Projets par an
Résumé
Chinese banks have been building an extensive network of branches and subsidiaries across the European Union, which they govern from their European headquarters in Luxembourg. This striking observation guides this paper’s research questions: Why do Chinese banks create such branch-cum-subsidiary structures across the EU, and why do they do it in Luxembourg? The paper dissects forensically these financial structures and mechanisms forged through the co-design of Luxembourg’s legal-business environment and Chinese banks’ internationalization strategies. We argue that Chinese banks facilitate Chinese FDI, and that this function determines the particular branch-cum-subsidiary structure of Chinese banks in the EU. It is a unique feature impossible to establish outside the EU. Chinese state-owned banks in Luxembourg are thus important, yet analytically widely neglected actors in the formation of global financial networks (GFNs). This research is particularly significant when considering the intensifying integration of the emerging Chinese market into global finance and, in particular, into the EU banking union. Empirical findings suggest that Chinese banks in Luxembourg use the specific branch-cum-subsidiary structures to (i) finance both their large Chinese and European corporate clients, which (ii) allows Chinese banks to circumvent specific regulatory and operational constraints in other EU member states, especially when (iii) serving Chinese corporations in their FDI to the EU. The internationalizing Chinese bank networks in the EU can thus be defined as FDI-oriented by legal and strategic design. This research highlights their constituent features and the resulting capabilities of GFNs that affect regional investment activities.
langue originale | Anglais |
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journal | Eurasian Geography and Economics |
Les DOIs | |
état | E-pub ahead of print - 2 mars 2023 |
Projets
- 1 Terminé
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China-Lux: China's Financial Networks in Luxembourg
Balmas, P., Dörry, S. & Howarth, D.
Fonds National de la Recherche
1/09/18 → 31/08/22
Projet: Recherche
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Future Finance
Dörry, S., 12 janv. 2024, Contemporary Economic Geographies: Inspiring, Critical and Plural Perspectives. Johns, J. & Hall, S. M. (eds.). 1 Ed. Bristol: Bristol University Press, p. 338-351Résultats de recherche: Le chapitre dans un livre, un rapport, une anthologie ou une collection › Chapter › Revue par des pairs
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The dark side of innovation in financial centres: legal designs and territorialities of law
Dörry, S., 4 sept. 2022, (E-pub ahead of print) Dans: Regional Studies. p. 1-12Résultats de recherche: Contribution à un journal › Article › Revue par des pairs
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The Geoeconomics of Chinese Bank Expansion into the European Union
Balmas, P. & Dörry, S., 14 oct. 2022, (E-pub ahead of print) The Political Economy of Geoeconomics: Europe in a Changing World. Babić, M., Dixon, A. D. & Liu, I. T. (eds.). Palgrave Macmillan, p. 161–185 24 p. (International Political Economy Series (IPES)).Résultats de recherche: Le chapitre dans un livre, un rapport, une anthologie ou une collection › Chapter › Revue par des pairs
Accès ouvertFile136 Téléchargements (Pure) -
Chinese state-owned bank expansion into Europe: Bank branches and subsidiaries
Balmas, P. & Dörry, S., févr. 2021, The Global Network on Financial Geography (FinGeo), (Financial Geography Working Paper Series; Numéro 29).Résultats de recherche: Papier de travail › Working paper
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The role of elites in the co-evolution of international financial markets and financial centres: The case of Luxembourg
Dörry, S., 1 févr. 2016, Dans: Competition and Change. 20, 1, p. 21-36Résultats de recherche: Contribution à un journal › Article › Revue par des pairs