Director
ZHANG Xiaojing is a Professor of Economics, Director of Institute of Finance & Banking, Chinese Academy of Social Sciences (CASS); Director of National Institution for Finance & Development (NIFD); Member of Chinese Economists 50 Forum; Member of China Finance 40 Forum.
Prof. Zhang is also the recipient of prestigious awards such as SUN Yefang Financial Innovation Prize for 2015, and SUN Yefang Economics Prize for 2005 and 2007. He actively participated in the research and consultant work on China’s 11th, 12th, 13th, and 14th Five-Year Plan. He is in charge of the Project of China’s Historical Balance Sheets(CHBS)which is the exclusively available data source for China's National assets and liabilities. This set of data holds significant influence in both policy and academic circles and is widely used internationally.
He was a Visiting Professor at Harvard and National Bureau of Economic Research (NBER) in 2006-2007; and a Visiting Fellow at Stockholm School of Economics, from 1999-2000. His research interests are macroeconomics, macrofinance, and development economics.
CHINA'S NATIONAL BALANCE SHEET SERIES
China's National Balance Sheet (1978-2022)CHINA'S NATIONAL BALANCE SHEET SERIES
China’s National Balance Sheet (2015): Leverage Adjustment and Risk ManagementCHINA'S NATIONAL BALANCE SHEET SERIES
China’s National Balance Sheet: Theories, Methods and Risk AssessmentCHINA'S NATIONAL BALANCE SHEET SERIES
Wealth Accumulation and Distribution in Traditional ChinaCHINA'S NATIONAL BALANCE SHEET SERIES
Macroeconomic Policy and Steady Growth in ChinaCHINA'S NATIONAL BALANCE SHEET SERIES
China's National Balance Sheet (2013): Theories, Methods and Risk AssessmentCHINA'S MACRO LEVERAGE RATIO REPORTS
【2025Q1】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2024Q4】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2024Q3】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2024Q2】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2024Q1】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2023Q4】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2023Q3】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2023Q2】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2023Q1】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2022Q4】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2022Q3】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2022Q2】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2022Q1】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2021Q4】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2021Q3】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2021Q2】CHINA'S MACRO LEVERAGE RATIOCHINA'S MACRO LEVERAGE RATIO REPORTS
【2021Q1】CHINA'S MACRO LEVERAGE RATIOPAPERS
China’s Macro-financial Network and Risk Analysis Based on National Balance SheetsPAPERS
Structural Reform for Economic GrowthPAPERS
A Centennial Exploration of the Communist Party of China’s Leading China towards Prosperity and StrengthPAPERS
The National Balance Sheet: China's "Stock-Based Catch-Up" in the 21st CenturyPAPERS
Macro Leverage and Cross-Cycle AdjustmentPAPERS
Financial Risk and Economic Growth under the New Paradigm of Macroeconomic Analysis: With a Discussion on the COVID-19 Shock and Growth-at-RiskPAPERS
Credit, Leverage, and Economic Growth: Lessons from 150 Years of ExperiencePAPERS
An Analysis of the Trend of China’s Macro Leverage Ratio under the Triple PressuresPAPERS
China’s Sovereign Balance Sheet and Its Risk Assessment (Part II)PAPERS
China’s Sovereign Balance Sheet and Its Risk Assessment (Part I)