Shadow Banking in China : Risk, Regulation and Policy

"Shadow Banking in China: Risk, Regulation and Policy by Professor Shen Wei is a timely book, presenting readers with a comprehensive and coherent conceptualization of shadow banking in China. It systematically defines shadow banking, describes how the different types of shadow banking subsectors — including wealth management products, peer-to-peer lending, local government financing vehicles, and underground lending — are growing, and examines how Chinese regulators are responding. It also explains the risk-taking, economics, and behavioral aspects of each of these subsectors, revealing the endogenous market forces driving their expansion and describing how shadow banking is innovatively helping to channel funding to the cash-starved private sector and real economy." — from the Foreword by Steven L. Schwarcz, Duke University School of Law, US