This course is a survey of China's financial system, including its banking industry, monetary policy structure, and financial markets (bonds, derivatives, equities, foreign exchange, alternative asset management, and related markets). The goal is an integrated view of how capital, risk, and liquidity are intermediated within China and cross-border. Current trends (including liberalization of markets and financial stability) will be emphasized. Coverage will be through lectures, reading of research, including primary source documents and secondary (journalistic and analyst) commentary. There will be a range of subject-matter-expert speakers. Using our special High Immersion Classrooms at Stanford and at the Stanford Center at PKU, this course is able to draw live speakers in Beijing and to meet with some students at Beijing University or Tsinghua University. Students will participate actively in class discussion, make a 5-minute research presentation, and submit a 10-page term paper.