This course aims at providing an in-depth understanding of the functions and the performance of China’s fiscal, monetary and exchange rate systems, as well as their impact on the economy.  There evolution in major stages of reform will be analysed, with emphasis on how and why China's path of development has been different from other emerging and transition economies.  The latter part of the course will focus on the financial relationship between mainland China, Hong Kong and the global economy, covering timely topics such as the internationalisation of the Renminbi and China's capital outflow strategy under the umbrella of the Belt and Road Initiative.