| In recent years, the economic development of China has been maintaining a high speed. The double-digit growth of China make so many countries all over the world concern. And China-style has set a good example to so many developing country. It's worth studying how we achieve such a big success in just 30 years, and how can we preserve this efficient growth has become a question for study. We must know and analyse every factor which influence the growth, so that we can promote the positive ones and amend the restrictions.Among the problems we are confronting now, the most important one is economic restructuring. Imbalance of economic structure has become the emphasis of the government's economic work. The development of nongovernmental finance should be considered as a key factor which influence the optimizing of economic structure for its relation with the tranquilization of the nongovernmental economic. So it is significant to the steady increase of our economic.Based on the framework of financial development theory, we'll start with Ronald I. Mckinnon and Edward S.Shaw's theorys. Then we'll detailed analysis the theories of financial development, financial liberation, financial repression, financial constraint before and after Mckinnon and Shaw. After that, we are going to itroduce the mechanism between economic development and financial development, and then gointo the development of nongovernmental finance. Firstly, we'll present the rising, character and status quo of nongovernmental finance in China with positive analysis in order to get the conception of nongovernmental finance clear, and what kind of problems we are facing now. We will study the meaning of nongovernmental finance to our economic progress through the aspect of financial repression, economic system, financing plight, system of ownership of credit and so on. At last, we'll discuss the contribution of nongovernmental finance by presenting its function and utility. Then, policy advice will be provided. |
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