We investigate informal financing such as trade credit in China. The credit for both state-owned enterprises (SOEs) and non-SOEs dramatically increased over time. Our results suggest that non-SOEs rely more on trade credit financing, but this effect is mitigated by supplier's liquidity position....

If the domestic market operates under an inefficient economic structure, then access to foreign markets can lead to long-term benefits. In this paper, we examine the effect of free trade zones (FTZs), a progressive trade liberalization program, on corporate innovation. By using data on Chinese...

Purpose – The purpose of this paper is to propose advice on the design of pilot real estate investment trusts (REITs) and the future development of a REITs market in China. Design/methodology/approach – This study presents a qualitative analysis on unique attributes of the Chinese market....