{"id":12132,"date":"2012-11-24T20:52:18","date_gmt":"2012-11-24T20:52:18","guid":{"rendered":"https:\/\/www.sisinternational.com\/understanding-chinas-shadow-banking-system\/"},"modified":"2025-09-16T21:51:25","modified_gmt":"2025-09-17T01:51:25","slug":"%ec%a4%91%ea%b5%ad%ec%9d%98-%ea%b7%b8%eb%a6%bc%ec%9e%90-%ea%b8%88%ec%9c%b5-%ec%8b%9c%ec%8a%a4%ed%85%9c-%ec%9d%b4%ed%95%b4","status":"publish","type":"post","link":"https:\/\/www.sisinternational.com\/ko\/understanding-chinas-shadow-banking-system\/","title":{"rendered":"\uc911\uad6d\uc758 \uadf8\ub9bc\uc790 \uae08\uc735 \uc2dc\uc2a4\ud15c \uc774\ud574"},"content":{"rendered":"
\"SIS<\/figure>\n\n\n\n

<\/p>\n\n\n

\uc911\uad6d \uacbd\uc81c\uac00 1999\ub144 \uc774\ud6c4 \ucd5c\uc800 \uc131\uc7a5\ub960\ub85c \ub454\ud654\ub418\uba74\uc11c \uc911\uad6d\uc758 \uc100\ub3c4\uc6b0 \ubc45\ud0b9 \uc2dc\uc2a4\ud15c, \uc989 \uaddc\uc81c \ub2f9\uad6d\uc758 \ud1b5\uc81c\ub97c \ubc97\uc5b4\ub09c \ube44\uacf5\uc2dd \uae08\uc735 \uc2dc\uc7a5\uc774 \ucd5c\uadfc \uc870\uc0ac \ub300\uc0c1\uc774 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/h2>\n

\uacbd\uc81c \uc131\uc7a5\uc774 \uacc4\uc18d\ud574\uc11c \ub454\ud654\ub420 \uacbd\uc6b0, \uc911\uad6d\uc758 \uadf8\ub9bc\uc790 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc5d0\uc11c \uc774\ub8e8\uc5b4\uc9c4 \ub300\ucd9c\uc5d0 \ub300\ud55c \uac11\uc791\uc2a4\ub7ec\uc6b4 \ucc44\ubb34 \ubd88\uc774\ud589\uc740 \uc911\uad6d\uc758 \uc740\ud589 \ubd80\ubb38\uc740 \ubb3c\ub860 \ub098\uba38\uc9c0 \uacbd\uc81c \uc804\uccb4\ub97c \uc704\ud611\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n

The unregulated and decentralized interconnected underground economy that comprises the shadow banking system have proven difficult for foreign analysts and observers to pin down. The sheer size of the system indicates that it is interconnected with China\u2019s economy. Shadow banks issue an estimated 14.5 trillion renminbi in loans, roughly 25% of all the loans made in China by the traditional banking institutions.<\/p>\n

\uadf8\ub9bc\uc790\uae08\uc735 \uc2dc\uc2a4\ud15c\uc740 \ud06c\uac8c \ud22c\uc790\uc2e0\ud0c1, \uc804\ub2f9\ud3ec, \ubcf4\uc99d\uc778, \uc9c0\ud558\uc740\ud589, \uc790\uc0b0\uad00\ub9ac\uc0c1\ud488 \ub4f1\uc73c\ub85c \uad6c\uc131\ub41c\ub2e4. \ud22c\uc790\uc2e0\ud0c1\uc740 \ud22c\uc790\uc790\uc758 \ub3c8\uc744 \uad00\ub9ac\ud558\uace0 \uc774\ub97c \uc0ac\uc5c5 \ud504\ub85c\uc81d\ud2b8\ub098 \ubd80\ub3d9\uc0b0 \ub300\ucd9c\uc5d0 \uc790\uae08\uc744 \uc870\ub2ec\ud558\ub294 \ub370 \uc0ac\uc6a9\ud558\ub294 \ud68c\uc0ac\uc785\ub2c8\ub2e4. 2011\ub144 \ud22c\uc790\uc2e0\ud0c1\uc5c5\uacc4\ub294 480\ub9cc \uc704\uc548\uc744 \ucde8\uae09\ud588\ub2e4. \uc911\uad6d\uc758 62\uac1c \ud22c\uc790\uc2e0\ud0c1 \uc911 10\uac1c\ub9cc\uc774 \ud22c\uc790 \uc218\uc775\uc744 \uacf5\uac1c\ud558\ub294 \ub4f1 \ud22c\uc790\uc2e0\ud0c1 \uc5c5\uacc4\uc758 \ud22c\uba85\uc131\uc774 \uc644\uc804\ud788 \ubd80\uc871\ud574 \ub808\ubc84\ub9ac\uc9c0\uac00 \ub192\uc740 \uc2e0\ud0c1\uc774 \uc2dc\uc2a4\ud15c\uc801 \ubd95\uad34\uc5d0 \uc9c1\uba74\ud558\uace0 \uc788\ub294\uc9c0 \ud310\ub2e8\ud558\uae30\uac00 \ub354 \uc5b4\ub835\uc2b5\ub2c8\ub2e4.<\/p>\n

\uc804\ub2f9\ud3ec<\/h2>\n

Pawnshops are prevalent in China, with over 4,000 operating across the country. Pawnshops have become a problem because they accept any sort of collateral for their short-term loans including financial securities like stocks and bonds, and even real estate property. If China\u2019s property market deteriorates, pawnshops will be left with defaulted loans that are backed by collateral that have less value on the market.<\/p>\n

\ubcf4\uc99d\uc778<\/h2>\n

\uc774\ub984\uc5d0\uc11c \uc54c \uc218 \uc788\ub4ef\uc774 \ubcf4\uc99d\uc778\uc740 \uc704\ud5d8\ud55c \ucc28\uc6a9\uc778\uc5d0\uac8c \uc81c\uacf5\ub418\ub294 \ub300\ucd9c\uc5d0 \ub300\ud55c \ubcf4\uc99d\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. \ubcf4\uc99d\uc778\uc740 \uc804\ub2f9\ud3ec\ub9cc\ud07c \ub9ce\uc740 \uad00\uc2ec\uc744 \ub450\uc9c0 \uc54a\uc73c\uba70 \uc218\uc775\uc744 \ub298\ub9ac\uae30 \uc704\ud574 \ubd88\ubc95 \ud589\uc704\ub97c \ud560 \uc218\ub3c4 \uc788\uc2b5\ub2c8\ub2e4. \ubcf4\uc99d\uc778\uc740 \uc790\uc2e0\uc774 \ubcf4\uc99d\ud558\ub294 \ub300\ucd9c\uc758 \uc77c\ubd80\ub97c \uac00\uc838\uc640 \uadf8\ub9bc\uc790 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc5d0 \ub2e4\uc2dc \ub300\ucd9c\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uadf8\ub9bc\uc790 \ub300\ucd9c\uc774 \ucc44\ubb34 \ubd88\uc774\ud589\ub420 \uacbd\uc6b0 \ud22c\uc790\uc790\uac00 \uc544\ubb34 \uac83\ub3c4 \uc5c6\uc774 \ub05d\ub0a0 \uac00\ub2a5\uc131\uc744 \ud655\ub300\ud569\ub2c8\ub2e4.<\/p>\n

\uc9c0\ud558 \uc740\ud589<\/h2>\n

\uc911\uad6d\uc5d0\uc11c \uc9c0\ud558\uc740\ud589\uc774 \uae09\uc131\uc7a5\ud558\uace0 \uc788\ub2e4. \uc740\ud589\uc740 \ud574\ub2f9 \ubd80\ubb38\uc758 \ub300\ucc28\ub300\uc870\ud45c \ub808\ubc84\ub9ac\uc9c0 \ube44\uc728\uc744 \uace0\ub824\ud558\uc9c0 \uc54a\ub294 \ubd80\uc678 \uc218\ub2e8\uc778 \uc2e0\uc6a9\uc7a5\uc744 \ubc1c\ud589\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uae30\uc5c5\uc740 \ub3d9\uc77c\ud55c \ub2f4\ubcf4\ub97c \uc0ac\uc6a9\ud558\uc5ec \uc5ec\ub7ec \uc740\ud589\uc5d0\uc11c \uc5ec\ub7ec \ub300\ucd9c\uc744 \ubc1b\uc744 \uc218 \uc788\uc73c\ubbc0\ub85c \uc774\ub7ec\ud55c \uc740\ud589\uc774 \uc2e4\uc81c\ub85c \uc5bc\ub9c8\ub098 \ud65c\uc6a9\ub418\ub294\uc9c0 \ud310\ub2e8\ud558\uae30\uac00 \uc5b4\ub835\uc2b5\ub2c8\ub2e4.<\/p>\n

\uc815\ubd80 \uc870\uce58<\/h2>\n

\uc790\uc0b0 \uad00\ub9ac \uc0c1\ud488\uc740 \uc100\ub3c4\uc6b0 \ubc45\ud0b9 \uc2dc\uc2a4\ud15c\uc5d0 \ub300\ud55c \ube44\ud310\uc5d0 \uc815\uba74\uc73c\ub85c \ub9de\uc11c\uace0 \uc788\uc73c\uba70 \uc911\uad6d \uc740\ud589 \uc0e4\uc624\uac15(Xiao Gang) \ud68c\uc7a5\uc740 \uc774 \uc0c1\ud488\uc744 \ud3f0\uc9c0 \uc0ac\uae30\ub77c\uace0 \ubd88\ub800\uc2b5\ub2c8\ub2e4. \ucc28\uc774\ub098\ub370\uc77c\ub9ac<\/em> \uc2e0\ubb38. \uc790\uc0b0 \uad00\ub9ac \uc0c1\ud488\uc740 \uc77c\ubc18\uc801\uc778 \ub300\ucd9c \ucc44\ub110\uc744 \ud1b5\ud574 \uc790\uae08\uc5d0 \uc811\uadfc\ud560 \uc218 \uc5c6\ub294 \ubd80\ub3d9\uc0b0 \uac1c\ubc1c\uc774\ub098 \uc778\ud504\ub77c\uc640 \uac19\uc740 \ud504\ub85c\uc81d\ud2b8\uc5d0 \uc790\uae08\uc744 \uc9c0\uc6d0\ud569\ub2c8\ub2e4. \ud22c\uc790\uc790\ub294 \ud22c\uc790\uac00 \ubb34\uc5c7\uc778\uc9c0, \uc5b4\ub5a4 \uc885\ub958\uc758 \uc218\uc775\uc744 \ucc3d\ucd9c\ud560 \uc218 \uc788\ub294\uc9c0 \uc804\ud600 \uc54c\uc9c0 \ubabb\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc774 \uc0c1\ud488\uc740 \uc608\uae08\ubcf4\ub2e4 \uc704\ud5d8\ud558\uc9c0\ub9cc \ud22c\uc790\uc790\ub4e4\uc740 \uc774 \uc0c1\ud488\uc774 \ub300\ubd80\ubd84\uc758 \uc740\ud589 \uc9c0\uc810\uc5d0\uc11c \ud310\ub9e4\ub418\uae30 \ub54c\ubb38\uc5d0 \uc740\ud589\uc774 \uc774 \uc0c1\ud488\uc744 \uc9c0\uc6d0\ud55c\ub2e4\uace0 \ubbff\uc2b5\ub2c8\ub2e4. \ud574\ub2f9 \uc0c1\ud488\uc774 \ubd80\uc2e4 \ucc98\ub9ac\ub418\uba74 \uc740\ud589\uc758 \ud3c9\ud310\uc774 \ud0c0\uaca9\uc744 \ubc1b\uac8c \ub429\ub2c8\ub2e4.<\/p>\n

\uc911\uad6d\uc758 \uadf8\ub9bc\uc790 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc740 \ub9e4\uc6b0 \ubcf5\uc7a1\ud558\uba70 \uc774\ub7ec\ud55c \uc2dc\uc2a4\ud15c\uc758 \uc11c\ub85c \uc5bd\ud78c \uad00\uacc4\ub85c \uc778\ud574 \uae30\uc874 \uc740\ud589 \uc2dc\uc2a4\ud15c\uc5d0 \uc5c4\uccad\ub09c \uc704\ud5d8\uc744 \ucd08\ub798\ud569\ub2c8\ub2e4. \uadf8\ub9bc\uc790 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc758 \uaddc\ubaa8\uc640 \uacbd\uc81c\uc5d0\uc11c\uc758 \uc911\uc694\ud55c \uc704\uce58\ub97c \uace0\ub824\ud560 \ub54c, \uadf8\ub9bc\uc790 \uc740\ud589 \uc2dc\uc2a4\ud15c\uc774 \ubb34\ub108\uc9c0\uba74 \uc911\uad6d\uc740 \uacbd\uc81c\uc801 \ud63c\ub780\uc5d0 \uc9c1\uba74\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n

\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

\uc911\uad6d \uacbd\uc81c\uac00 1999\ub144 \uc774\ud6c4 \uac00\uc7a5 \ub0ae\uc740 \uc131\uc7a5\ub960\ub85c \ub454\ud654\ub428\uc5d0 \ub530\ub77c \uc911\uad6d\uc758 \uc100\ub3c4\uc6b0 \ubc45\ud0b9 \uc2dc\uc2a4\ud15c, \uc989 \uaddc\uc81c \uae30\uad00\uc758 \ud1b5\uc81c \ubc16\uc5d0 \uc788\ub294 \ube44\uacf5\uc2dd \uae08\uc735 \uc2dc\uc7a5\uc774 \ucd5c\uadfc \uc870\uc0ac \ub300\uc0c1\uc774 \ub418\uc5c8\uc2b5\ub2c8\ub2e4. \uadf8\ub9bc\uc790 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc740 \uc911\uad6d\uc758 \uc740\ud589 \ubd80\ubb38\uc744 \uc704\ud611\ud560 \uc218 \uc788\uc73c\uba70\u2026 \uc790\uc138\ud788 \ubcf4\uae30<\/a><\/p>","protected":false},"author":1,"featured_media":67495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[287],"tags":[],"class_list":["post-12132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-spotlight","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"_links":{"self":[{"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/posts\/12132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/comments?post=12132"}],"version-history":[{"count":1,"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/posts\/12132\/revisions"}],"predecessor-version":[{"id":69206,"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/posts\/12132\/revisions\/69206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/media\/67495"}],"wp:attachment":[{"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/media?parent=12132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/categories?post=12132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sisinternational.com\/ko\/wp-json\/wp\/v2\/tags?post=12132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}