Chinese capital markets: Challenges to the China Model

Eight years ago, The European Journal of Finance (EJF) published the first special issue on the Chinese Capital Markets. This was at a time when Chinese topics were not widely accepted by internationally excellent finance journals. Since then, The European Journal of Finance had published four special issues both containing and encouraging studies that reveal the unique institutions of China. This editorial summarises the articles included in this 5th CCM special issue and discusses a series of legislative and regulatory changes, which has strengthened the role of the Chinese Communist Party in the economy and society under the “Party leads everything” doctrine. We encourage future studies to examine their implications on finance and economics and believe that the results of such studies will be helpful for the CPC and the Chinese Government to shape future policies to ensure sustainable development.