We develop a stylised shadow banking map for China with the aim of providing a coherent picture of its structure and the associated financial system interlinkages. Five key characteristics emerge. One defining feature of the shadow banking system in China is the dominant role of commercial...

We provide a novel database of 140 cases of official debt restructurings that China conducted between 2000 and 2019 in 64 debtor countries. The database shows that China has executed the majority of debt restructurings through debt forgiveness rather than through debt rescheduling, such as...

The market for the credit ratings of Chinese firms is large and growing. We focus our analysis on the firms that have ratings from both domestic and global agencies. Despite the similar symbols, the rating scales of the domestic and global agencies differ: domestic agencies rate firms that are...