ABSTRACT
China under President Xi has put a lot of emphasis to open up its financial sector and create a network of China-led regional and global financial entities which would act as means to further Beijing’s immediate and long-term economic ambitions. While the objective to open up the financial sector has been made clear by the Chinese president, ambiguities about the extent of the same remain. The chapter therefore seeks to analyse the reform process in the domestic financial institutions and explain the initiatives in the regional and global context. It draws from the polyheuristic theory of decision making to explain the choices made by President Xi vis-à-vis financial reforms on both domestic and global fronts.
