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Publication on Changes and Transformation in the Financial Sector in China and Czechia released

On August 27th, the new book “Changes and Transformation in the Financial Sector in China and the Czech Republic" was successfully launched at the Embassy of the Czech Republic in China. It reveals the similar challenges both countries had to tackle in the financial sector during their economic transformation. The launch of the book demonstrates not only the bilateral cooperation in the financial and literary sector, it also commemorates the 70th anniversary of the establishment of diplomatic relations between China and the Czech Republic.

The authors´ collective of the book are representatives of the China Academy of Social Sciences, China Banking and Insurance Regulatory Commission, People´s Bank of China, Industrial and Commercial Bank of China (ICBC), Czech National Bank, Home Credit Group and universities (University of Finance and Economics, University of Economics and Law). The book was published by China Social Sciences Press and sponsored by Home Credit Consumer Finance Co., Ltd. (HCCFC).

The launch of the book was jointly attended by Mr. He Dexu, Editor-in-Chief of the book, General-Director and Professor of the National Academy of Economic Strategy of the Chinese Academy of Social Sciences, representatives of the Ministry of Foreign Affairs of the People´s Republic of China, members of financial institutions such as ICBC, Home Credit and PPF China as well as the representatives of the embassy. It was also reported by several media such as people.com.cn, china.com.cn, caijing.com.cn, finance.sina.com.cn, etc.

The main focus of the publication is to share experiences of emerging economies on the example of Czech and Chinese economies, so they can learn from the developments of each other. It not only describes and summarizes the changes in the financial history of the two countries, but also addresses the future directions of financial changes.

Emerging economies have to face problems and questions, which are to some extent similar. Obviously, experiences of individual emerging economies are necessarily specific because of different historical situations, different international relations, traditions and other factors. Yet the authors believe that, “the in-depth exchange of experience and learnings in economic policies and other fields will help to promote mutual understanding and support bilateral cooperation between the countries,” as stated by Vladimír Tomšík, Ambassador of the Czech Republic to China during the event opening.


Changes and Transformation in the Financial Sector in China and the Czech Republic