      Pages 273-279

About this book

With the goal of perfecting the national governance system and raising the country’s governance capability, this book systematically analyzes the characteristics and trajectory of China’s economic expansion and structural adjustment, while also assessing a variety of short-term debt and long-term economic performance and financial risks. In addition to discussing the market-oriented reform process at the stage of economic development, institutional and structural characteristics, it presents research on the country as a whole, its residents, non-financial corporations, financial institutions and central banks, the central government, local government, and other external sectors.

On the basis of extensive data, the book analyzes the national and sectoral balance sheets in China and explores a number of major issues the country is currently facing, such as sustainable development, government restructuring, local debt, welfare reform, openness and stability of the financial system, etc., as well as suitable policy measures and institutional arrangements for addressing them.

Authors and Affiliations

  • Chinese Academy of Social Sciences, Beijing, China

    Yang Li, Xiaojing Zhang

About the authors

​Yang Li served as the Vice President of the Chinese Academy of Social Sciences (CASS) from 2009 to 2015. He was elected one of the first academic members of the CASS. He is an academician of the International Academy of Sciences for Europe and Asia (IASEA). He is also a 12th National People's Congress representative and a member of the NPC Financial and Economic Committee.Yang Li served as a member of the Monetary Policy Committee of the People’s Bank of China from 2003 to 2004. He is currently the Chairman of the Board of Directors for the National Institute for Finance and Development; Vice President of the China Society for Finance & Banking; Vice President of the China Public Finance Society; Vice President of the China International Finance Society; and a member of the Academic Committee of Intercross-Science Research Centre for Natural Science and Social Science at the Chinese Academy of Sciences. He also acts as an advisor to a number of provincial and municipalgovernments.
Yang Li specializes in the fields of finance, macroeconomics and public finance. He has written and translated 23 books and over 400 articles and has chaired more than 40 national and ministerial level research projects and international collaborative projects. He has on five occasions received the “SunYefang Prize for Economic Science”, China’s most prestigious award in the field of economics.
Yang Li graduated with a BA in economics from Anhui University in 1981 before he obtained a master degree at Fudan University in 1984. He completed his Ph.D. in public finance at Renmin University of China in 1989. He was a visiting scholar at Columbia University in 1998-1999.


Xiaojing Zhang is a Professor of Economics and the Deputy Director of National Institution for Finance & Development, Chinese Academy of Social Sciences (CASS). An author of several books and papers, Prof. Zhang is also the recipient of prestigiousawards such as the SUN Yefang Economics Prize (Top Economics Award in PRC) for 2005 and 2007, and also the National Book Award of China in 2002. He was a Visiting Scholar at the International Monetary Fund in 2009; a Visiting Professor at Harvard and National Bureau of Economic Research (NBER) in 2006-2007; and a Visiting Fellow at Stockholm School of Economics, from 1999-2000. His research interests are open economy macroeconomics, economic growth and development economics. He received his Ph.D. in economics from the Graduate School of CASS (Beijing) in 1998.

Bibliographic Information

  • Book Title: China's National Balance Sheet

  • Book Subtitle: Theories, Methods and Risk Assessment

  • Authors: Yang Li, Xiaojing Zhang

  • Series Title: China Insights

  • DOI: https://doi.org/10.1007/978-981-10-4385-7

  • Publisher: Springer Singapore

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2017

  • Hardcover ISBN: 978-981-10-4384-0Published: 26 June 2017

  • Softcover ISBN: 978-981-13-5124-2Published: 12 December 2018

  • eBook ISBN: 978-981-10-4385-7Published: 08 June 2017

  • Series ISSN: 2363-7579

  • Series E-ISSN: 2363-7587

  • Edition Number: 1

  • Number of Pages: XXXII, 342

  • Number of Illustrations: 3 b/w illustrations, 115 illustrations in colour

  • Topics: Macroeconomics/Monetary Economics//Financial Economics, Development Economics, Asian Politics, Emerging Markets/Globalization

Buy it now

Buying options

eBook USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access