China is the second largest economy in the world and is expected to become the largest in the near future. In contrast to its economy, the financial system has yet to be further developed. China is facing many complex issues and challenges in its financial sector, which has crucial implications for both China and the world.
The Center for China Financial Research (CCFR) at the University of Colorado Denver Business School is inter-disciplinary and encompasses finance, economics, statistics, mathematics, and related fields. The center has an open-architecture structure with active members within and outside University of Colorado Denver. CCFR facilitates research on securities markets, banking, financial regulations and closely related broader issues of economic reform in China. CCFR provides a visible platform outside greater China and connects academic researchers around the world with the expertise, the Chinese government, international organizations and the business community.
Founding director: Jian Yang, J.P. Morgan Endowed Chair, Professor and Discipline Director of Finance, Business School, University of Colorado Denver.
Contact: Jian Yang, firstname.lastname@example.org
Center for China Finance Research Activities
Center for China Finance Research Media Exposure
- China expands foreign ownership in financial sector, China Daily USA, November 15, 2017
- China's Frenzied Commodities Boom Is Over, For Now. October 10, 2017, Forbes.
- RMB Internationalization: Are We There Yet? May 11, 2017, Forbes.
- Impact of capital outflow rules debated, China Daily USA, December 2, 2016
- China passes US in outbound M&A, China Daily, October 10, 2016 (also #1 top story on China Daily USA, October 7, 2016)
- Economy stabilizes in first quarter, China Daily USA, April 14, 2016 (#1 top story)
- China factories face competition, China Daily USA, April 7, 2016 (#2 top story)
- Anbang seeks Starwood to stabilize returns: Analysts, China Daily USA, March 29, 2016 (#2 top story)
- New securities chief faces challenge in restoring confidence, China Daily, February 22, 2016 (#1 top story)
- China playing major role in oil selloff, China Daily, January 19, 2016
- Meltdown 2.0 led by China selloff, again, China Daily USA, January 8, 2016 (#2 top story) (An extension of Prof. Yang’s arguments was published in Chinese in Chinese Business Review, or Yicai)
- What the future holds: China’s 2016 economy, China Daily USA, January 1, 2016 (Prof. Yang’s prediction about 2016 GDP growth rate in China turned out to be among the most accurate)
Center for China Finance Research Research Publications
- Yang, Jian, Ziliang Yu, and Yongheng Deng. “Housing Price Spillovers in China: A High-Dimensional Generalized VAR Approach,” Regional Science and Urban Economics, forthcoming, January 2018.
(the first study to explore housing price indexes and document high interactions among 70 cities in China. Media commentary in Chinese based on the paper)
- Yu, Zhuangxiong, Jie Li, Jian Yang. “Does corporate governance matter in competitive industries? Evidence from China,” Pacific Basin Finance Journal, Vol. 43, June 2017, pp. 238-255.
(Introduced a new comprehensive corporate governance index of Chinese public firms; competition does not substitute for corporate governance in China!)
- Tong, Jiadong, Zijun Wang, and Jian Yang. “Information Flow between Forward and Spot Markets: Evidence from the Chinese Currency,” Journal of Futures Markets, Vol. 36, No. 7, July 2016, pp.695–718.
(offshore NDF FX market in Hong Kong can predict the huge onshore spot RMB rate during 2005-2013)
- Hao, Xiangchao, Jing Shi, and Jian Yang. “The Differential Impact of the Banking-Firm Relationship on IPO Underpricing: Evidence from China,” Pacific-Basin Finance Journal, Vol. 30, November 2014, pp. 207-232.
- (Big Four state-owned banks improved their performance dramatically in the last decade, although they were still not as good as ideally they should be. Media commentary in Chinese based on the paper.)
- Yang, Jian, Zihui Yang, and Yinggang Zhou. “Intraday Price Discovery and Volatility Transmission in Stock Index and Stock Index Futures Markets: Evidence from China,” Journal of Futures Markets, Vol. 32, No. 2, February 2012, pp.99-121.
(perhaps the first empirical study in English on functioning of the new stock index futures in China)