The Comparison of the Chinese Banking System and US Banking System--- Taking Monetary Policy as Example

Abstract

Banking systems play a crucial role in any economy, supporting financial intermediation and facilitating economic growth. As globalization continues to reshape the world, comprehending the similarities and distinctions between these banking systems becomes increasingly crucial. The Chinese banking system operates within centralized governance and state control, with state-owned banks dominating. In contrast, the banking system in the US is characterized by a more decentralized approach and a mix of privately owned banks, including a substantial number of commercial banks. By exploring these differences and similarities, this essay aims to provide insights into the distinctive features of the Chinese and American banking systems and their implications for economic growth and stability in these global economic powerhouses.