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State Versus Market: China’s Infrastructure Investment

Shuoge Qian, Hong Ru, Wei Xiong, Mar 13, 2024

In 2005, the Chinese government launched the landmark “36 Clauses” reform, marking a critical step toward forging a more favorable market environment.

Anatomy of the CNH-CNY Peg: The Crucial Role of Liquidity Policies

Saleem Bahaj, Ricardo Reis, Jun 26, 2024

This article discussing the changes in the exchange rate between the offshore yuan (CNH) and onshore yuan (CNY) help stabilize the CNY-US dollar exchange rate, but they also pose challenges to China's capital controls.

Returnees and Innovation: Evidence from Chinese Publicly Listed Firms

Yibo Qiao, Andrea Ascani, Stefano Breschi, Andrea Morrison, Jan 05, 2024

We investigate the relationship between high-skill returnees and innovation of Chinese publicly listed firms.

Housing Wealth and Online Consumer Behavior: Evidence from the Xiong’an New Area in China

Hanming Fang, Long Wang, Yang Yang, Nov 16, 2022

We provide new evidence on the causal effects of housing wealth on consumer behavior.

Discounting Chinese Industrial Policy

Andrew J.Sinclair, Chuyi Zhang, Jan 31, 2024

The Chinese government supports the development of dozens of industries today, but the long-run sustainability of this model depends crucially on policy efficiency.