The collaborative research project aims to develop and deepen our understanding of the Chinese financial system and its crucial role in supporting the future development and continued growth of the Chinese economy. We study how can the financial system be developed in a way that ensures access to finance for the poor and how can the potential of new technology and new business models in financial services (‘Fintech’) be best harnessed in the interests of innovation and growth.

Speaking on behalf of the NSFC, Yang Liexun, Director of Department of Management Sciences, said: “Through deepening development of UK-China bilateral research into financial risk management, both sides have come together to improve academic understanding and communication, from promoting financial development and economic growth to developing perspectives on financial management, institution building, internet finance management and risk monitoring and controls.”

Speaking on behalf of the ESRC, Dr. Paul Sanderson, Deputy Team Head for the Economic Performance and Environment team, said: “The development of China’s financial system will be of vital importance in facilitating continued growth of the wider economy as it enters a more mature phase. We are delighted to have had the opportunity to work with the NSFC in bringing together academic expertise in the UK and China to improve common understanding of this important area.”