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

Shusong Ba and Haifeng Bai

Journal of Chinese Economic and Business Studies, 2020, vol. 18, issue 4, 341-348

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.

Date: 2020
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DOI: 10.1080/14765284.2020.1855394

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