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E-Commerce Development and Household Consumption Growth in China
Xubei Luo, Yue Wang, Xiaobo Zhang, Sep 04, 2019China has quickly become the largest e-commerce market in the world. E-commerce has reshaped consumption patterns in recent years. This paper examines how e-commerce development has shaped household consumption growth in China. It finds that e-commerce development is associated with higher consumption growth, that the link is stronger for the rural sample, inland regions, and poor households...
Underestimated Role of Banks in China’s Bond Market
Marlene Amstad, Zhiguo He, Jul 17, 2019The role of banks in the Chinese bond market, the third largest in the world, is greatly underestimated when proxied only through the share of issuance. For the future growth and deepening of the Chinese bond market it will be important to lower reliance on banks in order for the bond market to play its intended role as a spare tire of the financial system.
Shadow Banking Activities of Non-Financial Firms in China
Julan Du, Chang Li, Yongqin Wang, Jul 19, 2017The re-lending business is a particular activity of shadow banking in China, in which some non-financial firms borrow in order to lend, acting as de facto financial intermediaries. Julan Du and Chang Li from the Chinese University of Hong Kong and Yongqin Wang from Fudan University document this type of shadow banking in China using three different identification strategies. They also explore the factors that influence the firms' re-lending activities.
Capital Regulations, Bank Risk-Taking, and Monetary Policy in China
Xiaoming Li, Zheng Liu, Yuchao Peng, Zhiwei Xu, Nov 18, 2020China implemented Basel III in 2013 and tightened bank capital regulations. Empirical evidence shows that the new regulations significantly reduced bank risk-taking following monetary policy easing. To meet the tightened capital requirements, banks respond to a balance-sheet expansion by raising the share of lending to state-owned enterprises (SOEs) that are perceived as low-risk borrowers under government...
The Anatomy of Chinese Innovation: Insights on Patent Quality and Ownership
Philipp Boeing, Loren Brandt, Ruochen Dai, Kevin Lim, Bettina Peters, May 07, 2025Chinese patenting has become narrower and less innovative over time. The role of overseas knowledge has also declined sharply. These findings are salient in the context of a marked slowdown in economic growth in China and rising concerns of technological decoupling with the US.
