1. Understanding China's Digital Financial Innovation and Regulation / David Dollar and Yiping Huang -- 2. Quantifying Digital Financial Inclusion in China / Feng Guo and Jingyi Wang -- 3. China's Payment Reform and Its Implications for Other Countries / Aaron Klein -- 4. Digital Financial Infrastructure in China / Xun Wang -- 5. The Rise and Fall of the Peer-to-Peer Lending Industry / Yan Shen -- 6. Digital Lending in China: A Tale of Three Models / Yiping Huang -- 7. Robo-advisors and the Digitization of Wealth Management in China / Zhuo Huang -- 8. The Digitization of Commercial Banks / Xuanli Xie -- 9. The Digital Divide and the Trickle-Down Effect / Xun Zhang -- 10. China's Central Bank Digital Currency: Facts and Future Directions / Yuan Xu -- 11. The Implications of Digital Technology for Financial Regulation / Qiang Gong and Yan Shen -- 12. The Implications of New Financial Technologies for the International Monetary System / Eswar Prasad -- 13. International Cooperation in and Regulation of Fintech Development / David Dollar.
Summary:
"Describing how China is in the lead in transforming finance for the digital age China has been at the forefront of one of the most important revolutions in contemporary business practices: the rapid growth of digital finance. From mobile payments to online investment, from Big Tech lending to digital insurance, and from open banking to central bank digital currency, China has been among the most advanced--sometimes the most advanced--of the major economies in adopting technologies that are changing both the financial system and the lives of millions of people. China has been especially far-sighted in promoting financial inclusion--offering financial services for the first time to people regardless of their location, job status, or income. This book is the product of a joint research project between economists at the National School of Development, especially the affiliated Institute of Digital Finance, at Peking University and at the Brookings Institution. It investigates the impact of financial technology on job creation, income distribution, and consumer welfare in China. It also examines larger systemic issues such as monetary policy, stability of the banking sector, and international trade and payments. With a primary focus on the development of digital finance in China, most of the contributions are from Chinese economists. But the volume also considers implications for the rest of the world in several chapters written by international economists from Brookings. The depth and breadth of the descriptions and analysis in this ground-breaking book will appeal to scholars of China, finance professionals, and policymakers around the globe."-- Provided by publisher
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.