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ID: 154451

China's internet finance: a critical review / Xu, Jianguo

Xu, Jianguo	Journal Article
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China's Internet finance industry developed explosively from 2012 to 2015. Undersupply of financial services, progress of information technology and accommodative regulations for Internet finance jointly explain the explosive development. Regulation tightened after the small-scale P2P lending crisis in 2015. The present paper discusses the role of information technology and mega data analysis in financial services, with particular attention paid to some popular misconceptions. The paper predicts that large financial institutions and information technology companies will play a dominant role in the future development of Internet finance.

Key Words

Information Technology ; Financial regulation ; Financial Repression ; Mega Data Analysis

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ID: 136236

China's sovereign debt: a balance-sheet perspective / Xu, Jianguo; Zhang, Xun

Xu, Jianguo	Article
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We analyze China's sovereign debt by constructing balance sheets for China's government and public sector. We find that China's government debt-to-GDP ratio is lower than that of most large developed economies. We also find the debt-to-asset ratio of China's government and public sector significantly lower than its own historical height (1998–2002). Local government debt is mainly to finance infrastructure investments. Local government debt risk is amplified by two mismatches. The first is the income-expenditure mismatch between central and local governments. The second is the maturity mismatch of short-term debt and long-term infrastructure investments. The maturity mismatch may cause short-term repayment difficulties

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