China's Capital Account Liberalization

This thesis probes into such areas as the opportunities and risks of capital account, "profits" and "costs" and systematic arrangement with the scientific methods of theoretic analysis, individual cases investigation, comparative analysis and positive test. The thesis thus poses the idea that whether or not a reform is to be carried out rests with its anticipated effectiveness. So weighing the "profits" and"costs" of the opening of capital account, (here both "profits" and "costs" being potential, "profits" equals the gains to be brought by the opening of capital and"costs" refers to the possible risks due to the opening of capital account) would become the key factor in deciding whether to implement a reform or not. Therefore the final achievement in the implementation lies in designing a most favorable arrangement of system that suits the opening of capital account, based on the analysis of "profits" and "costs" , so as to minimize the "costs" and maximizes the"profits" . Thus the thesis can lay a theoretic foundation for the opening of capital account in our country.The whole thesis consists of four parts. The first part offers a general outlook of the study in the opening of capital account in China and puts forward the key research area of this thesis and its significance. And analyzes the theory of the opening of capital account hi China. The second part introduces the present situation of opening capital account hi developing countries. The third part poses the most favorable arrangement of system in the successful implementation of the opening of capital account in China and analyzes the opportunities for this implementation.