BigTech Credit and Monetary Policy Transmission: Micro-Level Evidence from China

Digital Transformation of Commercial Banks, Monetary Policy Transmission Efficiency and SME Financing: Empirical Evidence from the Chinese Market

“…From the comparison of the transmission mechanism of monetary policy through traditional banks and big technology credit institutions, the information advantage and risk management mode of technology giant lenders mainly strengthen the transmission of mone- tary policy through large interest rate spreads, and the financial channels that obtain credit from technology giant lenders are more significant in coping with monetary policy than traditional banks. This shows that monetary policy should consider the amplification mechanism of fintech loans in the financial market, especially the technology giant lenders (Huang et al, 2022).…”