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Professor of Political Science, Fudan University
Skyline Scholar (2025), Stanford Center on China's Economy and Institutions
gangsheng_bao.jpeg Ph.D.

Gangsheng Bao is a Professor of Political Science at the School of International Relations and Public Affairs, Fudan University, Shanghai, China. He was an appointed Skyline Scholar at the Stanford Center on China’s Economy and Institutions in 2025.

Professor Bao earned his Ph.D. from Peking University in 2012. His research interests include political theory, comparative politics, and political history, with a particular focus on theories of political modernization and democratization. He has published numerous journal articles and authored several books. His major works include: The Fate of Civilization States: From Political Crisis to Modernization (2024), Political Evolution: From Ancient Times to the 21st Century (2023), Crises and Solutions: Reflections on Political Thought in Early China (2023), Politics of Democratic Breakdown (English version, 2022; Chinese version, 2014), The Logic of Democracy (2018), and The Common Sense of Modern Politics (2015).

Professor Bao’s book Politics of Democratic Breakdown was awarded the "Best Social Science Book of the Year" in 2014 by The Beijing News and was listed among the “Nineteen Recommended Chinese Books of the Year” in 2014 by The New York Times (International Chinese Network). In 2023, Political Evolution: From Ancient Times to the 21st Century was honored as one of the “Ten Best Chinese Original Books in Humanities and Social Sciences of the Year” by Tencent and as one of the “Ten Best Books of the Year” by The China Business Network. Similarly, The Fate of Civilization States: From Political Crisis to Modernization was selected as one of the “Ten Best Books of the Year” in 2024 by the Nanfang Daily. Additionally, his work The Logic of Democracy earned him the title of "Best Author of the Year" in 2018 from The Economic Observer.

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This study aims to compare the ratings of primary caregivers and teachers of any mental health problems of preschool children in rural China. The primary caregivers and teachers provided their ratings of mental health of 1,191 sample rural preschool children (mean age = 56.8 months; 587 girls) using the Strengths and Difficulties Questionnaire (SDQ). According to the findings, primary caregivers consistently gave their children higher SDQ scores and identified more symptoms across the different categories of mental health problems (i.e., normal, borderline, and abnormal) than teachers. The correlations between the ratings of caregivers and the ratings of teachers were low. The study also identifies the characteristics of children, caregivers, and teacher that were correlated with the differences in the ratings. Specifically, boys, children that were identified by scales of cognitively development as being delayed, and those that parented with authoritarian style were more likely to be rated differently by primary caregivers and teachers. In addition, primary caregivers from relatively poor families rated their children differently from teachers, compared with primary caregivers from relatively rich families. Regarding teachers, they tended to rate on child mental health differently from primary caregivers when they were male or at older age. These findings suggest considering multi-informant reports when assessing the mental health problems of preschool children in different settings. In addition, understanding factors linked to informant discrepancies can potentially improve the accuracy of the assessments.

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International Journal of Behavioral Development
Authors
Scott Rozelle
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SCCEI Seminar Series (Winter 2025)


Friday, February 7, 2025 | 12:00 pm -1:20 pm Pacific Time
Goldman Room E409, Encina Hall, 616 Jane Stanford Way



Homemade Foreign Trading: Insider Evasion in China’s Stock Connect Program


Using cross-border holding data from all custodians—financial institutions that safeguard and manage assets—in China’s Stock Connect program, we provide evidence that Chinese mainland insiders evaded see-through surveillance, a tracking mechanism to monitor the true beneficiaries of financial transactions, by engaging in round-tripping trades that disguise domestic capital as foreign investments. Following the 2018 regulatory reform of Northbound Investor Identification, which enhanced regulatory oversight and identification of investors, the correlation between insider trading and northbound flows—capital moving from offshore markets into mainland-listed stocks—weakens. Additionally, the reform reduced the return predictability of these flows, meaning that insider activity within northbound flows no longer strongly predicts future stock performance. This reduction in return predictability is particularly pronounced among less prestigious foreign custodians and cross-operating mainland custodians, who were more commonly used by mainland insiders to conceal their activities. Our analysis highlights the critical role of regulatory cooperation in managing capital market integration and addressing cross-border regulatory arbitrage.

Please register for the event to receive email updates and add it to your calendar. Lunch will be provided.



About the Speaker 
 

Zhiguo He headshot

Professor Zhiguo He is the James Irvin Miller Professor of Finance at the Graduate School of Business, Stanford University. He is a financial economist whose expertise covers financial markets, financial institutions, and macroeconomics broadly. He is also conducting academic research on Chinese financial markets, and writing academic articles on new progress in the area of cryptocurrency and blockchains. Before joining Stanford GSB, he was on the faculty of Chicago Booth from 2008 to 2023, where he received tenure in 2015 and led Becker Friedman Institute China from 2020 to 2023.

His research has been published in leading academic journals in finance and economics. After serving as associate editors for several leading academic journals, He served as the guest editor of the Review of Finance ”Special Issue on China” and currently serves as the editor of the Review of Asset Pricing Studies.

Professor He received his bachelor and master degrees from the School of Economics and Management at Tsinghua University before receiving his PhD from the Kellogg School of Management at Northwestern University in 2008. 

 


A NOTE ON LOCATION

Please join us in-person in the Goldman Conference Room located within Encina Hall on the 4th floor of the East wing.



Questions? Contact Xinmin Zhao at xinminzhao@stanford.edu
 


Goldman Room E409, Encina Hall

Zhiguo He, Professor of Finance, Stanford Graduate School of Business
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Postdoctoral Scholar, Stanford Center on China's Economy and Institutions
Shen Yun Edited (2).png Ph.D.

Yun Shen is a postdoctoral scholar at the Stanford Center on China's Economy and Institutions. Her research areas include maternal labor supply, childcare service, and early childhood development. She's currently focusing on research related to group-based interventions in early childhood development and caregivers' mental health in rural China. She received her Ph.D in Agricultural Economics from Zhejiang University. Yun is an expert on Friends and The Office.

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Skyline Scholar (2025), Stanford Center on China's Economy and Institutions
Professor of Economics, Noranda Chair in Economics and International Trade, University of Toronto
Research Fellow, IZA
loren_brandt_-_bg_remove.png PhD

Loren Brandt is the Noranda Chair Professor of Economics at the University of Toronto specializing in the Chinese economy. He is also a research fellow at the IZA (The Institute for the Study of Labor) in Bonn, Germany. He has published widely on the Chinese economy in leading economic journals and been involved in extensive household and enterprise survey work in both China and Vietnam. With Thomas Rawski, he completed Policy, Regulation, and Innovation in China’s Electricity and Telecom Industries (Cambridge University Press, 2019), an interdisciplinary effort analyzing the effect of government policy on the power and telecom sectors in China. He was also co-editor and major contributor to China’s Great Economic Transformation (Cambridge University Press, 2008), which provides an integrated analysis of China’s unexpected economic boom of the past three decades. Brandt was also one of the area editors for Oxford University Press’ five-volume Encyclopedia of Economic History (2003). His current research focuses on issues of entrepreneurship and firm dynamics, industrial policy and innovation and  economic growth and structural change.

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Purpose: This mixed-methods study examined how differences in parental time, knowledge, and economic constraints, as well as community socioeconomic contexts, may contribute to differences in home language environment and child language ability outcomes between peri-urban and rural households in China.

Method: We conducted an explanatory sequential mixed-methods analysis using data from 158 children aged 18–24 months among peri-urban and rural households with low socioeconomic status (SES) in southwestern China. Audio recordings were collected from each household and analyzed using the Language ENvironment Analysis system. The Mandarin version of the MacArthur–Bates Communicative Development Inventories was administered to each child's primary caregiver. We also conducted qualitative interviews with primary caregivers in 31 peri-urban and 32 rural households. Interviews were recorded, transcribed, and coded.

Results: The quantitative results reveal that children in peri-urban households heard less adult speech and had lower language ability than children in rural households. Directed content analysis of interviews found that peri-urban caregivers faced more severe time constraints and less favorable community socioeconomic contexts than rural primary caregivers. Taken together, these findings suggest that differences in time constraints and community socioeconomic contexts between the two populations are the most likely factors contributing to the inferior language environment and language ability among children in peri-urban households.

Conclusion: The mixed-methods study indicated that parental time constraints and community socioeconomic contexts should be considered alongside SES for a comprehensive understanding of factors influencing parental investment in the home language environment in China.

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Language, Speech, and Hearing Services in Schools
Authors
Tianli Feng
Scott Rozelle
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A growing body of literature explores the effect of higher education on the urban–rural divide in China. Despite an increasing number of rural students gaining access to college, little is known about their performance in college or their job prospects after graduation. Using nationally representative data from over 40,000 urban and rural college students, we examine rural students’ college performance and estimate the impact of rural status on students’ first job wages in comparison to their urban peers. Our results indicate that once accepted into college, rural students perform equally as well, if not better, than their urban counterparts. Additionally, we discovered that rural students earn a 6.2 per cent wage premium compared to their urban counterparts in their first job after graduation. Our findings suggest the importance of expanding access to higher education for rural students, as it appears to serve as an equalizer between urban and rural students despite their significantly different backgrounds.

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The China Quarterly
Authors
Huan Wang
Claire Cousineau
Matthew Boswell
Hongbin Li
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We study how an elite college education affects social mobility in China. China provides an interesting context because its college admissions rely mainly on the scores of a centralized exam, a system that has been the subject of intense debate. Combining the data from a large-scale college graduate survey and a nationally representative household survey, we document three main findings.First, attending an elite college can change one’s fate to some extent. It raises the child’s rank in the income distribution by almost 20 percentiles. Nevertheless, it does not change the intergenerational relationship in income ranks or guarantee   one’s entry into an elite occupation or industry. Second, while elite college access rises with parental income, the disparity is less pronounced in China than in the United States. In China, top-quintile children are 2.3 times more likely to attend an elite college compared to bottom-quintile children, versus an 11.2-fold difference in the U.S. Third, the score-based cutoff rule in elite college admission is income neutral. Overall, these findings reveal both the efficacy and limitations of China’s elite colleges in shaping social mobility.

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Economic Development and Cultural Change
Authors
Hongbin Li
Lingsheng Meng
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We estimate the wage premium associated with having a cadre parent in China using a recent survey of college graduates carried out by the authors. The wage premium of having a cadre parent is 15%, and this premium cannot be explained by other observables such as college entrance exam scores, quality of colleges and majors, a full set of college human capital attributes, and job characteristics. These results suggest that the remaining premium could be the true wage premium of having a cadre parent.

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Journal of Development Economics
Authors
Hongbin Li
Lingsheng Meng
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This paper empirically investigates the labor market effects of China’s 2007 VAT reform, which significantly reduced the tax cost of capital investment. Employing city-by-year variation in the reform, we demonstrate that the tax cuts increased the earnings of skilled workers and left the earnings of the unskilled workers unaffected. Moreover, we find limited impacts of the reform on employment for both skill groups. These results suggest that the tax incentives increased the relative demand for skills, thus resulting in a higher income inequality between skilled and unskilled workers.

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Labour Economics
Authors
Hongbin Li
Lingsheng Meng
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