The ESRC and the National Science Foundation of China (NSFC) are pleased to invite proposals focusing on developing financial systems to support sustainable growth in China.
The objective of this Newton Fund call will be to deliver three-year research funding for internationally competitive and innovative collaborative projects between researchers from China and the UK.
The remarkable growth of the Chinese economy in recent decades has been a key factor in lifting millions of people out of poverty within China itself and an increasingly important driver of economic performance in other emerging economies. An important issue in understanding China’s success, and crucially the future prospects of the economy as it enters a more mature phase, is the role of the domestic financial system. What has been the relationship between finance and growth in China and how will this need to change if rapid economic growth is to be sustained? How can China manage the associated risks as domestic financial markets become more liberalised and sophisticated? How can the financial system be developed so that it supports both social development and the interests of innovation and growth?
The participating funding agencies have identified the following five areas:
the role of the Chinese financial system in sustaining economic growth
alternative strategies for reform and liberalisation
cross-border mergers and acquisitions, foreign direct investment and RMB internationalisation
issues for regulation, risk management and governance
the potential for technology-based financial innovation and associated new business models in the Chinese context.
This call has been launched under the Newton Fund and as such all research projects should be collaborative in nature and be focused on addressing research of relevance to China. Each project will therefore require both a UK and a Chinese principal investigator.
The ESRC has allocated up to £2 million and NSFC has allocated 20 million RMB. We expect to fund between six to eight research projects through this joint call depending on the quality of proposals received.
Proposals are invited for joint UK and Chinese project: each proposal may request £250,000 - £400,000 at 100 per cent fEC from the ESRC and up to 2 million RMB from the NSFC. Your grant should be a proposed duration of no more than 36 months.
Consortia should consider how their proposal makes the best use of available expertise in the UK and China, the added value of collaboration, and how the proposal will meet the Official Development Assistance (ODA) requirements (RCUK website) of this Newton Fund activity and contribute towards the economic development and welfare of China.
As this is a joint proposal to ESRC and NSFC, applicants should ensure that identical proposals are submitted by 16.00 (UK time) on 20 July 2016 to both ESRC and NSFC. No proposals received after this deadline will be considered for funding.
Both proposals should feature an identical case for support written in English. For each collaborative proposal, the UK and China lead partners should prepare a single case for support that should be submitted to both ESRC and NSFC. This common case for support will allow the ESRC and NSFC to obtain reviews of the same document, coming together in a joint panel decision meeting.
Please ensure that the following are included in both submissions:
Common case for support in English
International funding agency resource form (available below)
NSFC financial cost template.
The UK application should be submitted through the UK Research Councils grant submission system Je-S (please see Je-S guidance below for further details).
For full details on how to submit please contact NSFC.
Please quote application code G0302 in your application to NSFC. Failure to submit with this code will result in your application being disqualified.
Closing date for proposals - 20 July 2016
ESRC and NSFC joint panel - November 2016
Decisions announced - November 2016
Grants commence - 1 January 2017
Call specification (PDF, 184Kb)
Je-S guidance notes for applicants (PDF, 230Kb)
International funding agency resource form (ODT, 63Kb)
NSFC financial cost template (ODT, 37Kb)
For further information, please email email@example.com or contact:
Telephone: 01793 413085
Telephone: 01793 413003
The Newton Fund
The UK contribution will be channelled from the Newton Fund. The Newton Fund is an initiative intended to strengthen research and innovation partnerships between the UK and emerging knowledge economies.
The Fund forms part of the UK’s Official Development Assistance (ODA) commitment which is monitored by the Organisation for Economic Cooperation and Development (OECD). ODA-funded activity focuses on outcomes that promote the long-term sustainable growth of countries on the OECD Development Assistance Committee list. Newton Fund countries represent a sub-set of this list.
The Newton Fund requires that the funding be awarded in a manner that fits with Official Development Assistance (ODA) guidelines. All applications under this call must therefore be compliant with these guidelines.