Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2019 | nr 4 | 347--374
Tytuł artykułu

The Interconnectedness between Traditional Banks, Shadow Banking and Non-Performing Loans in the Chinese Economy

Warianty tytułu
Języki publikacji
During the last few decades, China has been developing traditional banking in parallel to the shadow banking sector. The unregulated part of the Chinese financial market is strictly interconnected with traditional banks. It was especially visible after the financial crisis of 2008-2010, when shadow banking helped to fuel the economy with debt on a large scale. The excessive investments in some sectors of the Chinese economy contributed to the growth of NPLs in traditional banks. Shadow banking being entangled with the formal Chinese banking sector might be enumerated among the crucial causes of the process. The authorities and regulating bodies implemented many measures aimed to limit the amount of bad debt, together with limiting the operations of shadow banking entities, but the final result of these activities is still unknown. It might be predicted that the level of NPLs will not be constrained in the near future. (original abstract)
Opis fizyczny
  • Jagiellonian University
  • Jagiellonian University
  • Jagiellonian University
  • Barth J.R., Li L., Song F. (2013), Reforms of China's banking system, in: G. Caprio (ed.), The Evidence and Impact of Financial Globalization, Elsevier.
  • Bloomberg News (2017), China moves to rein in risks from asset-management products, 17 November.
  • Borst N. (2015), Balancing the state and the market: banking reform in China and Vietnam,Asia Focus, Federal Reserve Bank of San Francisco, September.
  • Bowman P.J., Hack M., Waring M. (2018), Non-bank financing in China, Reserve Bank of Australia Bulletin, 15 March.
  • Buitelaar P. (2014), Chinese banks - risks and challenges, DNB Occasional Studies, 12(4).
  • Chen G. (2013), China Development Bank grabs chance for aggressive global loan expansion, Banking and Finance, 13 March.
  • Chen S., Wu N. (2015), China Banking Sector, DBS Group Research.
  • CBRC (2013), China Banking Regulatory Commission2012 Annual Report,China CITIC Press.
  • CBRC (2016),China Banking Regulatory Commission 2015 Annual Report.
  • China Daily (2017a), China moves to deleverage without destabilizing growth, 26 April.
  • China Daily (2017b), China's NPL securitization market show solid performance, 16 August.
  • China Power (2018), Does China face a looming debt crisis?, looming-debt-crisis/.
  • Choi J.J., Powers M.R., Zhang X.T. (2016), Market socialism with "Chinese characteristic", in: J.J. Choi, M.R. Powers, X.T. Zhang (eds.), The Political Economy of Chinese Finance, Emerald Group Publishing.
  • Chow G.C. (2004), Economic reform and growth in China, Annals of Economic and Finance, 5, 131-132.
  • Dieppe A. et al. (2018), The transition of China to sustainable growth - implications for the global economy and the euro area, ECB Occasional Paper Series, 206.
  • Edwards J. (2016), IMF: Chinese banks are disguising a massive amount of bad debt, Business Insider, 23 November.
  • Ehlers T., Kong S., Zhu F. (2018), Mapping shadow banking in China: structure and dynamics, BIS Working Papers, 701, February.
  • Elliott D., Kroeber A., Qiao Y. (2015), Shadow banking in China: a primer, The Brookings Institution, 2 March.
  • Elliot D.J., Yan K. (2013), The Chinese Financial System. An Introduction and Overview, John L. Thornton China Center at Brookings.
  • Fang X., Jiang Y. (2016), Impact of the joint-stock reform of commercial banks on the effectiveness of the monetary policy in China, PANOECONOMICUS, 63(3), 328-329.
  • Financial Times (2017), China to tighten regulation of Fintech consumer loans, 29 October.
  • FSB (2016), 2016 list of global systemically important banks (G-SIBs), 21 November.
  • Garcia-Herrero A., Gavila S., Santabarbara D. (2006), China's banking reform: an assessment of its evaluation and possible impact, CESifo Economic Studies, 52.
  • Huang Y., Bosler C. (2014), China's Debt Dilemma: Deleveraging While Generating Growth, Carnegie Endowment for International Peace.
  • IMF (2016), The People's Republic of China: selected issues, IMF Country Report, 16/271.
  • Jiang Ch., Yao S. (2017), Chinese Banking Reform: from the pre-WTO period to the financial crisis and beyond, The Nottingham China Policy Institute Series, Palgrave Macmillan.
  • Lan G. (2015), Insights from China for the United States: shadow banking economic development, and financial systems, Berkeley Business Law Journal, 12(1), 144-195.
  • Lelyveld M. (2018), China toughens shadow banking controls,
  • Lemma V. (2016), The Shadow Banking System, Palgrave MacMillan.
  • Liang Y. (2016), Shadow banking in China: implications for financial stability and macroeconomic rebalancing, The Chinese Economy, 49(3), 148-160.
  • Luo D. (2016), The Development of the Chinese Financial System and Reform of Chinese Commercial Banks, Palgrave Macmillan.
  • Łasak P. (2018), Structure and risks of the Chinese shadow banking system: the next challenge for the global economy? Regulation, governance and performance, in: M. Garcia-Ollala, J. Clifton (eds.), Contemporary Issues in Banking. Regulation, Governance and Performance, Palgrave Macmillan.
  • Martin M.F. (2012), China's Banking System: Issues for Congress, Congressional Research Service.
  • McCrum D. (2018), Over in China, a debt boom mapped, Financial Times, 5 February.
  • Mehran H., Quintyn M., Nordman T., Laurens B. (1996), Monetary and exchange system reform in China: an experiment in gradualism, International Monetary Fund Occasional Paper, 141, 2.
  • Moody's Investor Service (2017), Moody's: China's securitization of NPLs will continue to grow on push by banks and government, 12 April.
  • Okazaki K. (2007), Banking system reform in China: the challenges of moving toward a market-oriented economy, RAND National Security Research Division, Occasional Paper, 7-9.
  • Parker J. (2014), China's shadow banking challenge, The Diplomat, 20 January.
  • Perkowski J. (2012), China's financial institutions expand overseas, Forbes, 25 September.
  • Ping S.J. (2015), China MSME Finance Report 2015, Central University of Finance and Economics.
  • PWC (2015), China's non-performing loans are rising fast. Are there now opportunities for investors?, 2 December.
  • Rao C.R., Toutenburg H. (2008), Linear Models and Generalizations. Least Squares and Alternatives, Springer.
  • Reuters(2018), China tightens regulations on investment and shadow banking, 6 January.
  • Sekine E. (2015), Reforming China's financial markets: the problems of shadow banking and non- -performing loans, Public Policy Review, March, 102-103.
  • Sheng A., Edelmann Ch., Sheng C., Hu J. (2015), Bringing Light Upon the Shadow. A Review of the Chinese Shadow Banking Sector, Oliver Wyman and Fung Global Institute.
  • Sheng A., Soon N.Ch. (2016), Shadow Banking in China. An Opportunity for Financial Reform, John Wiley & Sons.
  • Shih V. (2017), Financial Instability in China: Possible Pathways and their Likelihood, Mercator Institute for China Studies.
  • Si W. (2015), Banking reform in China, Jindal Global Law Review, 6(2), October, 190-192.
  • Sun G. (2018), Measuring Chinese shadow banking: banks' shadow and traditional shadow banking, Vox China, 7 February.
  • Tam O.K., Liang H.Y., Chang K.J. (2016), Corporate governance of China's city commercial banks, in: Ch.A. Mallin (ed.), Handbook on Corporate Governance in Financial Institutions, Edward Elgar.
  • Tan Y. (2016), Efficiency and Competition in Chinese Banking, Chandos Publishing.
  • Tham E., Miller M., Lague D. (2017), China's leaders fret over debts lurking in shadow banking system, Reuters, 28 December.
  • Tsai K.S. (2015), The rise of shadow banking in China: the political economy of modern Chinese state capitalism, HKUST Thought Leadership Briefs, 10.
  • Wei S. (2016), Wealth management products in the context of China's shadow banking: systemic risks, consumer protection and regulatory interests, Asia Pacific Law Review, 23(1), 58-61.
  • Weinland D. (2016), China plans securitization to tackle banks' bad debt burden, Financial Times, 3 March.
  • Weinland D. (2018), China shadow bank clampdown eyes $ 2tn of entrusted loans, Financial Times, 8 January.
  • Weinland D. (2019), China bad debt disposals hit levels not seen for 20 years, Financial Times, 23 January.
  • Wildau G. (2017), Shadow bank crack down prompts China cash crunch, Financial Times, 24 March.
  • Yong T. (2014), Performance, Risk and Competition in the Chinese Industry, Chandos Publishing.
  • Zhu N., Conrad J. (2014), The People's Republic of China, Knowledge Work on Shadow Banking - Trust Funds and Wealth Management Products, ADB Consultant's Report, May.
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.