{"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":"entendendo-o-sistema-bancario-paralelo-da-china","status":"publish","type":"post","link":"https:\/\/www.sisinternational.com\/pt\/entendendo-o-sistema-bancario-paralelo-da-china\/","title":{"rendered":"Compreendendo o sistema banc\u00e1rio paralelo da China"},"content":{"rendered":"
\"Pesquisa<\/figure>\n\n\n\n

<\/p>\n\n\n

O sistema banc\u00e1rio paralelo da China, ou o mercado de financiamento informal que est\u00e1 fora do controlo regulador, foi recentemente alvo de escrut\u00ednio, \u00e0 medida que a economia chinesa abranda para a sua taxa de crescimento mais baixa desde 1999.<\/h2>\n

Se o crescimento econ\u00f3mico continuar a abrandar, os incumprimentos repentinos dos empr\u00e9stimos concedidos no sistema banc\u00e1rio paralelo do pa\u00eds poder\u00e3o amea\u00e7ar o sector banc\u00e1rio da China e, eventualmente, o resto da economia.<\/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

The shadow banking system is largely composed of investment<\/a> trusts, pawn shops, guarantors, underground banks, and wealth management products. Investment trusts are companies that manage<\/a> investors\u2019 money and use it to finance business projects or property loans. In 2011, the investment trust industry was handling 4.8 million renminbi. The total lack of transparency in the investment trust industry–only 10 of the 62 investment trusts in China disclose investment returns–makes it harder to gauge if the highly leverage trusts are facing systemic collapse.<\/p>\n

Casas de penhores<\/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<\/a> deteriorates, pawnshops will be left with defaulted loans that are backed by collateral that have less value on the market.<\/p>\n

Fiadores<\/h2>\n

Como o nome sugere, os fiadores fornecem garantias sobre empr\u00e9stimos concedidos a mutu\u00e1rios de risco. Os fiadores n\u00e3o geram tantos juros quanto as casas de penhores e podem recorrer a pr\u00e1ticas ilegais para aumentar seus rendimentos. Os fiadores podem pegar uma parte do empr\u00e9stimo que est\u00e3o garantindo e emprest\u00e1-lo de volta ao sistema banc\u00e1rio paralelo. Isto aumenta o potencial para os investidores ficarem sem nada caso os empr\u00e9stimos paralelos entrem em incumprimento.<\/p>\n

Bancos subterr\u00e2neos<\/h2>\n

Os bancos clandestinos est\u00e3o crescendo na China. Os bancos est\u00e3o a emitir cartas de cr\u00e9dito que s\u00e3o ve\u00edculos extrapatrimoniais que n\u00e3o s\u00e3o tidos em conta nos r\u00e1cios de alavancagem do balan\u00e7o do sector. As empresas podem obter v\u00e1rios empr\u00e9stimos de bancos diferentes utilizando a mesma garantia, tornando assim dif\u00edcil determinar at\u00e9 que ponto estes bancos est\u00e3o realmente alavancados.<\/p>\n

A\u00e7\u00e3o governamental<\/h2>\n

Os produtos de gest\u00e3o de patrim\u00f4nio suportaram o peso das cr\u00edticas ao sistema banc\u00e1rio paralelo, com o presidente do Banco da China, Xiao Gang, chamando os produtos de esquema Ponzi em um artigo de opini\u00e3o no Di\u00e1rio da China<\/em> newspaper.\u00a0 Wealth management products fund projects<\/a> such as property development or infrastructure that cannot access funds through normal loan channels. Investors may not have any idea about what the investment is or what kind of returns<\/a> they can generate. The products are riskier than deposits, but investors believe that banks back them as they are marketed<\/a> in most bank branches. If the products default, banks\u2019 reputations will take a hit.<\/p>\n

O sistema banc\u00e1rio paralelo da China \u00e9 muito complexo e representa riscos enormes para o sistema banc\u00e1rio convencional devido \u00e0 rela\u00e7\u00e3o interligada destes sistemas. Dada a dimens\u00e3o do sistema paralelo e o lugar significativo na economia, a China poder\u00e1 enfrentar turbul\u00eancias econ\u00f3micas se o sistema banc\u00e1rio paralelo entrar em colapso.<\/p>\n

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

O sistema banc\u00e1rio paralelo da China, ou o mercado de financiamento informal que est\u00e1 fora do controlo regulador, foi recentemente alvo de escrut\u00ednio, \u00e0 medida que a economia chinesa abranda para a sua taxa de crescimento mais baixa desde 1999. Se o crescimento econ\u00f3mico continuar a abrandar, incumprimentos repentinos nos empr\u00e9stimos concedidos no pa\u00eds sistema banc\u00e1rio paralelo pode amea\u00e7ar o setor banc\u00e1rio da China e\u2026 Leia mais<\/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\/pt\/wp-json\/wp\/v2\/posts\/12132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/comments?post=12132"}],"version-history":[{"count":2,"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/posts\/12132\/revisions"}],"predecessor-version":[{"id":81309,"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/posts\/12132\/revisions\/81309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/media\/67495"}],"wp:attachment":[{"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/media?parent=12132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/categories?post=12132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sisinternational.com\/pt\/wp-json\/wp\/v2\/tags?post=12132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}