中國與捷克在經濟領域有著很多的不同之處，但同為新興經濟體國家，很多經濟議題是有一定的共通性的，捷克和中國可以相互借鋻彼此的發展經驗。
《中國與捷克：金融的變遷及轉型》一方面詳細地介紹了新中國金融體制的變遷與改革、貨幣政策框架的變遷與轉型、證券市場的變遷與發展、金融監管的變遷與調整和金融對外開放的變遷與探索；另一方面以捷克為例討論了開放新興經濟體的貨幣政策、轉型經濟體銀行業的若干問題、零利率時代的貨幣政策和緩解家庭財務壓力的一些嘗試。

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PREFACE 1 THE DIRECTION OF FINANCIAL TRANSFORMATION：BUILD A MODERN FINANCIAL SYSTEM
PREFACE 2 LET'S SHARE EXPERIENCE AND IMPROVE MUTUAL UNDERSTANDING

CHAPTER 1 CHANGES AND REFORM OF NEW CHINA'S FINANCIAL SYSTEM
Section 1 Exploration and reconstruction of the financial system after the founding of New China（1949——1977）
Section 2 Reform and development of China's financial system（1978——2012）
Section 3 China's new financial business forms under the background of Internet finance（2013 to present）
Section 4 Achievements and experience of China's financial system reform
Section 5 Deepening and innovation of China's financial system reform

CHAPTER 2 70 YEARS OF NEW CHINA'S MONETARY POLICY FRAMEWORK： CHANGES AND TRANSFORMATION
Section 1 Exploration of the monetary policy framework after the founding of New China（1949——1977）
Section 2 Reform and improvement of the monetary policy framework（1978——2012）
Section 3 The transformation and new characteristics of the monetary policy framework since the launch of the campaign to comprehensively deepen reforms（2013——2019）
Section 4 Major challenges and future direction of China's monetary policy framework

CHAFFER 3 70 YEARS OF NEW CHINA'S SECURITIES MARKET：CHANGES AND STRUCTURE
Section 1 China's securities market before the reform and opening-up（before 1977）
Section 2 Early development of the securities market（1978——1991）
Section 3 Formation and preliminary development of national capital market（1992——1998）
Section 4 Regulated development of modem securities market（1999——2019）
Section 5 Achievements of China's securities market

CHAPTER 4 CHANGE AND ADAPTATION OF NEW CHINA'S FINANCIAL REGULATION SYSTEM
Section 1 The beginning of financial regulation after the founding of New China（1949——1977）
Section 2 Adaptive development of China's financial regulation（1978——2016）
Section 3 Moderate mixed regulation（2017——2019）
Section 4 Characteristics of China's financial regulation

CHAPTER 5 NEW CHINA'S FINANCIAL OPENNESS TO THE OUTSIDE WORLD： CHANGES AND EXPLORATION
Section 1 The principal theory of financial openness
Section 2 Retrospect of China's financial openness
Section 3 China's exploration of the capital account openness
Section 4 Summary of and reflection on the experience of China's financial openness

CHAPTER 6 MONETARY POLICY IN AN OPEN EMERGING ECONOMY——THE CASE OF THE CZECH REPUBLIC
Section 1 Monetary policy and the financial system at the beginning of the transformation process
Section 2 Trilemma of the Czech monetary policy
Section 3 Currency crisis
Section 4 Search for a new monetary policy regime
Section 5 Conclusion

CHAPTER 7 SELECTED ISSUES OF THE BANKING SECTOR IN A TRANSITION ECONOMY： BASED ON THE ANALYSIS OF CZECH REPUBLIC
Section 1 Size of the financial sector and its role in promoting growth in transition and emerging economies
Section 2 Prices of real estate and other assets and their connection with financial stability
Section 3 Sovereign exposure and sovereign risk
Section 4 The Banking Union
Section 5 Macroprudential policy
Section 6 Interaction of monetary and macroprudential policy
Section 7 Conclusions

CHAPTER 8 MONETARY POLICY IN A TIME OF ZERO INTEREST RATES： THE CASE OF THE CZECH REPUBLIC
Section 1 Zero lower bound and inflation targeting
Section 2 Effective lower bounds for interest rates
Section 3 Foreign exchange intervention policy and exchange rate commitment in the context of inflation targeting
Section 4 Conclusions

CHAPTER 9 RELIEVING THE PRESSURE ON HOUSEHOLD FINANCES
Section 1 Debt forgiveness
Section 2 Modem examples of debt relief
Section 3 Does debt relief， and in particular forgiveness，work?
Section 4 Conclusions

APPENDIX 1 ICBC'S OPERATION AND DEVELOPMENT IN CZECH REPUBLIC
Section 1 ICBC and Its International Development
Section 2 Establishment of Prague Branch
Section 3 ICBC's Practice of Business Development in Czech Republic

APPENDIX 2 HOME CREDIT——A CHINESE STORY OF CONSUMER FINANCE
Section 1 Introduction of Home Credit Group
Section 2 Home Credit's development in China

Finance is the core of the modem economy and an important instrument for a nation. Since the founding of New China， especially since the reform and opening-up， China's financial industry has achieved historic changes. The monotony， isolation and insignificance have been replaced by diversity， integration and considerable weight. The world today is witnessing unprecedented changes. Therefore， during the course of the reform and opening-up of China's financial industry in the new era， we must constantly ask ourselves how to seize the strategic opportunities and utilize finance to vitalize high-quality econormc development.
The painful lessons we leamt from many international financial crises， in particular the 2008 Global Financial Crisis， have taught the world that an imprudent shift to the virtual economy， a deviation of the financial industry from its mission， and self-circulation， self-expansion and prevailing speculation can easily create bubbles and lead to systemic financial crises in a country. The root causes are nothing less than misguidance by the national authorities， loose monetary policy， lax financial regulations， failure of financial supervision， failure of financial market constraints， disorder of financial infrastructure， improper countermeasures and imbalanced global financial governance. Now China is working hard to build a socialist market economy with Chinese characteristics， comprehensively promote the rule of law and continuously deepen financial reform and opening-up. This necessitates financial transformation and devotion of our efforts to building a modern financial system.
Establish a mature and more reliable financial legal framework.The development of a modem financial system must be based on the rule of law and a solid financial legal framework where things from administration to operation to supervision to punishment are run according to the law. Such higher-level laws as the Company Law，the Banking Law， the Securities Law， the Fund Law， the Insurance Law，the Trust Law， the Financial Supervision Law， the Financial Rights and Interests Protection Law and the Financial Institution Bankruptcy Law should be used as the foundation to formulate and improve vanous regulations， measures， rules and implementation instructions.
Establish a more effective financial control system. In order to build a modern financial system we should let the market play a decisive role in the allocation of financial resources while encouraging the establishment of a variety of financial institutions and the development of a multi-level financial market， including but not limited to the stock market， bond market， money market， inter-bank market， foreign exchange market and futures market. Nevertheless， the state must exercise timely financial control and build a highly efficient financial control system to prevent financial volatility and dramatic ups and downs in the economy. An effective financial control system can guide and stabilize expectations， boost investor confidence and prevent market volatility. That is one of its core functions. Moreover， it can bring about forward-looking counter-cyclical adjustment， curb excessive speculation and bubbles， and prevent overheating and overcooling of the economy as well as major cyclical fluctuations. Therefore， the financial control body must， first of all， have an up-to-date， full and accurate picture of the economy and the market. Secondly， they must strengthen monitoring，analysis and evaluation.Last but not least， they must put in place effective measures and mechanisms to conduct targeted adjustment of the market in a forward-looking and flexible manner. In order to stabilize expectations and confidence and ensure that financial control is sufficiently forward-looking and adequate， the financial control body must hold dialogues with the market participants and the general public whenever and wherever necessary， do a bett.er job of disclosing information and enhance policy transparency as well as credibility.