European Central Bank - eurosystem
European Central Bank - eurosystem
Search
Search Options
Home Media Explainers Research & Publications Statistics Monetary Policy The €uro Payments & Markets Careers
Suggestions
Sort by

Patrick Hess

Specialised Institutions & LSIs

Division

Universal & Diversified Inst. 3

Current Position

Principal Supervisor

Fields of interest

International Economics,Financial Economics,Public Economics

Email

patrick.hess@ecb.europa.eu

Other current responsibilities
2017-

Lecturer on China's financial system, Master in Modern East Asian Studies, Goethe University Frankfurt, Germany

Education
1990-1996

MA in Sinology and Economics, Heidelberg University, Germany

1992-1993

Vrije Universiteit Amsterdam, The Netherlands

1989-1990

Beijing Foreign Studies University 北京外国语大学, People's Republic of China

Professional experience
2020-

Principal Supervisor – Division Specialised Institutions & LSIs 3, Directorate General Specialised Institutions & LSIs, European Central Bank

2014-2020

Principal Oversight Expert – Division Oversight, Directorate General Market Infrastructure & Payments, ECB

2013-2014

Senior China Economist – Division External Developments, Directorate General International & European Relations, ECB

2003-2013

Senior Market Infrastructure Expert – Division TARGET, Directorate General Payments & Market Infrastructure, ECB

1996-2003

Product Manager, Global Cash Management, Deutsche Bank

Teaching experience
2009-2011

Lecturer on Chinese economic policy, Institute of Chinese Studies, Heidelberg University, Germany

1999-2011

Chinese language teacher, Volkshochschule Darmstadt, Germany

8 July 2010
OCCASIONAL PAPER SERIES - No. 116
Securities clearing and settlement in China: markets, infrastructures and policy-making
English
Details
Abstract
China is taking a more active role on the world stage, even more so since its rapid and strong recovery from the global recession. In the financial realm this expansion is underpinned by a strategy to build strong and competitive capital markets at home. In order to achieve this goal, well-functioning and sound securities infrastructures are an important pre-requisite, and therefore they receive a lot of attention from Chinese policy-makers, as well as from market participants both in China and abroad. This paper evaluates the current market infrastructure, including the legal and regulatory framework, for securities trading, clearing and settlement in mainland China, and analyses the policy-making in this field. The paper finds that, following huge progress in recent years, the post-trading processes are increasingly safe and efficient. It concludes that, given the effectiveness of the policy process, Chinese clearing and settlement are likely to develop into the
JEL Code
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
G15 : Financial Economics→General Financial Markets→International Financial Markets
G18 : Financial Economics→General Financial Markets→Government Policy and Regulation
G21 : Financial Economics→Financial Institutions and Services→Banks, Depository Institutions, Micro Finance Institutions, Mortgages
G28 : Financial Economics→Financial Institutions and Services→Government Policy and Regulation
P34 : Economic Systems→Socialist Institutions and Their Transitions→Financial Economics
2023
社会科学报 (Social sciences Weekly)
专访法兰克福大学学者: 绿色金融助力中欧合作 (Interview with a scholar of Frankfurt University: Green finance helps the cooperation between China and Europe)
  • Hess, P. and Xu, M.
2022
Green Finance
The supervision and regulation of climate risks for banks: Overview from the perspective of a European practitioner
  • Hess, P.
2020
Monetary Policy Execution in East Asia
China's monetary policy: Institutional setting, tools and challenges
  • Hess P.
2019
The Diplomat
Quo vadis Hong Kong? Demanding system change — on either side — is not a realistic way out of the crisis, understanding the underlying traumas is.
  • Hess P.
2018
Financial Stability Board — Workstream on trade reporting legal barriers
Trade reporting legal barriers: Follow-up of 2015 peer review recommendations
  • Fine K., Guillaumot C., Hess P. et al.
2018
The Diplomat
What China's Recent Shake up Means for the Economy: How to read the recent economic and financial changes in China.
  • Hess P.
2017
Cash in East Asia
The ongoing evolution of payment instruments in China: A case study in financial innovation and the role of the central bank
  • Hess P.
2016
Internationale Politik
Zwischen Markt und Kontrolle: Das langsamere Wachstum verlangt echte Reformen von Chinas Machthabern
  • Hess P.
2016
ECB Economic Bulletin
Looking back at OTC derivatives reforms — objectives, progress and gaps
  • Hess P. (main author and editor) et al.
2015
Central Banking and Financial Stability in East Asia
Demand and supply of shadow banking in China
  • Hess P. and Zhang X.
2015
The Diplomat
How Likely Is a Financial Crisis in China? A look at the financial risk factors in China and how successful the government has been in addressing them.
  • Hess P.
2014
Currency cooperation in East Asia
China’s Financial System: Past Reforms, Future Ambitions and Current State
  • Hess P.
2014
Länderbericht China
Reformen, Status und Perspektiven des chinesischen Finanzsystems
  • Hess P.