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Article: Shadow Banking System in China after the Global Financial Crisis: Why Shadow Banks Can Distort the Capital Market Order

TitleShadow Banking System in China after the Global Financial Crisis: Why Shadow Banks Can Distort the Capital Market Order
Authors
KeywordsShadow banking
China
Capital market
Global financial crisis
Issue Date2015
PublisherHart Publishing Ltd. The Journal's web site is located at http://www.hartjournals.co.uk/pulj/
Citation
Peking University Law Journal = 中外法學, 2015, v. 2 How to Cite?
AbstractThis article first examines the composition of the shadow banking system in China and then critically analyses its interconnectivity with the traditional banking system and global capital markets. It argues that whilst shadow bank lending in China contributes to the country’s economic growth, the normal functionality of capital markets could be impaired if shadow banks continue to operate on a high-risk/high-yield business model which could potentially pose a systemic risk. It also addresses the concerns arising from high-leverage shadow bank lending practice and cautions against shadow banks operating in a black hole area that enables them to escape from regulatory purview. The article suggests that future regulatory (law) reform should guide shadow banks towards consumer protection by establishing an effective internal control system, enabling sufficient risk controls and requiring material information disclosure; towards safeguarding capital markets; and towards reducing their high levels of leverage.
Persistent Identifierhttp://hdl.handle.net/10722/213764
ISSN
SSRN

 

DC FieldValueLanguage
dc.contributor.authorLee, EH-
dc.date.accessioned2015-08-17T06:38:08Z-
dc.date.available2015-08-17T06:38:08Z-
dc.date.issued2015-
dc.identifier.citationPeking University Law Journal = 中外法學, 2015, v. 2-
dc.identifier.issn1002-4875-
dc.identifier.urihttp://hdl.handle.net/10722/213764-
dc.description.abstractThis article first examines the composition of the shadow banking system in China and then critically analyses its interconnectivity with the traditional banking system and global capital markets. It argues that whilst shadow bank lending in China contributes to the country’s economic growth, the normal functionality of capital markets could be impaired if shadow banks continue to operate on a high-risk/high-yield business model which could potentially pose a systemic risk. It also addresses the concerns arising from high-leverage shadow bank lending practice and cautions against shadow banks operating in a black hole area that enables them to escape from regulatory purview. The article suggests that future regulatory (law) reform should guide shadow banks towards consumer protection by establishing an effective internal control system, enabling sufficient risk controls and requiring material information disclosure; towards safeguarding capital markets; and towards reducing their high levels of leverage.-
dc.languageeng-
dc.publisherHart Publishing Ltd. The Journal's web site is located at http://www.hartjournals.co.uk/pulj/-
dc.relation.ispartofPeking University Law Journal = 中外法學-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectShadow banking-
dc.subjectChina-
dc.subjectCapital market-
dc.subjectGlobal financial crisis-
dc.titleShadow Banking System in China after the Global Financial Crisis: Why Shadow Banks Can Distort the Capital Market Order-
dc.typeArticle-
dc.identifier.emailLee, EH: eleelaw@hkucc.hku.hk-
dc.identifier.authorityLee, EH=rp01257-
dc.description.naturepostprint-
dc.identifier.hkuros248221-
dc.identifier.volume2-
dc.publisher.placeChina (中國)-
dc.identifier.ssrn2631343-
dc.identifier.hkulrp2015/024-

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