Shadow Banking refers to capital that is distributed outside the formal banking system, including everything from 'mom and pop' lending shops to online credit to giant state owned banks called Trusts. They have grown from a fraction of the economy ten years ago to nearly half of all China’s annual RMB 25 trillion ($4.1 trillion) in lending in the economy today.
Shadow Banks are a new aspect of capitalism in China – barely regulated, highly risky, yet tolerated by Beijing. They have been permitted to flourish because many companies cannot get access to formal bank loans. It is the Wild West of banking in China. If we define capitalism as economic activity controlled by the private sector, then Shadow Banking is still in a hybrid stage, a halfway house between the state and the private economy. How Beijing handles this large free market will say a lot about how the country’s economy will grow – will free markets be granted greater leeway?
The European Chamber is delighted to welcome Andrew Collier, China Analyst, Author and former Chairman of the Bank of China, USA to share the key findings of his new book Shadow Banking and the Rise of Capitalism in China.
Agenda
09:00-09:05 Welcome Remarks by European Chamber representative
09:05-09:30 Shadow Banking and the Rise of Capitalism in China, Andrew Collier, Managing Director, Orient Capital Research
09:30-10:30 Q&A Session, moderated by Rachel Morajee, Director, The Economist Group
*Please note the views expressed in this event are those of our guest speaker and do not necessarily reflect the position of the European Union Chamber of Commerce in China.
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