Financing Small and Medium Enterprises in China: Recent Trends and Prospects beyond Shadow Banking
Small and medium enterprises (SMEs) represent the backbone of China’s economy, yet they lack access to bank credit. SMEs thus rely on a wide range of alternative sources, including informal finance, online peer-to-peer (P2P) platforms, registered non-banking financial institutions (NBFIs), and underground ...
https://iems.ust.hk/publications/iems-working-papers/kellee-tsai-small-medium-enterprises-china-shadow-banking