English Abstract: The authors review the availability and allocation of commercial credit in China, the investment options presented to savers and the funding options available to Chinese banks. They highlight the markets intrinsic deficiencies, vast externalities and tremendous potentials for...

Chinese Abstract: 互联网经济通过大幅度降低交易成本和降低信息不对称程度，加速现有交易的发 生，并促成新的交易，提高整体社会福利。由于还没有充分考量“数据”和“信息”等新要...

Chinese Abstract:...

English Abstract: The author proposes a new type of asset-backed security, called Exchange Traded Pieced Loan (ETPL), designed to address a variety of major issues for savers, lenders, borrowers, authorities and other stakeholders in China's markets for investment and credit. An ETPL's...

The English version of this paper can be found at "http://ssrn.com/abstract=3486211" http://ssrn.com/abstract=3486211.Chinese Abstract:...

Chinese Abstract:...