Against the background of the reform wave of banking regulation and supervision over the world, we review the development path of banking regulation and supervision in China to understand how and in which direction the regulatory and supervisory framework in China evolved and how regulation and...

While the banking sector in Western economies had been heavily hit by the latest financial crisis, the banking sector in China seems to perform well. Nevertheless, as the shadow banking system is said to have been one of a variety of causes for the current financial crisis, it also exists in...

We find crackdown on shadow banking has real effects. For identification, we exploit a policy - “ New Regulations on Asset Management “ (NRAM) - that restricts the issuance of wealth management products (WMP) in China. We show firms with high WMP exposure experience a decline in investments....