Investor Presentaiton

Concluding Remarks Shadow banking in both US and China was motivated by regulations on interest rates and developed rapidly. However, the systems have evolved into different paths because of different existing financial infrastructure and legal system. Chinese shadow banking is bank centric and invests mainly in information sensitive products, while US shadow banking is market system and mainly invests in information insensitive products. Chinese shadow banking is partly driven by misperceptions, which could add tail risks to Chinese financial system

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