Financial Infrastructures with Chinese Characteristics

This talk explores the rise of China’s capital markets and their growing integration with global finance through an infrastructural perspective. Rather than conforming to liberal, Anglo-American norms of organising finance, Chinese exchanges—acting as infrastructure providers that organise markets—have developed and internationalised capital markets primarily shaped by state-capitalist institutional logics. As a result, China is constructing a parallel system of capital markets—one that coexists with, but also challenges, the existing financial order. The talk examines how this expansion of Chinese financial infrastructures at home and abroad is increasing China’s footprint in global financial markets.