Proceedings of the 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023)

Mechanisms of the Impact of COVID-19 on Financial Risk and Governance Responses in China Based on Big Data

Authors
Qi Li1, *
1Xi’an Jiaotong University City College, Shannxi, China
*Corresponding author. Email: Vickymegon@163.com
Corresponding Author
Qi Li
Available Online 10 August 2023.
DOI
10.2991/978-94-6463-198-2_46How to use a DOI?
Keywords
COVID-19 outbreak; financial risk; governance response; financial markets
Abstract

COVID-19 has a serious impact on China’s economy and China’s financial system. In order to clarify the impact of COVID-19 on China’s financial risk, this paper first analyzes the impact mechanism of COVID-19 on China’s financial system, and then combines statistical analysis of key indicator data to provide an in-depth analysis of it, financial institutions and financial markets from three aspects, including money flow, lending credit and investment sentiment. It is found that: the liquidity of the financial system will be tight in the short term due to the impact of COVID-19, the cost of foreign aid of commercial banks and the further deterioration of credit quality make bank profits drop significantly, bank fundamentals will suffer a short-lived shock, and market expectations and investor sentiment will also tend to be conservative due to COVID-19. On this basis, this paper puts forward relevant recommendations on the prevention of financial risks during COVID-19, namely, increasing fiscal support, implementing proactive fiscal policy and appropriately flexible monetary policy; strengthening policy synergy, mastering the direction and strength of macro policy regulation; doing a good job of COVID-19 prevention and control, reshaping confidence and expectations in economic and financial development; strengthening international financial cooperation, and building a community of human destiny, with a view to helping “hold the bottom line of no systemic risk”.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

Volume Title
Proceedings of the 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023)
Series
Atlantis Highlights in Computer Sciences
Publication Date
10 August 2023
ISBN
10.2991/978-94-6463-198-2_46
ISSN
2589-4900
DOI
10.2991/978-94-6463-198-2_46How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

TY  - CONF
AU  - Qi Li
PY  - 2023
DA  - 2023/08/10
TI  - Mechanisms of the Impact of COVID-19 on Financial Risk and Governance Responses in China Based on Big Data
BT  - Proceedings of the 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023)
PB  - Atlantis Press
SP  - 449
EP  - 457
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-198-2_46
DO  - 10.2991/978-94-6463-198-2_46
ID  - Li2023
ER  -