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Covid-19 pandemic as an accelerator of economic transition and financial innovation in China

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  • Shusong Ba
  • Haifeng Bai

Abstract

The Covid-19 pandemic has had a significant impact on the financial sector and real economy around the world. China’s economy has recovered rapidly from Covid-19. The main reasons are that China has an ample policy toolbox and paid more attention to the recovery supply-side. The Covid-19 pandemic has been an accelerator of China’s digital economy and has established a ‘dual circulation’ development pattern. Digital technology-supported inclusive finance and supply chain finance were the key to a rapid recovery. Financial innovation has ensured that the companies quickly resumed production. China still insists on the reform and opening up of its financial sector. In a word, the Covid-19 pandemic has been an accelerator of economic transition and financial innovation in China.

Suggested Citation

  • Shusong Ba & Haifeng Bai, 2020. "Covid-19 pandemic as an accelerator of economic transition and financial innovation in China," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 18(4), pages 341-348, October.
  • Handle: RePEc:taf:jocebs:v:18:y:2020:i:4:p:341-348
    DOI: 10.1080/14765284.2020.1855394
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    Cited by:

    1. Jiachao Peng & Hanfei Chen & Lei Jia & Shuke Fu & Jiali Tian, 2023. "Impact of Digital Industrialization on the Energy Industry Supply Chain: Evidence from the Natural Gas Industry in China," Energies, MDPI, vol. 16(4), pages 1-32, February.
    2. Peter Markoviè & František Pollák & Roman Vavrek & Yaroslava Kostiuk, 2022. "Impact of Coronavirus Pandemic on Changes in e-Consumer Behaviour: Empirical Analysis of Slovak e-Commerce Market," Journal of Economics / Ekonomicky casopis, Institute of Economic Research, Slovak Academy of Sciences, vol. 70(4), pages 368-389, April.
    3. Taiji Furusawa & Lili Yan Ing, . "G20’s Roles in Improving the Resilience of Supply Chains," Chapters,, Economic Research Institute for ASEAN and East Asia (ERIA).
    4. Jessica Birkholz & Jarina Kühn & Mariia Shkolnykova, 2022. "Exploration or Exploitation: Innovation Behavior of SMEs and Large Firms during the COVID-19 Crisis," Bremen Papers on Economics & Innovation 2203, University of Bremen, Faculty of Business Studies and Economics.

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