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Housing industry is one of the major threats to global environment and resource depletion. Particularly in China, it is regarded as a major challenge due to massive population growth. The most common barriers involve; economic barriers and environmental barriers. Therefore, to promote sustainable housing development, the management of these barriers is most crucial. This study is an attempt to overcome these barriers with the help of financial institutions in the context of China. The sample of the study are construction sector employees which are selected through simple random sampling method. Partial Least Square (PLS) is employed as statistical tool to analyze the primary data. Results revealed the positive role of financial institutions to overcome the challenges related to the economic barriers and environmental barriers. Financing from banks for the sustainable housing schemes can reduce the economic barriers and help to fulfil the sustainable housing criteria. Similarly, the environment requirements can also be achieved through environmental policy developed by the banks in China. This study recommended the Chinese government to promote sustainable hosing development through the promotion of bank financing and implementation of banks environmental policies. [ABSTRACT FROM AUTHOR]

This study investigates the impacts of global economic policy uncertainty (GEPU) and domestic (Chinese) economic policy uncertainty (CEPU) on the long-run volatility of the tourism stock market in China based on an improved GARCH–MIDAS–X model. Empirical results reveal that both CEPU and GEPU have significant negative effects on the long-run volatility of China's tourism stock market. It is further identified that the impact of GEPU on tourism companies' performance is short-lived. The findings suggest that tourism-related practitioners should monitor both CEPU and GEPU when conducting risk assessments related to tourism investment and policymaking. [ABSTRACT FROM AUTHOR]

In this exploratory research, we examine the effect of economic and noneconomic indicators on the creation of Chinese Banking and Insurance Regulatory Commission policies using a VAR model. We find that CBIRC policies are predicted by State Council construction policies and policies set by the State Administration of Foreign Exchange. This indicates that the CBIRC is inward-looking, observing what other regulators are doing rather than responding to changes in the real and financial economy. This may be a product of market distortions due to China's unique blend of state-oriented and market-based institutions. [ABSTRACT FROM AUTHOR]

This article introduces a special issue on technological development and policy making in China, highlighting their importance for China's economic growth. It discusses the shift in China's economy from reliance on property sector investment and low-value manufacturing to a new paradigm based on technological innovation and internal market expansion. The article emphasizes the need for adaptive policy making and financing support for science and technology development to enhance productivity growth. It also explores the Augmented National Innovation System (ANIS) in China, the growth of the semiconductor industry, and the limitations of the fiscal system. The research papers in this collection provide insights into China's economic transformation and propose reforms to support its development. [Extracted from the article]

This study aims to test whether banks can recognize different signals from different types of government grants received by their clients and respond differently. Using a novel panel data set from China, we construct a three-way fixed-effect regression model and empirically explore the effect of government grants received by banks' clients on banks' lending decisions. We find that banks have heterogeneous attitudes towards their clients when the clients receive different types of government grants. In particular, we discover that banks behave positively toward clients who receive "development supportive" grants but negatively toward clients who receive "helping hand" grants. The main results hold after a series of robustness tests. Our study offers fresh perceptions on how banks see government grants of their clients while making lending choices. Our finds will offer certain inspirations for government grant policies and bank lending decisions. [ABSTRACT FROM AUTHOR]

We take the mandatory establishment of the Inclusive Finance Division in large state‐owned banks as a quasi‐experiment to explore the impact of inclusive finance policy on operating performance and risk‐taking behaviours of small regional banks. Using financial information for Chinese banks from 2013 to 2019, we find that small regional banks' performance deteriorated, and they engaged in more risk‐taking activities after the policy shock. Moreover, there are even much sharper performance declines in subsets of city commercial banks, and banks face high competition from large state‐owned banks. [ABSTRACT FROM AUTHOR]

The Common Framework is the internationally agreed process for coordinating the restructuring of the debt of low‐income countries. To date, this process, which was established by the G20 in late 2020 during the COVID‐19 pandemic, has failed to provide an efficient path toward agreement with new bilateral creditors (such as China), market creditors and the traditional bilateral creditors. An analysis of the key country cases demonstrates how tensions between different creditors have complicated the application of the Common Framework and delayed agreement on new financial terms. The Common Framework was built on a case‐by‐case judgement of the scale of debt relief needed. It has become a case‐by‐case negotiation on the format for carrying out a restructuring, as well as the terms of the restructuring. China's participation in official creditor committees, the clear innovation in the Common Framework, has proved to be a source of delay rather than a mechanism for creating consensus. Almost three years after the initial agreement on the Common Framework, there still is no model for an internationally coordinated restructuring that both delivers significant debt relief and includes the Chinese policy banks. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Distance Education (1672-0008) is the property of Zhejiang Open University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The fundamental purpose of this study is to conduct an inquiry into the efficacy of China's green credit strategy, and that will be the core focus of the investigation. As part of this study, we investigate whether or not businesses that increase the environmental transparency of their operations to the outside world and green innovation within their operations are rewarded with more favorable bank loan terms as a direct result of receiving green credit. Specifically, we look at whether or not these businesses are awarded green credit. Our hypothesis is put to the test by using the difference-in-differences (DID) model and the data that was collected from a sample of 1086 publicly traded Chinese manufacturers over the years 2012 to 2017. According to the data, businesses that improve the quality of their environmental disclosures do not receive an increase in their access to corporate finance. On the other hand, businesses that introduce new environmentally friendly breakthroughs do receive an increase in their access to corporate finance. Our research demonstrates that the root of the problem is corporate green-washing, a practice that is common in regions with low environmental disclosure standards and makes it more difficult for businesses to obtain new loans. This practice is popular in areas where environmental disclosure standards are lax. This is the most basic explanation for why the phenomena occur in the first place. Our findings contribute to the literature on themes including green credit policy, corporate green innovation, environmental transparency, and green-washing, all of which are useful to corporations, governments, and financial institutions. [ABSTRACT FROM AUTHOR]

Chinese two policy banks implemented long-term equity injections for some listed companies through special construction funds from 2015 to 2016. We use the PSM-DID method to examine the effect of this equity injection on corporate financing decisions. We find that the equity injection has the financial effect of broadening corporate financing channels and optimizing debt structure, which raises the speed of capital structure adjustment and encourages corporate investment. Financing cost, financing channel, and corporate governance mechanisms can explain the financing effect of equity injection policy, showing that the signal channel plays a vital role in the equity injection policy. Companies with weak financing capabilities, such as private, small scale, weak profitability, central and western region companies, benefit more from the equity injection policy. Corporate governance capabilities significantly affect policy effectiveness. Our conclusions are robust after satisfying the assumptions and other factors that may interfere with the empirical results. We confirm the role of equity injection in reducing corporate financing costs, stabilizing investment, and encouraging long-term, high-quality development of corporations. [ABSTRACT FROM AUTHOR]

Using a carbon emission trading pilot policy in China, we construct a DID method to investigate the effect of carbon emission trading on corporate financial behaviour. We find that enterprises in the pilot areas get less bank loans after the 'pilot policy', which indicates that carbon emissions trading has a negative impact on debt financing. Additional analysis shows that the negative influence is more significant in state-owned enterprises. Our study provides a more complete picture of the microeconomic impact of carbon emissions trading, and improves our understanding of the role and significance of corporate 'carbon assets' in the capital market. [ABSTRACT FROM AUTHOR]

Government officials in China have taken different views regarding shadow banking. Some have seen the industry as overly risky, potentially undermining the formal financial system, while others have asserted that it is an increasingly important part of the financial system, filling a gap in finance provision to particular sectors and smaller firms. Do their views matter? Regulators have striven to crack down on the riskiest practices in shadow banking, but are the policies effective? In this article, we analyze the impact of government attitudes and actions on the shadow banking sector. Using a unique data set based on information collected from various sources in a difference-in-difference model, we find that shadow banking regulation plays a strong role in China's financial sector, while contradictory government views (in the form of commentary in the People's Daily) on shadow banking do not. This reveals that shadow banking is strongly affected by political authority when it is codified into regulation. Only some aspects of shadow banking can be legitimized through regulation, while the remainder of China's financial system remains constrained due to state dominance over the financial sector. This underscores the "funny" nature of shadow banking's money flows. This article is one of the first to study the effects of government views and regulations on the shadow banking system. [ABSTRACT FROM AUTHOR]

Using a set of Chinese economic data and a structural vector autoregression (SVAR) model, this paper investigates the transmission channels of fiscal policy to bank credit in China. We find that increases in tax revenue can increase bank credit through external financing premium channel, collateral channel, and bank liquidity channel. We also find that increases in government spending can reduce bank credit through bank liquidity channel and increase bank credit through external financing premium channel and collateral channel. [ABSTRACT FROM AUTHOR]

Over the last years, Brazil and China's oil-related finance activities have expanded substantially. Between 2007 and 2019, Brazilian companies received approximately one-fourth of Chinese policy banks overseas oil-related loans, and Chinese financial institutions became Brazil's biggest oil company Petrobras' main creditor. A deep analysis of these loans highlights their usage as economic statecraft tools, with impacts on the bilateral crude trade and investments. Loan-for-oil mechanisms, content purchase requirements, and a countercyclical lending pattern have helped to influence Brazilian players to behave in a manner conducive to the Chinese state's energy security objectives and strategic goals, namely increase of imports, diversification of sources, and internationalisation of firms. With these loans, China has satisfactorily guaranteed a stable oil supply over time and has helped Chinese equipment makers and service providers to expand their footage in Brazil. [ABSTRACT FROM AUTHOR]

How is the rise of China affecting international governance? This paper examines the domain of infrastructure finance by focusing on China's two policy banks, which are the main creditors of China's overseas infrastructure projects. While the incumbent international credit regimes led by the Organisation for Economic Co-operation and Development (OECD) distinguish development-oriented aid from commercially oriented export credits, emerging late-developed economies blur this dichotomy by largely funding development projects with state-backed export credits. The way China alters the OECD's credit governance, this paper argues, demonstrates both the generality of late development and the peculiarity of "Chinese" development. Rather than directly subsidizing firms' international business with the state's fiscal revenue, policy banks financialized host country's state-owned and state-coordinated assets using various market instruments. By doing so, they gave Chinese firms a comparative advantage in the markets of less developed regions, allowing them to undertake projects that firms from advanced industrial countries cannot. This financing mechanism has reshaped the international development regime by transforming the dominant means of credit allocation from state-led aid-giving to market-based exchange, and rewritten the liberal rules of the international export credit regime by financing the developing world in a both statist and liberalist manner. As a result, China has built a paralleled regime in regions insufficiently covered by the existing financial schemes of incumbent credit regimes. [ABSTRACT FROM AUTHOR]

We develop a DSGE model with cash deposits and digital currencies to study the economic stability of two potential central banking policies in China, a Loan Prime Rate (LPR) policy function and central bank digital currency (CBDC) implementation. We Bayesian-estimate both a benchmark model and a "Post-CBDC world". In the post-CBDC world, although the introduction of CBDC appears to deepen the procyclicality of macroeconomic variables to real shocks, a potential LPR-setting policy appears to have some degree of policy complementarity with CBDC to mitigate this. We also uncover an optimal policy combination of the LPR rule and Taylor-style CBDC rule. • A DSGE policy experiment between current versus post-CBDC world in China. • Macroeconomy displays a greater procyclicality to shocks in the post-CBDC world. • A potential LPR-setting policy improves stabilization in the post-CBDC world. • An optimal LPR policy function should target more on housing and capital markets. • An optimal LPR policy function should also target more on the growth in CBDC. [ABSTRACT FROM AUTHOR]

This article, titled "Retracted: How Does Fiscal Policy Affect Bank Credit? Evidence from China," has been retracted by the publisher Hindawi due to evidence of systematic manipulation of the publication process. The investigation uncovered discrepancies in scope, description of the research, and availability of data, as well as inappropriate citations and incoherent content. The retraction notice aims to alert readers that the article's content is unreliable, and it does not investigate whether the authors were aware or involved in the manipulation. Wiley and Hindawi express regret for not identifying these issues before publication and have implemented additional measures to safeguard research integrity. [Extracted from the article]

Copyright of Transformations in Business & Economics is the property of Vilnius University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The latest introduction of deposit insurance in China gives us a chance to explore the stock market reaction to the major regulatory policy change in banking. Our results show the average abnormal returns of all listed banks in China are significantly negative on the announcement day. It indicates the introduction of deposit insurance has an adverse wealth effect on the banking industry in China. We also find that among bank characteristics such as asset size, z-score, and ROE, only size has a statistically significant positive impact on the abnormal returns of the Chinese listed banks on the announcement day. The results mean the introduction of deposit insurance in China creates a redistribution of wealth from small banks to those with larger size. [ABSTRACT FROM AUTHOR]

Green banking frameworks encourage banks to manage their in-house operations and lend and invest in an environmentally sustainable manner. There are at present six nations in Asia that have a green banking framework - Bangladesh, Cambodia, China, Indonesia, Mongolia and Vietnam. Each of the six countries have distinctive green banking policies and frameworks suited to their own national agendas. This article aims to provide a summary of the main green banking frameworks issued by each country's respective regulatory authority or banking association and possible reasons why these six countries have established such a framework. It then focuses specifically on the framework and banking policies practiced in Bangladesh and China, given their experience and strong establishments. The effects of introducing green banking frameworks and policies in Bangladesh and China are also accessed. The article then concludes with recommendations on what more can be done to enhance green banking in Bangladesh and China. [ABSTRACT FROM AUTHOR]

Despite significant reforms of the banking system, the existing market in which Chinese banks operate is reminiscent of a cartel. On the basis of illustrations relying on ‘game theory’, the interactions between the credit allocations of state banks and private-controlled banks are highlighted. The very particular status of public banks creates serious barriers to the convergence of credit allocations towards more transparent and more cautious practices. This work intends to discuss a new model in which, in the existing system, ‘win–win–win’ solutions may still appear under some conditions. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to examine the emerging Chinese credit rating agencies (CRAs), and their development, regulatory regime and challenges. The Chinese financial system has made many improvements; in particular, the regulatory regime has reached a more effective level. However, it should be admitted that some aspects still require further development. Compared with other developed markets, the Chinese credit rating industry is still young. Under these circumstances, questions are raised about the performance of the CRAs in China. Whether the legal framework is effective enough? A further point, in terms of the development, is what are the major obstacles lying ahead for the Chinese CRAs? Design/methodology/approach -- This paper will concentrate on the study of Chinese CRAs. Starting with a brief introduction and analysis on the Chinese CRAs, it will further examine the rating methodologies of the Chinese CRAs. Following this, the regulatory regimes will be analyzed in detail, from the perspectives of the securities, banking and insurance market. Moreover, the paper will identify the key problems under the current regulatory regime. Last but not least, a conclusion and some future suggestions for the development of the regulatory regime will also be made based on the earlier observations and study. Findings -- The current development stage and future reform requirement of the Chinese credit rating industry. Originality/value -- Provide a full dimension and in depth analysis on the Chinese credit rating industry. [ABSTRACT FROM AUTHOR]

The article responds to an article written by Wendy Dobson and Anil Kashyap on gradualist banking reforms in China. Details about the problems in the Chinese banking system are provided and their part in the problems facing the Chinese financial system are explored. China's financial system is compared with Japan's financial system of the late 20th century. The need for China to learn from the economic troubles suffered by Japan is discussed. The efforts of Chinese banks to draw customers and deposits are also explored.

The appropriate design of the emission trading scheme (ETS) plays a crucial role in promoting companies to conduct low-carbon technological innovations. Based on a questionnaire survey, this paper examines how the design of the ETS and identified determinants have impacted corporate low-carbon technological investment decisions. The data was collected from 99 companies in the eight areas that are implementing the ETS in China. The results indicate that five attributes significantly influence the possibility of corporate investments in low-carbon technologies and thus need more attention in designing the national ETS, including allowance allocation for existing installations, compliance period, allowance allocation for new entrants, allowance banking and policy stability. From the viewpoint of the surveyed companies, the ETS that allocates allowances for existing installations based on the benchmark, has a long compliance period, allocates allowances for new entrants based on a uniform benchmark and allows companies to bank allowances could effectively encourage companies to conduct the low-carbon technological investment. The results of this study are important in light of ongoing discussions and developments of the national ETS in China. [Display omitted] • This paper examines the innovation influencing mechanism of ETS design features and other determinants. • Data were collected from 99 companies in the eight areas that are implementing ETS in China. • The policy attributes significantly associated with corporate low-carbon technology investment decisions are identified. • We also identify the determinants that are closely related with low-carbon technology investment decisions. • Policy implications for designing the national ETS are provided. [ABSTRACT FROM AUTHOR]

Hong Kong had twice adopted, in its modern monetary history, the currency board system: the first in November 1935, and the second in October 1983. This article provides an analysis of the modus operandi of Hong Kong's version of currency board, as well as an appraisal of its advantages and disadvantages. [ABSTRACT FROM AUTHOR]

Discusses the developments of China's bank regulations and the associated problems that need to be considered and resolved. Institutional change of China's banking system; From liberalization to a regulatory framework.