China has initiated and implemented its economic reforms for over 30 years, however, the comprehensive economic reforms and opening up is still unfolding. The author was a state leader, who has personally engaged in China's economic policy-making process from 1999 to 2008, and is an economist, who has deeply studied and thought over China's financial reform in various aspects. This book summarizes the results of the author's research on China's financial reforms, adopting the fictitious economy theory, in the past 10 years.Financial Reforms and Development in China focuses on the developmental process and main features of the fictitious economy; the essence and the law of the fictitious capital (including credit capital, knowledge capital, social capital, etc.); the relationship between the fictitious economy and the real economy. The book attempts to use the fictitious economy theory to analyze the chaos and self-organization of financial system, financial crisis, inflation and deflation, economic globalization, and knowledge-based economy and society.The book, comprising 12 chapters, covers all the main aspects of China's financial reform and provides readers with a practitioner's reading of China's financial markets, including financial globalization, the financial system and product innovation, financial crisis, financial security, financial regulation, universal banking, capital markets, money market, commercial banks, rural finance, futures markets, foreign exchange markets, financial derivatives, equity markets, insurance and so on.The book is invaluable from the perspectives of its contribution to economic theory, in developing an understanding of the actual workings of China's economic and financial reforms in the past decade, and in forecasting future developments in China's economy and financial markets. It will appeal to academics, undergraduate students, graduate students, professionals, general readers interested in finance, the financial reform and market in China, as well as China's development and the fictitious economy.

Siwei Cheng (UCLA Anderson, 1983) is an international expert and renowned scholar in engineering, economics, finance and management. He has more than 40 years of experience in the chemical industry and is a pioneer in growing China's multi-billion dollar borax industry. He was the former Vice Chairman of the 9th and 10th Standing Committee of the National People's Congress (NPC), People's Republic of China (PRC). He devoted himself to the reform and opening up of China's economy for 30 years. He utilized the approach of complexity science to study economic reforms in China and put forward many valuable and influential proposals to the top leaders of China, and implemented his ideas in his work as the Vice Chairman of the NPC Standing Committee, PRC and Chairman of the Central Committee of China National Democratic Construction Association. He initiated the School of Fictitious Economy at the Chinese Academy of Science (CAS) and has a deep and lasting influence in China's economic and financial circles. He also promoted the venture capital business in China and built up high reputation in this field. He is also very active in the international academic community and was invited to give keynote speeches in many countries and international forums.