Finance

Author: Wang Xingnan
Publisher:
Publishing Date: 2004-08-01
Features: Finance is the core of the modern economy, and without the development of the financial industry, there can be no economic progress. In the knowledge structure of modern people, financial knowledge has become an indispensable component. Today, developed countries in the world have entered the era of a monetary economy, and the economies of many developing countries have also strongly felt the impact of the global financial industry's development. The development of the global financial industry has been integrated with trade liberalization, forming the process of global economic integration. China's financial industry has gone through nearly 20 years of reform, achieving significant results while also experiencing many twists and turns. Currently, it has entered a very critical turning point. First, the development of the market economy is unstoppable, forcing China to face various challenges brought by its integration with the global economy; second, the contradiction between the traditional system and its legacy issues and the requirements of economic development continues to deepen, posing risks of crisis in China's financial industry. The process of economic internationalization has not only put demands on the deepening reform of China's financial system but also raised higher requirements for financial education. This book was organized and compiled against this backdrop, with the goal of serving as a textbook for financial studies in economic (management) majors. The book consists of twelve chapters, with content centered on the author's understanding of finance, using modern economic theories to comprehensively elaborate on the financial assets, financial entities, financial markets, and financial systems that constitute the financial elements. In the writing process, we have continuously strived for innovation in both content and structure, aiming to achieve a close integration of financial theory and China's financial practice, as well as a good user experience. The common experience shared by all contributors is that the difficulty of writing a financial studies textbook with a reasonable structure, appropriate content, rigorous arguments, and clear organization is truly immense. This is primarily attributed to the limited depth and breadth of the authors' knowledge, as well as the constant disruption of the original framework by the ever-evolving innovations in the actual financial field. To address this, we referred to the latest research findings and works of many experts and scholars in the domestic financial field, which provided guiding insights and a wealth of references for the final completion of this book. At the same time, we noticed two significant trends in recently published textbooks on "Money and Banking" and "Finance": one reflects an unwavering pursuit of a comprehensive system, while the other focuses on developing unique characteristics in certain aspects rather than aiming for a fully encompassing system. Overall, these trends stem from differing choices between macrofinance and microfinance, with the underlying motivation being the pursuit of theoretical explanatory power for China's financial reality. In this regard, this book emphasizes the integration of macrofinance and microfinance, as it aligns with our national conditions and the realities of financial development. After all, our training goal is to cultivate applied talents who will later contribute to advancing China's financial industry. During the writing process, the authors prioritized the perspective of the target audience for teaching and the ability of instructors to handle the textbook, considering both the teaching and learning aspects to ensure the book's effectiveness in future instruction. Adhering to this principle, the authors strove for simplicity, conciseness, and clarity in the system framework, theoretical depth, content arrangement, expression, and logical thinking. If we were to outline the features of this book, they would be: (1) In terms of chapter structure, it emphasizes reasonable connections between content and the logical sequence of knowledge acquisition, making it easier for readers to understand. (2) In writing style, it seeks concise and accurate language, providing both instructors with ample room for elaboration and readers with space for further reflection, while aligning with teaching principles. (3) In the integration of theory and practice, it aims to combine teaching content with actual business operations and financial theory with current financial systems and regulations, reflecting the latest developments and practical operations in the financial field. (4) In argumentation, it pursues clear logic and a gradual progression from simple to complex. References and data are rigorously selected for their authority and comprehensiveness. As a textbook, it strives for clear and consistent viewpoints, avoiding controversial issues.