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Government Deleveraging and Non-SOE Liquidity Squeeze: Evidence from Subnational Debt and Government Contractors

Jiayin Hu, Songrui Liu, Yang Yao, Zhu Zong, May 15, 2024

China's deleveraging policies have inadvertently exacerbated the financial liquidity pressure on non-state-owned enterprise (non-SOE) contractors, revealing the potential adverse impact of government fiscal consolidation on private enterprises.

Understanding the Evolution of China’s Production and Trade Patterns

Hanwei Huang, Jiandong Ju, Vivian Yue, Oct 09, 2024

The article discusses how capital accumulation has driven China's transition towards capital-intensive industries, while labor-biased productivity growth has helped China maintain a competitive edge in labor-intensive sectors.

Cash in the Darkness

Haohan Ren, Kemin Wang, Bohui Zhang, Fan Zhang, Jan 12, 2024

Relying on a large dataset on cash withdrawals of over 165 million bank cards from China, we find a higher ratio of cash withdrawals late at night is associated with criminal activity.

Financial Spillovers of Foreign Direct Investment: Evidence from China

Haoyuan Ding, Shu Lin, Shujie Wu, Haichun Ye, May 08, 2024

Foreign Direct Investment (FDI) has enhanced the financial conditions of Chinese enterprises, particularly through the financial spillover effects generated by supply chain connections, which have helped to reduce the burden of trade credit and increase opportunities for bank financing.

Does Farming Culture Shape Household Financial Decisions?

Fang Yu, May 01, 2024

This article discussing the collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.The collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.The collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.