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Center for China Financial Research

China is the second largest economy in the world and is expected to become the largest in the near future. In contrast to its economy, the financial system has yet to be further developed. China is facing many complex issues and challenges in its financial sector, which has crucial implications to both China and the world.

The Center for China Financial Research (CCFR) at University of Colorado Denver Business School is inter-disciplinary; encompassing finance, economics, statistics, mathematics and related fields. The center has an open-architecture structure with active members within and outside University of Colorado Denver. CCFR facilitates research on securities markets, banking, financial regulations and closely related broader issues of economic reform in China. CCFR provides a visible platform outside greater China and connects academic researchers around the world with the expertise, the Chinese government, international organizations and the business community.

Program Director

Jian Yang Founding director: Jian Yang, Professor of Finance and Director of Finance and Risk Management program, Business School, University of Colorado De​nver.

Contact: Jian Yang,

Center for China Finance Research Activities

Center for China Finance Research Media Exposure

Center for China Finance Research Research Publications

  • Tong, Jiadong, Zijun Wang, and Jian Yang. “Information Flow between Forward and Spot Markets: Evidence from the Chinese Currency,” Journal of Futures Markets, Vol. 36, No. 7, July 2016, pp.695–718.
  • Hao, Xiangchao, Jing Shi, and Jian Yang. “The Differential Impact of the Banking-Firm Relationship on IPO Underpricing: Evidence from China,” Pacific-Basin Finance Journal, Vol. 30, November 2014, pp. 207-232.
  • Yang, Jian, Zihui Yang, and Yinggang Zhou. “Intraday Price Discovery and Volatility Transmission in Stock Index and Stock Index Futures Markets: Evidence from China,” Journal of Futures Markets, Vol. 32, No. 2, February 2012, pp.99-121.


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