A Bridge on Economic Issues between China and the World
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China’s Growing Presence in Tax Havens: Implications for Policy and Research
Chris Clayton, Antonio Coppola, Amanda Dos Santos, Matteo Maggiori, Jesse Schreger, Jul 12, 2023Chinese firms are increasingly utilizing tax havens like the Cayman Islands, Bermuda, and the British Virgin Islands to raise large sums of capital from foreign investors, accounting for over 60% of total offshore equities by 2020.
China’s Impact on Global Financial Markets
Isha Agarwal, Grace Weishi Gu, Eswar Prasad, Dec 18, 2019China has been shifting the composition of its external assets from accumulation of foreign reserves toward private, nonofficial outflows. This article provides an overview of the allocation patterns of outward equity investment by Chinese institutional investors (IIs) across destination countries and sectors. In their foreign portfolios, Chinese IIs overweight sectors in which China has a comparative disadvantage (for instance, computer software), and they concentrate...
A New Perspective on China’s Credit Boom
Kinda Hachem, Michael Zheng Song, Jun 20, 2017What caused the enormous credit boom in China? This column by Kinda Hachem and Michael Song offers an unexpected explanation of stricter liquidity regulations on banks leading to a credit boom through competition between small and big banks and their heavy use of shadow banking investment instruments.
BigTech Lending as a New Form of Financial Intermediation
Jon Frost, Leonardo Gambacorta, Yi Huang, Hyun Song Shin, Pablo Zbinden, Jun 19, 2019BigTech firms, i.e. large technology firms whose primary business is digital services, are entering finance. Their entry into finance started with payments. Increasingly, they have expanded beyond payments into the provision of credit, insurance, and toward savings products, either directly or in partnership with incumbent financial institutions...
Dollar Appreciation and Asian Economies
Zheng Liu, Mark M. Spiegel, Andrew Tai, Jun 20, 2017The sharp appreciation of the U.S. dollar between mid-2014 and mid-2015 raised concerns in the U.S. and its major trading partners. Zheng Liu, Mark Spiegel, and Andrew Tai from the San Francisco Fed evaluate the impact of dollar appreciation on economic conditions in the United States and its three major Asian trading partners: South Korea, Japan, and China.
