Crowdfunding in China: Turmoil of Global Leadership

Abstract

This chapter offers a comprehensive review and explanation of crowdfunding in China. It first extensively describes the status of crowdfunding in China by presenting the market facts, insights, and current regulations of the four main crowdfunding models (reward-based, equity-based, loan-based, and donation-based) respectively. Next, through a detailed up-to-date literature review of the key literature of Chinese crowdfunding, three main research streams are summarized and discussed covering success drivers, comparative studies of Chinese versus other contexts of crowdfunding practice, and applications of crowdfunding for creative and sustainability projects. Finally, both practical and research implications are presented together with the challenges and future research directions on crowdfunding in China.