We make four contributions in this paper. First, we provide a core of macroeconomic time series usable for systematic research on China. Second, we document, through various empirical methods, the robust findings about striking patterns of trend and cycle. Third, we build a theoretical model...

This paper investigates how banks’ loan pricing responds to the environmental performance of borrowing companies. Using a unique hand-collected dataset of bank loans in China, we find that banks reward borrowers that have higher environmental responsibility scores with lower loan interest...