As financial institutions and policymakers worldwide are considering how to integrate sustainability considerations throughout financial systems, a critical question is whether banks can effectively assess and monitor borrowers' environmental credit risk. China's green credit reforms, part of...

This paper examines the progress of state-owned enterprise (SOE) reform in the People’s Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE...

Since the first corporate law in China was passed in 1993（the 1993 Corporate Law), China took a rather strict approach on enforcing capital maintenance requirement, especially through a requirement of a statutory minimal registered capital. Such an approach survived in the substantial revision...

China could not have achieved its economic growth in a vacuum of legal development. But its legal system is facing unprecedented challenges brought about by vast social changes and the country's increasingly deep integration with the rest of the world. One such challenge is the sudden...

President Xi Jinping pronounced in April 2014 that China has entered a New Normal in economic growth, and the common perception was that it meant a new trend growth rate of about 7.0 percent. After growth came in at 6.9 percent in 2015, and the World Bank's projections in January 2016 that...

Using a worker-firm matched sample, this paper compares the changes of wage structures of urban and rural enterprises following public sector restructuring in China's manufacturing sector. While the wage responses of rural firms with respect to firm characteristics are found to have declined...

Per the invitation of the 2008 China-US Forum and Gala Organizers, the author shared China's experience on financial reform and opening-up over the past three decades on a step-by-step basis. During this process, China has created some unique financial structures that may well be worth looking...

In excess of 1,500 firms have listed publicly on the Shanghai and Shenzhen stock exchanges in China since 1990. With close to 20 years of unique IPO activity, China represents a rich source of data to explore the IPO aftermarket performance. The sample of this study includes 311 IPOs issued from...

This paper examines the progress of state-owned enterprise (SOE) reform in the People's Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE profitability...

The North Korean economy has been a statistical black hole for decades but is undergoing substantial transformations. Rapid post-war industrialisation was not sustained beyond the mid-1960s and South Korea’s economy far outpaced North Korea’s during the next three decades, during which trend...