Journal articles: 'Chinese financial development'

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SONG, Jiaxue, Elena G. KNYAZEVA, and Ekaterina Yu POLYAKOVA. "Russian-Chinese financial cooperation: Development trends and prospects." Finance and Credit 28, no. 6 (June 29, 2022): 1288–307. http://dx.doi.org/10.24891/fc.28.6.1288.

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Subject. The article discusses the importance of Russian-Chinese financial cooperation and its impact on the economic development of Russia. Objectives. The purpose is to identify aspects of Russian-Chinese financial cooperation that have a substantial influence on the Russian economy, to develop a scientific and methodological approach to quantifying the impact of Russian-Chinese financial cooperation on the Russian economy. Methods. We employ methods of economic, mathematical and statistical analysis, and practical developments of Russian and foreign scientists. Results. Three aspects of Russian-Chinese financial cooperation are important factors that directly affect the economic growth of Russia, namely, China's direct investment in Russia, bilateral trade, and currency swaps. Russian-Chinese financial cooperation will play a positive role in promoting the economic development of Russia. Conclusions. To ensure stable socio-economic development of Russia, it is important to develop financial cooperation with China. Russia should further expand bilateral trade, make efforts to attract Chinese investment, and continue monetary cooperation with China.

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Park, Chan il. "Financial Development Following Economic Growth: The Chinese Case." East Asian Economic Review 7, no. 1 (June 30, 2003): 29–63. http://dx.doi.org/10.11644/kiep.jeai.2003.7.1.101.

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Setser, B. "The Chinese Conundrum: External Financial Strength, Domestic Financial Weakness." CESifo Economic Studies 52, no. 2 (April 21, 2006): 364–95. http://dx.doi.org/10.1093/cesifo/ifl005.

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Töpfer, Laura-Marie. "China’s integration into the global financial system." Dialogues in Human Geography 8, no. 3 (November 2018): 251–71. http://dx.doi.org/10.1177/2043820618797460.

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This article critically reviews theories of global economic networks and refines their application to China’s state-controlled financial sector. Current approaches view global production networks and global financial networks (GFNs) through an agency focus on inter-firm relations and a structural emphasis on neoliberal forces. This market-driven perspective exposes several shortcomings when it comes to understanding the governance of GFNs in China. In the Chinese context, these networks are characterized by complex bargaining that bridges different levels of the Chinese party-state and corporate interests. This article exploits the theoretical synergies between economic geography and theories of Chinese elite politics and institutional change to develop a politically sensitive reading of GFNs. It identifies channels through which multilevel bargaining in the Chinese party-state shapes the competitive positions of firms. By integrating recent findings on Chinese cross-border finance, the article develops an empirically grounded theoretical approach of GFNs ‘with Chinese characteristics’. This opens up a promising research agenda in the GFN literature on the role of the state as an architect and entrepreneur behind GFNs and the outcomes they produce.

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Xu, Jingwei. "Chinese Resource-for-Infrastructure (RFI) Investments in Sub-Saharan Africa and the Future of the "Rules-Based" Framework for Sovereign Finance: The Sicomines Case Study." Michigan Journal of International Law, no. 41.3 (2020): 615. http://dx.doi.org/10.36642/mjil.41.3.chinese.

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China has emerged as sub-Saharan Africa’s largest development financier over the past two decades. While commentators have observed novel, sui generis transactional structures in China’s financing arrangements, legal analysis of those contractual forms and their relationships to incumbent international economic governance regimes remains scant. This note addresses those scholarly lacunae, taking as its case study the 2008 Sicomines Agreement—a multi-billion USD investment financing agreement between the Democratic Republic of the Congo and various Chinese corporate entities that merges infrastructure investment with a mineral extraction joint-venture project. It demonstrates that the Sicomines Agreement selectively draws on and integrates pre-existing modes of sovereign development finance, but in ways that subvert the extant legal and customary frameworks those modes have depended on. Legal issues arising under the Sicomines Agreement fall under two analytical categories: (1) areas of the Sicomines Agreement that the extant, “rules-based” framework governing sovereign development finance adequately captures; and (2) elements of the transaction that subvert that framework, confounding existing rules. This note concludes by considering what broader implications Chinese-origin development finance may have on the legal regimes and institutions governing the international financial system as a whole.

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Nayak, Bhabani Shankar, and Zhong Yingnan. "Critical Reflections on Different Trends in the Relationship between Financial Developments and Economic Growth in China." International Journal of Economics and Finance 11, no. 3 (February 23, 2018): 89. http://dx.doi.org/10.5539/ijef.v11n3p89.

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There are many burgeoning literatures dominate the debates on relationship between financial developments and economic growth in China. It has always been a contagious one. The Chinese state is making coordinated effort for the development of the financial sector for economic growth to address issues of local development. Since the reforms of 1978, the Chinese economy has witnessed rapid growth. This paper explores the relationship between financial development and economic growth in China. It argues that there is a bidirectional causality between financial development and economic growth in China.

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Pan, Yuxiang, Yimin Huang, and Ershi Qi. "Chinese manufacturing industry development strategy from the financial perspective." Grey Systems: Theory and Application 6, no. 2 (August 1, 2016): 203–15. http://dx.doi.org/10.1108/gs-02-2016-0003.

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Purpose – Based on literature review, the purpose of this paper is to design a comprehensive evaluation system for pharmaceutical industry from the financial perspective, and then analyses the development strategy of Chinese pharmaceutical industry according to the data of listed companies. Design/methodology/approach – This paper analyses the development strategy of Chinese pharmaceutical industry through building the grey dominance evaluation model including absolute degree of grey incidence model and relative degree of grey incidence model. Findings – Through the analysis of the grey dominance evaluation model, the authors find that four factors including total assets turnover, quick ratio, inventory turnover and current ratio can be grouped into first grade assessment indicator when evaluating the performance of Chinese pharmaceutical industry. These four indexes contain the concept of operational efficiency which shows that operation capability is the key to support the development of Chinese pharmaceutical industry, needing to be highly valued when organizations making business policy. When it comes to velocity of development, the contribution of R & D intensity is relatively small, which shows innovation ability of China’s pharmaceutical industry is still weak. Innovation is the lifeblood of enterprise development, needing to be improved to promote enterprise’s core competitiveness in the future development. Originality/value – This paper selects Y1-Y7 as the performance evaluation system of pharmaceutical manufacturing enterprises, while X1-X15 as performance evaluation index system from the financial perspective, which indicated that the evaluation system is scientific and practical. The empirical result shows that the operation capability makes the largest contribution to the performance of China’s pharmaceutical industry, while R & D ability and the enterprise core competitive ability are weak.

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Hou, Liming, Shao-Chieh Hsueh, and Shuoxun Zhang. "Does formal financial development crowd in informal financing? Evidence from Chinese private enterprises." Economic Modelling 90 (August 2020): 288–301. http://dx.doi.org/10.1016/j.econmod.2020.05.015.

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Gong, Xue. "Logics of appropriateness: Explaining Chinese Financial Institutions’ weak supervision of overseas financing." World Development 142 (June 2021): 105465. http://dx.doi.org/10.1016/j.worlddev.2021.105465.

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Liu, Hao, and Weilun Huang. "Sustainable Financing and Financial Risk Management of Financial Institutions—Case Study on Chinese Banks." Sustainability 14, no. 15 (August 8, 2022): 9786. http://dx.doi.org/10.3390/su14159786.

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This study examines the relationship between sustainable financing and financial risk management of Chinese financial institutions, using data from Chinese banks. Financial risk management is a comprehensive measure of operating performance, asset quality and capital adequacy ratio. The structural vector auto-regression model determines the relationship between two variables. The positive shock of sustainable financing business negatively impacts the financial risk management of banks. In contrast, positive shock of banks’ financial risk management positively affects sustainable financing. Further subdivision of the sample revealed that sustainable financing does not always negatively impact the financial risk management of large state-owned banks. However, the positive shock of financial risk management reduces urban banks’ green credit proportions. The results are consistent whenever compared between the empirical outcome of the entire sample and the sample consisting of national joint stock bank accounts. This comparison helps eliminate the possibility of a biased outcome as a major portion of the sample is from a national joint-stock bank account. Apart from data limitations, the results of the sub-sample test are influenced due to the difference in deposit and loan interest rates, as well as different ownership structures of banks.

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Fan, Zesen, and Kaiyue Liu. "Research on the Development Course and Countermeasures of Chinese Financial Derivatives Market." Frontiers in Business, Economics and Management 3, no. 3 (April 23, 2022): 36–39. http://dx.doi.org/10.54097/fbem.v3i3.313.

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With the development of times, the trading volume of financial derivatives continuously extend, and its growth rate has exceeded that of traditional financial products. China's financial derivatives market is a crucial part of the financial system, showing a trend of optimized development, and international influence significantly improved. However, compared with the mature financial market abroad, there are still many problems in China's financial derivatives market. The paper analyzes the development course and problems of China's financial derivatives market, and puts forward the countermeasures to effectively promote the development of China's financial derivatives market, in order to enhance the competitiveness of China's financial derivatives market.

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Huang, Zhixuan, and Jun Li. "Effectiveness of Fiscal and Financial Incentive Mechanism in Promoting the Development of TCM Health Industry." E3S Web of Conferences 275 (2021): 01018. http://dx.doi.org/10.1051/e3sconf/202127501018.

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On the basis of field research, this paper uses AHP and fuzzy comprehensive evaluation method to study the effectiveness of financial incentive mechanism in promoting the development of Chinese medicine health industry. The results show that the effectiveness of financial incentive mechanism in Chinese medicine health industry is not enough. The government should strengthen the construction of financial incentive mechanism in Chinese medicine health industry and pay attention to the regulation of relevant policies It is necessary to set up and implement the plan, so as to realize the modernization of the health industry of traditional Chinese medicine as soon as possible.

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Lian, Lishuai, and Chao Chen. "Financial development, ownership and internationalization of firms: evidence from China." China Finance Review International 7, no. 3 (August 21, 2017): 343–69. http://dx.doi.org/10.1108/cfri-06-2016-0054.

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Purpose The purpose of this paper is to examine the relationship between financial development and internationalization of Chinese firms, whether the above relationship could be varied for firms with different kinds of ownership, and the channels through which financial development affects internationalization. Design/methodology/approach This paper uses a sample of 2,053 firms for the period 2001 to 2013, and applies the methods of ordered logit, logit, and OLS regressions to examine the role of financial development on firms’ internationalization. Findings The results show that financial development accelerates the level of international process of Chinese firms, and this effect is stronger for the non-state-owned enterprises (NSOEs) than for SOEs. The authors also document that financial development increases the investment scale of outward foreign direct investment (OFDI). In addition, the evidence on the channels through which financial development affects internationalization indicates that financial development accelerates the level of international process in high-technology industries and industries that are more dependent on external financing, and promotes the technology-seeking OFDI, and these effects are more prominent for NSOEs than for SOEs. Originality/value First, this study examines Chinese firms’ internationalization from the perspective of financial development and focuses on the relationship between financial development and internationalization, and varies this relationship over firms with different kinds of ownership. Second, this study adds to the existing literature by identifying two channels through which financial development has an impact on internationalization, namely, external finance and high-tech intensiveness, and identifies the impact of financial development on technology-seeking OFDI.

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HAO, Chen. "Development of financial intermediation and economic growth: The Chinese experience." China Economic Review 17, no. 4 (January 2006): 347–62. http://dx.doi.org/10.1016/j.chieco.2006.01.001.

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Сюй, Вэйдун, Xu W., Хунтин Янь, Yan H., Елена Краюшкина, and Elena Krayushkina. "Penetration Regulation in Chinese Financial Market." Scientific Research and Development. Economics 6, no. 5 (November 19, 2018): 10–16. http://dx.doi.org/10.12737/article_5bcf10b93ff058.35678787.

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“Penetration” supervision is an important topic concerned in the academic field of China’s financial law recently. On October 13, 2016, the General Office of the State Council officially put forward the concept of “penetrating” supervision, stating that “it is necessary to base on practice and research to solve the financial problems which exposed in the finance field”. Although “penetrating” regulation is a specific concept proposed for the special rectification of Internet financial risks, it has quickly gained the support of many scholars as soon as it is proposed, and some scholars even recommend it to be extended to the entire financial market. This paper focuses on the practice of China’s financial market, defines the connotation of “penetrating” supervision, sorts out the theoretical basis of “penetrating” supervision, types the Chinese-style “transparent” supervision. The realization path of supervision is to optimize the allocation of financial regulatory power and promote the healthy development of the market.

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Haulman, Clyde A. "Financial innovation and the Chinese enterprise." Journal of Northeast Asian Studies 6, no. 2 (June 1987): 67–74. http://dx.doi.org/10.1007/bf03025142.

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Zhu, Alex Yue Feng, and Kee Lee Chou. "Financial Literacy Among Hong Kong’s Chinese Adolescents." Youth & Society 52, no. 4 (January 23, 2018): 548–73. http://dx.doi.org/10.1177/0044118x17753813.

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Against today’s global backdrop where financial responsibility has been transferred from the government to individuals, financial literacy, as a key component of financial capacity, could be an effective strategy to escape from lifecourse poverty. Compared with young adults, research demonstrates that financial literacy among adolescents is of greater importance. The present study fills the theoretical gap to measure the financial literacy of Hong Kong Chinese adolescents by validated Financial Fitness for Life (FFFL) Test, and explore its development by fitting data collected in Hong Kong into a model of socialization and a model of general poverty and comparing their ability to explain the link between family income and the financial literacy of adolescents. The results of the model of socialization show that parental financial behavior can explain the link between family income and the financial literacy of adolescents. The results of the model of general poverty are associated with better influential power, showing that the same link can be mediated by both parental stress and positive parenting behavior. The findings of this study specify the critical role of parents, offer specific entry points for interventions by policymakers and educators, and provide parents with pathways to positively influence the development of financial literacy among adolescents.

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Sharman, J. C. "Chinese capital flows and offshore financial centers." Pacific Review 25, no. 3 (July 2012): 317–37. http://dx.doi.org/10.1080/09512748.2012.685093.

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Zhang, Jun. "Not Chinese exceptionalism, but comparative institutionalism!" Dialogues in Human Geography 8, no. 3 (November 2018): 289–93. http://dx.doi.org/10.1177/2043820618797775.

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In this commentary, I endorse Töpfer’s critique on the conceptual centrality of ‘lead firms’ in the existing global production network/global financial network analyses and her argument to restore the primary role of the state in theorizing global financial integration. I suggest that the next step on the research agenda is to go beyond Chinese exceptionalism and develop an integrated politico-institutional framework that can enable critical, comparative studies of territorially variegated economic globalization.

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Wójcik, Dariusz. "Rethinking global financial networks." Dialogues in Human Geography 8, no. 3 (November 2018): 272–75. http://dx.doi.org/10.1177/2043820618797743.

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As argued insightfully by Töpfer, the global financial networks (GFNs) concept needs to be more politically sensitive, particularly if it is to capture the dynamics of Chinese capitalism and its role in the world at large. However, in doing so, we should not lose sight of the role of financial and business services, financial centers, and offshore finance at the heart of the GFN framework. With the map of the financial world in a state of turmoil, the future of GFN research looks exciting.

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Wang, Shu Guang, and Xiang Xin Jin. "On Analysis of the Development of Chinese Regional Economy and Countermeasures." Advanced Materials Research 347-353 (October 2011): 3968–72. http://dx.doi.org/10.4028/www.scientific.net/amr.347-353.3968.

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Revitalizing regional economy is one of the economic development basic strategies in our country. Finance-taxation policies, as the main macroeconomic control legal means under the conditions of market economy, play a positive and key role in revitalizing regional economy, including the development process of special economic zones, southeast coastal open, developing western regions and revitalizing northeast old industrial base etc. Taking the preferential tax to the eastern coastal areas in regional economic development, financial system of weakening the Midwest financial capability, the limited role of equalization in financial transfer payment, and tax system of widening gap in development between regions into account, the author considered that some finance-taxation policies should be carried out, such as renovating the prevailing financial system, carrying out comprehensive finance-taxation policies, normalizing transfer payment system, and strengthening preferential tax policy.

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Töpfer, Laura-Marie. "Inside global financial networks." Dialogues in Human Geography 8, no. 3 (November 2018): 294–99. http://dx.doi.org/10.1177/2043820618797779.

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The commentaries on this forum’s anchor article, ‘China’s Integration into the Global Financial System: Toward a State-led Conception of Global Financial Networks’, examine how the state is shaping global financial networks (GFNs). In response to these reviews, this article discusses three common themes that bind the different commentaries: (1) different types of agency, power, and the rise of new actors; (2) the methodology behind studying state-led GFNs; and (3) the structural question of ‘Chinese exceptionalism’ as a mode of capitalism. Overall, this article affirms that the state remains central to our understanding of competitive hierarchies and firm behavior in financial networks.

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Ren, Zhengyu, Hsing Hung Chen, Kunseng Lao, and Hongyi Zhang. "A Decision Support System to Estimate Green Sustainability from Environmental Protection and Debt Financing Indicators." Agriculture 12, no. 8 (August 18, 2022): 1249. http://dx.doi.org/10.3390/agriculture12081249.

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In the social context of advocating a low-carbon economy, achieving sustainable growth in line with current social development requirements is an issue that agribusiness must face. In order to explore the mechanisms influencing the sustainable growth of Chinese agriculture and to optimize the quality of agribusiness decisions, this paper examines the relationship between environmental management, debt financing indicators, and financial sustainable growth of the company in Chinese agriculture. Specifically, a decision support system based on the least square dummy variable (LSDV) model, mediating effects model and threshold effects model was constructed by using annual financial reports and questionnaire data of the listed agricultural enterprises. After empirical analysis, the following results were obtained: first, both environmental management and debt financing management help Chinese agricultural firms achieve financially sustainable growth. Second, debt financing can transmit the effect of environmental management on financially sustainable growth. Third, there are significant differences in the effects of debt financing on financially sustainable growth under different environmental management conditions. Finally, in order to promote the development of Chinese agriculture, this paper suggests that agricultural enterprises should actively implement environmental management and that relevant Chinese authorities should lower the financing threshold of the agricultural industry, while ensuring risk regulation.

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SMIRNOV, Valerii V. "Analyzing Russia's financial potential in global development." Finance and Credit 28, no. 3 (March 30, 2022): 572–96. http://dx.doi.org/10.24891/fc.28.3.572.

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Subject. This article explores the financial position of Russia in global development. Objectives. The article aims to determine the financial potential of Russia in global development. Methods. For the study, I used a systems approach based on the methods of statistical, neural network, and cluster analyses. Results. The article shows the values of Russia's financial potential in global development, defined in the position of connectivity of the Russian and Chinese economies. Conclusions and Relevance. Russia's financial potential points to the possibility of ensuring economic growth in global development by adjusting the growth rate of the balance of payments account in US dollars, transactions and loans in the national currency, strengthening the role of the financial market and institutions. The study expands the scope of knowledge and develops the competencies of the Government of the Russian Federation to ensure economic growth in global development.

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WHAH, CHIN YEE. "State Intervention, Globalization and the Evolution of Malaysian Banks' Identities." Copenhagen Journal of Asian Studies 37, no. 1 (January 7, 2020): 74–102. http://dx.doi.org/10.22439/cjas.v37i1.5907.

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This article describes and explains the evolution of Malaysia's locally owned banks in a series of mergers and acquisitions within national borders and beyond. It argues that state intervention, external economic and financial crises and the liberalization of the financial sector have compelled the consolidation of local banks in Malaysia. The consolidation process has resulted in the increased size of state-owned banks, decreased the number of local Chinese-owned banks and seen a decline in family shareholding in the remaining Chinese-controlled banks. Through regional expansion both Chinese-controlled and stateowned operations have become large-scale regionally based banking groups or global banks, deepening the financial integration in ASEAN countries.

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Zhang, Kai Quan, and Hsing Hung Chen. "Environmental Performance and Financing Decisions Impact on Sustainable Financial Development of Chinese Environmental Protection Enterprises." Sustainability 9, no. 12 (December 6, 2017): 2260. http://dx.doi.org/10.3390/su9122260.

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Alqahtani, Khaled Mohammed. "THE EVALUATION OF CHINESE SMEs DEVELOPMENT FROM 1978 TO 2022." International Journal of Research -GRANTHAALAYAH 10, no. 6 (July 12, 2022): 95–100. http://dx.doi.org/10.29121/granthaalayah.v10.i6.2022.4542.

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With the development of the Chinese economy, SMEs have grown rapidly since 1978. However, SMEs in China suffered from the 2008 global financial crisis. Recently, Chinese SMEs have been badly hit by Covid-19 pandemic. The adverse effects of this pandemic on SMEs in China are still on-going. This research identifies four stages of Chinese SMEs development in different economic environment.

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Zhao, Jianhua. "Financial Geographical Structure and the Gap of Green Development: Evidence from Chinese Cities." Journal of Mathematics 2022 (March 2, 2022): 1–10. http://dx.doi.org/10.1155/2022/6134985.

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In the context of common prosperity, it is of great significance to explore the influence and mechanism of financial development on the gap of green development. This study takes 250 prefecture-level cities in China from 2003 to 2019 as the research object and empirically tests the influence of financial development on the gap of green development by using the super-efficiency SBM model, the two-way fixed effect model, and the mediating effect model. It is found that local financial effect can significantly narrow the gap of green development, while financial spillover effect of the central city can widen the gap of green development. The mechanism analysis shows that enhancing the advancement of human capital helps to optimize the utilization efficiency of financial resources outside the city and thus narrows the gap of green development. Local financial effect narrows the gap by the optimization of industrial structure, the improvement technological innovation, and the decrease of resource dependence, while financial spillover effect narrows the gap only by the optimization of industrial structure. The heterogeneity analysis demonstrates that local financial effect significantly narrows the gap of green development in cities that are 100–200 KM away from the central city in the central region, while financial spillover effect significantly enlarges the gap of green development in cities that are 100–300 KM away from the central city in the western region. The research in this paper facilitates the understanding of the influence of financial development on the gap of green development and puts forward relevant policy suggestions.

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Sohn, Injoo. "Learning to Co-operate: China's Multilateral Approach to Asian Financial Co-operation." China Quarterly 194 (June 2008): 309–26. http://dx.doi.org/10.1017/s0305741008000398.

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AbstractThis study explains the ideational sources of China's proactive multilateral diplomacy towards Asian financial co-operation by employing a learning thesis. Challenging prominent materialist explanations (power-transition thesis, realist balancing thesis and economic utility thesis), this study argues that the collective learning of Chinese policy elites through cognitive dissonance, feedback effects and transnational persuasion explains much of the change in China's relational identity and philosophical beliefs regarding regional co-operation. These prior ideational shifts helped to determine China's behaviour change from its muted opposition to Asian financial co-operation in the 1990s to its active support of regional financial co-operation in the early 2000s, as evidenced in the emergence of the Chiang Mai Initiative, Chinese–Japanese–South Korean trilateral financial co-operation and the Asian Bond Fund Initiative. Chinese learning also suggests that more fundamental changes in China's national preference may make its support for Asian financial co-operation more consistent and stable in the foreseeable future than sceptics might anticipate.

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Lardy, Nicholas R. "Chinese Foreign Trade." China Quarterly 131 (September 1992): 691–720. http://dx.doi.org/10.1017/s0305741000046336.

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China's opening to the outside world was perhaps the most visible of its reforms of the 1980s. China's international trade volume grew dramatically, it attracted tens of billions of dollars of foreign direct investment and it became an active borrower in international financial markets. In contrast to the pre-reform era, foreign trade grew more rapidly than the domestic economy and in some regions of the country it appeared that it had become a powerful engine of growth, accelerating not only the speed of domestic development but the pace of structural and technical transformation as well.

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Xiao, Hong. "A Brief Analysis of Financial Support to Chinese Cultural Industry Development." Journal of Mathematical Finance 07, no. 01 (2017): 180–87. http://dx.doi.org/10.4236/jmf.2017.71009.

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chehui and zhangjiwu zhangxingyang. "The Development Mode of Chinese Property Insurance After Financial Crisis Period." Procedia Engineering 15 (2011): 4978–82. http://dx.doi.org/10.1016/j.proeng.2011.08.925.

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Song, Yu, Bo Chen, Ran Tao, Chi-Wei Su, and Muhammad Umar. "Too much or less? Financial development in Chinese marine economic growth." Regional Studies in Marine Science 37 (May 2020): 101324. http://dx.doi.org/10.1016/j.rsma.2020.101324.

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Zhao, Bingyu, and Wanping Yang. "Does financial development influence CO2 emissions? A Chinese province-level study." Energy 200 (June 2020): 117523. http://dx.doi.org/10.1016/j.energy.2020.117523.

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Yao, Yaojun. "Financial Intermediation Development and Economic Growth: Does the Chinese Counterexample Exist?" China & World Economy 18, no. 5 (September 13, 2010): 22–36. http://dx.doi.org/10.1111/j.1749-124x.2010.01210.x.

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Baloch, Muhammad, Abubakr Saeed, Ishtiaq Ahmed, Judit Oláh, József Popp, and Domicián Máté. "Role of Domestic Financial Reforms and Internationalization of Non-Financial Transnational Firms: Evidence from the Chinese Market." Sustainability 10, no. 11 (October 24, 2018): 3847. http://dx.doi.org/10.3390/su10113847.

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The successful internationalization process of Chinese firms which enhances the sustainability of the Chinese economy receives massive research attention. Studies emphasize that firm’s motives and institutional voids play a pivotal role in getting benefits from the internationalization process, but the factors that initiated this process have been overlooked. The objective of this study is to explore the impact of those institutional factors which initiated the internationalization process. This study reveals that institutional factors of cross listing and increased financial availability induced the internationalization process of Chinese firms. Using the financial data of non-financial firms for the period of 2005–2015, we demonstrate that the domestic financial reforms initiated the internationalization process that helps Chinese economies to achieve sustainable economic development. The study also finds that state-ownership helped firms to gain more from increased financial availability than the stand-alone firms. The study concludes that the open business environment helped firms to survive and sustain the international pressure successfully and maintain their sustainable performance.

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Anosov, B. A. "Regulation of dubious currency transactions and development of the digital yuan in China." Economics and Management 28, no. 11 (November 29, 2022): 1121–32. http://dx.doi.org/10.35854/1998-1627-2022-11-1121-1132.

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Aim. The presented study aims to investigate the regulation of dubious currency transactions in the People’s Republic of China (PRC), the application of the anti-money laundering/combating the financing of terroristm regime, and the development of the digital yuan system.Tasks. The author reveals the essence of the concept of dubious currency transactions in modern China and their legal regulation by Chinese state authorities; considers the legal regime for anti-money laundering/combating the financing of terrorism (AML/CFT); describes the concept of “digital yuan” as a Chinese analog of previously banned cryptocurrencies in China.Methods. This study uses the methods of analysis, grouping, and systematization, a method of synthesizing information from various sources in Chinese and English, and general scientific methods of induction and deduction.Results. The strict system for combating dubious currency transactions developed by the government of the People’s Republic of China has become a significant step in the fight against the legalization of criminal proceeds. Nowadays, Chinese financial regulators pay special attention to any transactions that can be characterized as “dubious”. To effectively combat illegal financial transactions, Chinese AML/CFT standards have been developed and are regularly updated. The Chinese government has regarded cryptocurrencies as a threat to the AML/CFT regime, which led to their complete prohibition on the territory of the PRC. However, the Chinese government has offered an alternative in the form of the digital yuan. Attempts to put it into circulation have been made since 2020.Conclusions. In China, there are strict criteria for declaring foreign exchange transactions as dubious, and Chinese financial institutions have broad powers for their regulation. China’s financial institutions should monitor suspicious transactions at all levels of business management, taking reasonable measures to identify suspicious transactions not only in the process of identifying customers, but also by checking, studying, and analyzing transaction data. The digital yuan, which differs significantly from other cryptocurrencies, is recognized as one of the most developed cryptocurrencies controlled by centralized authorities. The Chinese digital currency is controlled by the Central Bank, minimizing one of the main advantages of cryptocurrencies — user anonymity. If China continues to successfully put the digital yuan into circulation, it may help China protect its so-called monetary sovereignty in the context of US sanctions.

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UMAROV, Husan S. "China's financial services market in the post-pandemic period 2020–2021: Trends and development prospects." Finance and Credit 27, no. 11 (November 29, 2021): 2575–605. http://dx.doi.org/10.24891/fc.27.11.2575.

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Subject. The article addresses the development of the financial services market of China in the context of overcoming the consequences of the COVID-19 pandemic in 2020–2021. Objectives. The focus is on the specific features, advantages and disadvantages of the complex of modern financial services in China; substantiating the reasons for the high efficiency of China's exit from the post-pandemic crisis in comparison with the leading economies of the world; forecasting the potential threats to the Chinese financial services market due to the active spread of a new strain of coronavirus in May?June 2021. Methods. The study employs the systems and comparative analysis, using the tabular, graphic and illustrative materials, and current statistical and reported data of international organizations, audit companies, consulting structures and rating agencies in major scientific Russian and foreign publications. Results. The paper underpins the difficulties of implementing a number of specific features of the financial services market in China from theoretical and practical point of view, presents a prognostic scenario of the Chinese financial services market development in the post-pandemic period. Conclusions. I conclude on high efficiency and effectiveness of support measures taken by the Chinese leadership to preserve the financial balance and facilitate the restoring of China's financial services in the post-pandemic period, prove the optimistic scenario for the development of China's financial services against the background of economic stagnation and a noticeable weakening of foreign competitors, describe potential threats and weaknesses in unstable global economy.

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39

Roberts, Anthony, and Luoman Bao. "Financialization and Wage Inequality in Urban China." Sociology of Development 7, no. 4 (2021): 441–68. http://dx.doi.org/10.1525/sod.2021.0019.

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The growth of wage inequality during a period of rapid economic development and reform in China raises questions about the nature of economic stratification in contemporary Chinese society. The most prominent explanation is that the transition to a market economy contributed to the growth of wage inequality by increasing the returns to human capital and skill in China. However, recent research suggests that the labor market in China is highly segmented across economic sectors because of preferential state investment and reform of strategic sectors. We contend that the growth and prominence of the financial sector in China empowered financial labor to obtain greater compensation, which created a wage premium in the sector. Drawing on nationally representative data on Chinese urban households, we test this argument by estimating adjusted wage differentials between financial and non-financial sectors across the distribution of earnings since the late 1980s. Estimates show that a wage premium emerged in the mid-1990s for low, median, and high earners in the financial sector. Over the next two decades, wage disparities within the financial sector increased as the wage premium shrank for low earners in the sector while expanding for high earners in the sector. We find that this dynamic is explained by growing occupational stratification in the financial sector, where the wage premium greatly expanded for the highest-paid managers and executives. Overall, this study extends the literature on contemporary economic inequality in China by identifying how excessive compensation among top earners in the financial sector contributed to wage inequality.

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40

Korotkevich, A., Xiaoyun Xu, and Ziming Xu. "RESEARCH ON THE EFFECT OF CHINESE FINANCIAL ACTIVITIES ON SCIENTIFIC AND TECHNOLOGICAL INNOVATION." Экономическая наука сегодня, no. 12 (November 5, 2020): 115–28. http://dx.doi.org/10.21122/2309-6667-2020-12-115-128.

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With the continuous development of China's economic level, accelerating industrial upgrading and transformation, building an innovative society has become a new development goal. Financial activities are closely related to economic development. Therefore, studying the impact of China's financial activities on technological innovation is of great significance. This article uses the data indicators in the field of financial activities and technological innovation in China from 2002 to 2018 to construct a vector error correction model (VEC), analyze the implicit correlation between financial activities and technological innovation, and study the promotion of technological innovation by financial activities and put forward policy recommendations to promote the development of China’s financial industry and enhance technological innovation.

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41

XU, GUANGDONG. "China's Financial Repression: Symptoms, Consequences and Causes." Copenhagen Journal of Asian Studies 36, no. 1 (July 4, 2018): 28–49. http://dx.doi.org/10.22439/cjas.v36i1.5511.

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China's fi nancial system conforms to the stereotype described by the theory of financial repression. The banking sector is dominated by state ownership, interest rates are controlled by the government and credit allocation is heavily influenced by political factors rather than by commercial motives. The severity of repression in China's financial sector increased to an unprecedented level after 2008, when the Chinese government poured enormous financial resources into the economy as a response to the financial crisis. Financial repression has seriously damaged the sustainability of China's economy by decreasing economic effi ciency. However, financial repression may be maintained in the future despite its harmful effects because for the Chinese Communist Party control over fi nancial resources is a powerful weapon that can be used when necessary to address certain economic, political or social problems that may endanger its rule. Given the importance of fi nancial resources to the rule of the Party, it is diffi cult to imagine that it will eventually adopt a liberalization strategy and relinquish its control over the financial system.

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42

Nam, Soojoong, and Guimin Lu. "Impact of Financial Development on Economic Growth in Chinese Perspectives: ARDL Approach." Northeast Asia Economic Association Of Korea 34, no. 2 (August 31, 2022): 1–36. http://dx.doi.org/10.52819/jnes.2022.34.2.1.

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In this paper we examine the dynamic causal relationship between financial development and economic growth in China-using the newly developed ARDL-Bounds testing procedure. We use four proxies of financial development, namely M2/GDP, the ratio of private sector credit to GDP, the ratio of stock market capitalization to GDP and the ratio of bond market to GDP in order. The analysis period used annual data from 1978 to 2019. For analyzing the long term equilibrium relationship between the desired variables, we have employed Autoregressive Distributed Lag(ARDL) Bound testing approach. ARDL being a new approach is an improvement over the other traditional techniques of cointegration. Further, using the technique of bound testing approach, we have tried to estimate the impact in the short run also. The findings suggest that there exist an equilibrium relationship in long run between financial development and economic growth. The results suggested that financial development causes economic growth in the long run, however not statistical significance in the short term.

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43

Ávila-López, Luis Alfredo, Mengxue Zhen, and Carolina Zayas-Márquez. "Will Local Financial Development Affect the Competitive Advantage of Chinese Enterprises' Exports?" Jurnal Institutions and Economies 15, no. 1 (January 1, 2023): 27–44. http://dx.doi.org/10.22452/ijie.vol15no1.2.

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Many studies confirm the impact of financial development on the macro economy, but systematic studies of the impact of financial development on corporate exports is still lacking. Based on the quasi-natural experiment established by city commercial banks, this paper uses micro-data of Chinese industrial enterprises from 1998 to 2013 and adopts a double difference method to test the impact of the development of local financial institutions on corporate exports. The results show that the establishment of city commercial banks has significantly increased the export participation rate and total export volume of manufacturing enterprises in the city where they are located; comparatively speaking, its impact on the export expansion margin of industrial enterprises exceeds the intensive margin. At the same time, the study also found that the above-mentioned influences exist in both long-term and short-term, and in enterprises of different sizes and attributes. These findings provide new evidence for understanding the relationship between local financial development and corporate exports.

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Zhang, Yuan, and Ying Chen. "Research on Improvement Mechanism of Financial Management to Service Capability of Chinese Technological Small and Medium Enterprises." E3S Web of Conferences 235 (2021): 01059. http://dx.doi.org/10.1051/e3sconf/202123501059.

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Technological SMEs are committed to the commercialization of scientific and technological achievements, and conducive to meeting social needs, increasing employment and promoting technological progress. However, in the actual development process, there are problems such as weak financial management ability and low external service level restricted development of Chinese technological SMEs. This paper analyzes the mechanism and existing problems of the financial management of Chinese technological SEMs in improving their service ability, and explores ways to improve their financial management and service capability.

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45

Dittmer, Lowell. "Leadership Change and Chinese Political Development." China Quarterly 176 (December 2003): 903–25. http://dx.doi.org/10.1017/s0305741003000547.

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This article has three goals. The first is to characterize the nature of the current Chinese political system, culminating at the 16th Party Congress, as a combination of economic, domestic political and foreign policy reform. Economically, it represents a continuation of marketization, privatization and globalization under more centrally controlled auspices. Politically, it represents a continuation of Dengist emphases on elite civility and administrative institutionalization. And in foreign policy, it brings China to the threshold of great power status, as the old ambivalence between overthrowing the international system and assuming an important role within it nears resolution. The second purpose, viewing “Jiangism” in comparative developmental terms, conceives political development in terms of both state-building and nation-building: the greatest emphasis has been on the former. The third goal is to subject Jiangism to immanent critique by pointing out the most conspicuous emergent contradictions. These seem to include gaps between rich and poor and between east and west, a largely unsuccessful attempt to reform the nation's industrial core and its attendant financial system, and a paradoxical inability to police the state even while increasing state capacity.

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46

Zhang, Guangxu. "Trial Analysis of the Development of China’s Commercial Banks’ Wealth Management Business and Its Countermeasures." Journal of World Economy 1, no. 1 (November 2022): 1–9. http://dx.doi.org/10.56397/jwe.2022.11.01.

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In recent years, China’s economy has been developing rapidly, and domestic investors’ concept of financial management has been increasing, as well as the demand for financial products. Domestic commercial banks have continuously responded to this phenomenon by continuously launching new wealth management products and enriching the number of wealth management products, and the Chinese wealth management market has successfully stepped into a stage of rapid development. In April 2018, the People’s Bank of China came out with new regulations on asset management to support foreign legal financial institutions to enter the Chinese market, which is not only conducive to learning from foreign advanced experience, but also promotes the healthy and sustainable development of the domestic financial market, and Chinese commercial banks’ wealth management business is facing new development opportunities. As an important intermediary business of banks, the development of banks’ wealth management activities generally reflects the trend of continuous enrichment of investment varieties and expansion of financial market scale, and while it plays a positive role in broadening investment channels and improving business models, there are also many problems. This paper analyzes the development status and problems of commercial banks’ wealth management business with a view to providing some policy suggestions to commercial banks, investors and regulators.

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47

XIONG, LING, and SHAOZHOU QI. "FINANCIAL DEVELOPMENT AND CARBON EMISSIONS IN CHINESE PROVINCES: A SPATIAL PANEL DATA ANALYSIS." Singapore Economic Review 63, no. 02 (March 2018): 447–64. http://dx.doi.org/10.1142/s0217590817400203.

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Using the panel data of 30 provinces in China between 1997 and 2011, we employed the extended STIRPAT model and spatial panel econometrics methods to investigate the relationship between financial development and carbon emissions and test the influence of financial development as well as other factors on provincial carbon emissions per capita among Chinese provinces. The estimation results show that: (i) spatial spillover effects play a role in provincial carbon emissions in China; and (ii) the sum of technical effect and structure effect of financial development surpass its’ sum of direct effect and wealth effect in China, which suggests that financial development reduces carbon emissions per capita. China should pay more attention to the integration of green finance policy and environmental regulation, and establish appropriate mechanisms to strengthen inter-provincial interaction and coordinated development.

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48

Liu, Chelsea, Graeme Gould, and Barry Burgan. "Value-relevance of financial statements." International Journal of Managerial Finance 10, no. 3 (May 27, 2014): 332–67. http://dx.doi.org/10.1108/ijmf-02-2011-0016.

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Purpose – The Chinese capital markets are divided into two segments comprising of A-shares (traded by domestic investors) and B-shares (traded by foreign investors). Firms issuing A-shares are required to produce accounting reports under the Chinese Accounting Standards (CAS) and firms issuing B-shares are required to report under the International Accounting Standards (IAS). The purpose of this paper is to investigate the comparative value-relevance of accounting information in the Chinese capital markets, in particular whether the value-relevance associated IAS exceeds that of CAS. Design/methodology/approach – This study undertakes a capital market research approach. Two statistical models are employed to test the value-relevance of competing accounting information on share prices: the Price Model and the Return Model. This study takes advantage of the parallel reporting frameworks governing the A-share and B-share markets buy using the same firms which issue both A-shares and B-shares. Findings – The analysis supporting the study demonstrates that both CAS and IAS information is value relevant to investors in the Chinese capital markets but that IAS provide more useful information. Additionally it is observed that reconciliation variables (representing the discrepancy between IAS- and CAS-based accounting figures) are not significant in explaining market valuation or returns on stock. Research limitations/implications – This study provides evidence of value-relevance of accounting reports on the Chinese capital markets for the period of 1999-2005. The period under investigation captures the significant development in China's accounting regulations which took place in 1998 and 2001. The recent shift in accounting regulations in China from CAS to IAS is expected to improve the dissemination of financial information by publicly listed Chinese firms. Practical implications – This study investigates the reporting requirements on the Chinese capital markets during a period in which accounting reporting requirements underwent a significant change as part of the internationalization of accounting standards. Both A- and B-share markets were investigated simultaneously in order to provide an objective analysis and avoid sampling selection bias present in other studies. Social implications – The recent shift in accounting regulations in China from CAS to IAS is expected to improve the dissemination of financial information by publicly listed Chinese firms. Originality/value – This paper extends previous research on value-relevance of accounting reports in the Chinese capital markets by capturing the period in which the reporting requirements had experienced significant change. This paper also takes advantage of the dual reporting framework in order to mitigate potential sampling bias present in previous studies and employs a reconciliation variables not previously used.

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49

Bruntz, Courtney. "Religion as Financial Asset: State Investments in Chinese Buddhism." Journal of Human Values 27, no. 1 (December 8, 2020): 72–83. http://dx.doi.org/10.1177/0971685820973189.

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This study uncovers reasons why Buddhist sites in China since the time of Mao have received government patronage, and it argues that economic development at Buddhist sacred sites has resulted in religious revivalism—a perhaps unintended consequence of state support. The focus of the work is at Mount Putuo—the home of the Bodhisattva Guanyin—and data collected come from fieldwork during the summers of 2012 and 2013. The first portion of the study examines the various ways individuals have sponsored Buddhist sites through Chinese history and identifies the upholding of miracle tales, the financing of temples and the creation of religious commodities as particularly significant. The second portion of the study examines and evaluates contemporary financing, especially the processes of commodification that shape sacred sites like Mount Putuo. At the conclusion of this article, the author argues that Buddhist practice today has not been hindered by economic development but instead revived.

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50

Ding, X. L. "Systemic Irregularity and Spontaneous Property Transformation in the Chinese Financial System." China Quarterly 163 (September 2000): 655–76. http://dx.doi.org/10.1017/s0305741000014600.

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Although the Chinese leadership and international observers disagree on many things about China, they share at least one assessment: corruption has penetrated China's public sector, and the state financial system is among the worst examples. In Transparency International'sCorruption Perception Indexreleased annually since the early 1990s, China has been placed either into the bottom group (“the most corrupt”) or at the lower tier (“more corrupt than the majority”). During the Asian financial crisisThe Economisteven called the Chinese state banks “the worst banking system in Asia.” The Communist Party leader Jiang Zemin, when addressing a 1996 general meeting on Party discipline, marked several domains as the “major problem area” where big corruption and crime cases concentrated, and the financial sector topped the list. The Prosecutor General, in his 1998 work report, urged law enforcers to pay special attention to the abuses of power by financial officials.

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Journal articles on the topic 'Chinese financial development'

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