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Regular version of the site

Article

Comparing the banking models in China and Russia: Revisited

Studies on Russian Economic Development. 2015. Vol. 26. No. 2. P. 178-187.
Vernikov A. V.

We look for typological similarity or dissimilarity between the banking systems of China and Russia. In both countries we have identified a multitier and hierarchically organized system of commercial banks headed by several institutions under direct control of the government. These core state-controlled banks combine commercial banking with development banking. The difference between the Chinese and the Russian system in terms of bank relevance and directed lending was highlighted by T. Speranskaya in 2009, but now the growing state “dirigisme” gradually erodes that difference. We also suggest that the lending by the core statecontrolled banks complements budgetary funds as a source of investment into fixed assets of nonfinancial enterprises in both countries.