A Survey On China's Capital Accounts Liberalization Sequence

Capital accounts' liberalization has a significant meaning for the economic development of a country, and it is the most sensitive part in the process of economic opening. Then, Does it need a sequence? If it needs, what sequence should it accord to? Many people argued with this question in the academe. This paper provide a point of opening China' s capital accounts steadily, gently and orderly according to the situation of economic development. And also provide a sequence and schedule for the liberalization in the future according to the present situation of China' s capital accounts.This paper is divided into six parts. The first part provides a discussion about the meaning of all kinds of concepts, including capital accounts, capital accounts liberalization, the sequence of capital accounts liberalization, to specify the boundaries of our research. The next section provides the research background, the research methods, the research conclusion and structure.The second part discusses many kinds of theory about the sequence of capital accounts liberalization. The first section generalizes the theories that consider it doesn' t need a sequence. These theories usually think that all the capital accounts should open at one time. The second section introduces many theories that consider it needs a sequence, including the theoretic basis and many experts' standpoints.The third part analyses the opening situation of the countries in OECD at first, and try to use the new method to get some rules according to the opening situation of all developing countries. Then it analyses the experience of some typical country, including Chile, Mexico and Thailand which are the typical countries in the Latin debt crisis, Mexico finance crisis and southeast Asia currency crisis. It tries to get the reasonable sequence in demonstration.The fourth part analyses the present situation of China. It first provide the present situation of China' capital accounts liberalization. Then it analyses the economic situation of China, including the finance situation, the foreign exchange reserve situation, the economic competition situation, the finance system situation, the exchange rate...