On the formation of a mechanism to counter shadow economic relations in China

Abstract. The shadow economy has spread to all countries of the world, and China is no exception. Corruption, shadow banking, smuggling and the production of counterfeit products are especially widespread in China. The PRC government is taking severe measures to prevent shadow economic activity, and this policy of the authorities has significant results, but the institutional framework is not perfect enough and requires close attention of the legislature. The purpose of the article is to identify and substantiate the key areas of the PRC's struggle against the shadow economy. The scientific novelty lies in determining the approaches of the Chinese authorities to controlling the shadow economy, as well as the `author`'s substantiation of the directions for improving the institutional framework in order to prevent informal economic activity.

Keywords: China, shadow economy, shadow banking, corruption, smuggling, financial system, criminal business, legal system, death penalty

For citation: Nikolaevskiy D.D. On the formation of a mechanism to counter shadow economic relations in China. Modern oriental studies. 2023; Vol. 5 (1). (In Russ.) https://doi.org/10.24412/2686-9675-1-2023-158-169