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Table of Content 期刊目录
1. From Fintech to Finlife: the case of Fintech Development in China
Long Chen
Pages: 225-239
2. The fundamentals of internet finance and its policy implications in China
Ping Xie, Chuanwei Zou & Haier Liu
Pages: 240-252
3. General patterns and regional disparity of internet finance development in China: Evidence from the Peking University Internet Finance Development Index
Feng Guo, Sherry Tao Kong & Jingyi Wang
Pages: 253-271
4. Evaluating the regulatory scheme for internet finance in China: the case of peer-to-peer lending
Jingyi Wang, Yan Shen & Yiping Huang
Pages: 272-287
5. China’s personal credit reporting system in the internet finance era: challenges and opportunities
Zhuo Huang, Yang Lei & Shihan Shen
Pages: 288-303
6. Measurement of the new economy in China: big data approach
Yan Shen, Minggao Shen & Qin Chen
Pages: 304-316
Article Abstract 文章摘要
1. From Fintech to Finlife: the case of Fintech Development in China
Long Chen
Pages: 225-239
Abstract: The purpose of technology is not to make finance better, but to make finance serve real life better. Fintech has grown much faster in China than in the United States. In China, this success has come not from an initial technology advantage, but from integration between finance and real-life needs. This experience has important implications for understanding financial innovations, and for the development of inclusive finance.
Link to the original text:
http://www.tandfonline.com/doi/full/10.1080/17538963.2016.1160535
2. The fundamentals of internet finance and its policy implications in China
Ping Xie, Chuanwei Zou & Haier Liu
Pages: 240-252
Abstract: Internet finance is a spectral concept. It covers all forms of financial transactions and organizations, which range from traditional financial intermediaries and markets, such as commercial banks, securities firms, insurance companies, and stock exchanges, to the scenario under Walrasian equilibrium (where neither financial intermediaries nor markets exist) caused by the impacts of internet technologies. This article discusses the theoretical pillars, core features, and policy implications of internet finance.
Link to the original text:
http://www.tandfonline.com/doi/full/10.1080/17538963.2016.1210366
3. General patterns and regional disparity of internet finance development in China: Evidence from the Peking University Internet Finance Development Index
Feng Guo, Sherry Tao Kong & Jingyi Wang
Pages: 253-271
Abstract: Internet finance has experienced rapid growth in recent years in China, and it is expected to play an increasingly important role in the economy. This paper is one of the first attempts to examine the current state of development of Internet finance in China. The paper first introduces the methodology of the Peking University Internet Finance Index, which provides a monthly evaluation and analysis of the general trends and patterns of the Chinese Internet finance industry. The findings show that although the growth of the industry as a whole has been robust, the levels of development and rates of growth exhibit substantial variation across business categories. The paper then investigates the underlying determinants of the regional disparity in the development of Internet finance. The preliminary results suggest that the traditional financial sector, infrastructure, and local economic development are important for Internet finance development. The study suggests that the growth of Internet finance fundamentally relies on the development of the real economy and is associated with that of the traditional financial sector.
Link to the original text:
http://www.tandfonline.com/doi/full/10.1080/17538963.2016.1211383
4. Evaluating the regulatory scheme for internet finance in China: the case of peer-to-peer lending
Jingyi Wang, Yan Shen & Yiping Huang
Pages: 272-287
Abstract: This article assesses the potential risks associated with Internet finance in China, and discusses the implications for the regulatory framework, through a case study of peer-to-peer lending platforms. The analysis uses publicly available platform-level data up to December 2015 to identify the risk factors associated with different platforms. The analysis employs the Kaplan-Meier method to estimate survival probability, and uses duration analysis to identify how each risk factor contributes to the survival probability and life expectancy of each platform. The findings show that platforms with recent establishment dates, missing key information, a narrow range of interest rates, extreme interest rates, undiversified projects, and guarantees for principal and interest tend to have lower survival probability and shorter life expectancy. Based on these findings, the article assesses the appropriateness of the regulatory framework the authorities have recently proposed: whether the platforms should be treated as an information intermediary instead of a credit intermediary, whether the main regulation responsibilities should be assigned to local governments or industry associations, and whether new entrants should be required to have a minimum of registered capital. The article also makes some recommendations on information disclosure and risk management requirements for the peer-to-peer lending industry.
Link to the original text:
http://www.tandfonline.com/doi/full/10.1080/17538963.2016.1214381
5. China’s personal credit reporting system in the internet finance era: challenges and opportunities
Zhuo Huang, Yang Lei & Shihan Shen
Pages: 288-303
Abstract: The credit reporting system plays an important role in a credit economy, alleviating information asymmetry and reducing transaction costs. This article reviews the historical developments and describes the current structure of China’s government-oriented personal credit reporting system. The article summarizes the rapid development of Internet finance since 2013, and analyzes the challenges and opportunities for the next generation of China’s personal credit reporting system.
Link to the original text:
http://www.tandfonline.com/doi/full/10.1080/17538963.2016.1209868
6. Measurement of the new economy in China: big data approach
Yan Shen, Minggao Shen & Qin Chen
Pages: 304-316
Abstract: China has entered a “new normal” stage, where the returns to capital are continuing to decrease and low-skilled labor intensive industries are growing at a much slower speed. Whether the country can enjoy sustainable growth critically depends on the growth of the new economy sector. However, there is little information about the structure and growth trend of this sector. This article constructs for the first time the New Economy Index to provide a framework for measuring the new economy sector in China. The article defines the scope of the sector and uses a big data approach to identify the new economy sector and enterprises belonging to it. The New Economy Index is used to describe the growth pattern of the new economy sector. The findings show that the sector accounts for about 30 percent of the whole economy, and the New Economy Index is negatively correlated to several traditional economic indices, such as the Purchasing Manager Index of the manufacturing industry.
Link to the original text:
http://www.tandfonline.com/doi/full/10.1080/17538963.2016.1211384
