The Digital Financial Revolution in China

China has been a global leader in transforming finance for the digital age, with advancements in mobile payments, online investment, Big Tech lending, digital insurance, open banking, and central bank digital currency. This book explores the impact of financial technology on job creation, income distribution, and consumer welfare in China, as well as larger systemic issues such as monetary policy, stability of the banking sector, and international trade and payments. It includes contributions from Chinese and international economists and will appeal to scholars, finance professionals, and policymakers worldwide.

Format: Paperback / softback
Length: 280 pages
Publication date: 10 May 2022
Publisher: Brookings Institution

China has been a global leader in transforming finance for the digital age, with a focus on promoting financial inclusion and adopting technologies that are changing the financial system and the lives of millions of people. This book, the product of a joint research project between economists at the National School of Development, the affiliated Institute of Digital Finance at Peking University, and the Brookings Institution, 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.

Weight: 518g
Dimension: 153 x 229 x 22 (mm)
ISBN-13: 9780815739555