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The main objective of the article is to discuss the direction of changes in the strategies of the most powerful transnational corporations as a result of adjustments to the new challenges created by the growing role of human capital in contemporary international business. Based on the concept of Grounded Theory Methodology, the author will indicate the main pillars of the strategy which can be considered effective for new challenges. The study has been divided into three parts. The first part discusses the most important theoretical issues concerning the place of human capital in the strategies of contemporary enterprises. In the second part, the author characterizes new trends in international transfers of human capital. In the next part, based on the research, the author discusses the impact of changes on the organizational and management system of enterprises – on the example of the most powerful transnational corporations. The studies have shown that all the most powerful transnational corporations notice the growing role of intellectual capital in contemporary business. The basis of corporations’ strategies is the emphasis put on the development of subsystems of intellectual capital, which refers to the activation of international transfers of human capital. In consequence, the strategies of the development of the most powerful transnational corporations are based on three pillars: networking, orchestration, and coopetition, and they are based on the three subsystems of intellectual capital: organizational capital, innovations, and the institutional environment.

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The evolution of the final and intermediate objectives of the monetary policy 1.2. The evolution of monetary policy instruments 1.3. China's exchange rate policy 1.4. Challenges for the monetary policy Conclusions Chapter 2 Directions and prospects for the development of the bond market in China (Joanna Bogołębska) 2.1. The bond market in the Chinese financial sector and the determinants of its development 2.2. Bond market segments, trading venues, and categories of investors 2.3. The characteristics of today's bond market 2.4. Treasury debt securities market 2.5. Prospects for an increase in the role of the Chinese bond market in the international financial system Conclusions Chapter 3 Corporate finance -China's big four banks (Magdalena Rosińska-Bukowska) 3.1. Origins and determinants of changes in the corporate finance of China 3.2. Evolution of Chinese banking system -the emergence of China's big four banks 3.3. The Industrial and Commercial Bank of China -ICBC 3.4. China Construction Bank Corporation -CCB 3.5. Agricultural Bank of China -ABC 3.6. Bank of China -BOC Conclusions Table of contents 6 Chapter 4 China's largest credit institutions in light of Basel III implementation (Klaudia Zielińska-Lont) 4.1. Short characteristics of the Chinese banking sector 4.2. Basel Accords short overview 4.3. Basel Accord implementation and prudential supervision in China 4.4. Economic impact of implementing the Basel Accord Conclusions Chapter 5 The development of the FinTech sector as a source of innovation for the Asian financial market -the example of China (Karolina Anielak) 5.1. The FinTech sector in global terms 5.2. FinTech as an innovation in the financial market 5.3. The characteristics of the Asian market FinTech 5.4. Development of FinTech's market in China Conclusions Conclusions References 95 List of figures 103 List of tables 105

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