The Political Economy of Internet Finance in the People’s Republic of China (090350-SoSe21)

The People’s Republic of China is turning into a leading global power in technology and innovation. This includes the areas of internet based services (e-commerce) and financial services (fintech; internet finance). The dynamic of these developments has caught wide-spread attention. China’s Socialist Market Economy has created global internet giants such as Alibaba with its Ant Group, Tencent (Tengxun), or JD Digits. Their relationship with key stakeholders in China’s political economy, however, remains difficult. While the Chinese leadership generously supports the rise of patriotic global players, the party-state is quite anxious about challenges to the stability of its financial system and the growing influence of these newcomers in the Chinese economy and society.
Following theoretical perspectives of Comparative Political Economy (CPE), this seminar seeks to analyse the innovation policies in the PRC, the specific institutional settings for financial services within the framework of the Socialist Market Economy, the conflicting objectives and interests of the party-state with regard to internet based innovation, and the significance of China’s domestic modernisation in a global context.

First day of class: 16/04/2021.