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School of Economics and Finance

Regulating the Chinese Financial System

Credits: 15

Module Convenor: Daniel Trinder and Eamonn White

Understanding any countries’ regulatory framework is paramount to understanding its financial system. Nowhere is this more apparent than China. China's financial markets and institutions operate in ways that differ significantly from those in other major economies such as the US and Euro-area. Despite the importance of the Chinese economy, these unique features of its financial industry are not well understood - thus module aims to help fill that gap in standard finance courses by providing an overview of China's financial system and its regulatory framework and setting this in a Global context.

The goal is to understand the development of the Chinese financial system, the challenges, opportunities and risks facing it now and over the long-term, and possible implications for the global financial system. The course will provide an overview of how financial markets and institutions operate in China and their interactions with global financial markets, how capital, risk, and liquidity are intermediated within China and cross-border. It will also explore current trends (including liberalisation of markets and financial stability).


Profile – Daniel Trinder

Daniel is an Honorary Professor in Economics and Finance at the School of Economics and Finance, Queen Mary University of London. He is a part-time consultant for the International Monetary Fund and a senior policy advisor to a number of large investment banks and US technology firms on policy issues relating to banking, securities and operational resilience.

Previously Daniel spent a decade as Managing Director at Deutsche Bank, Standard Chartered and then Barclays responsible for assessing the impact of post-crisis regulatory reforms and interactions with their most important regulators. Between 2016-2010 Daniel was an Executive Director at Goldman Sachs working on a number of projects where regulatory approval was crucial, such as the establishment of the International Finance Facility for Immunisation (IFFlm) with the World Bank & Gates Foundation and establishing Europe’s first pan-European Stock Exchange for equities.

Daniel was a Deputy Director at HM Treasury (HMT) responsible for European and International Financial Services during the UK’s Presidency of the EU and G7/8 in 2005. This included responsibility for the development and execution of the UK’s strategy towards the EU on financial services, the negotiation of EU financial services legislation, financial services trade arrangements under the WTO and strategic dialogues outside the EU, such as with India and China. Prior to this, Daniel had responsibility for Prudential Policy at HM Treasury. Before working on financial services, Daniel worked on the economic framework underpinning the UK's supply-side reform agenda and the economic assessment of the UK’s decision not to join the Euro at HMT and undertook a secondment to the Export Credit Guarantee Department (ECGD) where he was responsible for African and Middle Eastern country risk assessments and forecasts.

Daniel received his BA in Economics from Newcastle and an MA in Economics from York University, Toronto, Canada. Daniel was a Teaching Fellow at Queen Mary University of London whilst studying for his PhD in Economics.


Profile - Eamonn White

Eamonn is a Visiting Lecturer at Queen Mary University of London in the School of Economics and Finance specialising in financial stability policy and the Chinese financial system.

Eamonn is also a Director of Ardhill Advisory, an independent consulting firm specialising in financial regulation and financial stability including on bank resolution, bank resolution planning, liquidity and crisis management frameworks. He advises central banks, national authorities, the International Monetary Fund and financial institutions.

Between 2016 and 2019, as Head of the Hong Kong Monetary Authority Resolution Office, Eamonn led the establishment of Hong Kong’s bank resolution authority designing the domestic policy framework and restructuring banks in Hong Kong to remove barriers to orderly resolution. He has also been a member of the Financial Stability Board Cross-Border Crisis Management (CBCM) groups for banks and worked with the East Asia-Pacific Central Banks (EMEAP) on bank resolution. Between 2012 and 2016, Eamonn has been a member of the Bank of England Resolution Directorate, leading resolution planning for U.K. systemically important banks and contributed to U.K. and international resolution policy development. Between 2006 and 2012, Eamonn was a senior policy advisor to the Chancellor of the Exchequer at HM Treasury (HMT) on UK financial stability, 2008 crisis interventions including the nationalisation of UK banks and post-crisis reforms including retail ring-fencing of UK banks. In his early career, Eamonn was a diplomat in Washington DC covering EU foreign and trade policy.

Eamonn has a Bachelor’s degree from University College Cork, and a Master’s in Philosophy from University College Cork.

Assessment: 80% Examination, 20% Coursework

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