ABSTRACT
The considerable achievements and contributions the private sector has made to China’s economic reform and development can only be sustained if firms are able to access finance through an efficient financial system. As long as the country’s financial and corporate systems remain underdeveloped and burdened with distortions and government interventions, the private sector cannot be expected to play its full and vital role in China’s modernisation and growth. Since most the financing problems are well known to policymakers, there is hope that appropriate measures will be taken to resolve them.
