Network Subgraphs of the heterogeneous Chinese credit system

In this study, we investigate the evolution of Chinese guarantee networks from the angle of sub-patterns. First, we find that the mutual, 2-out-stars and triangle sub-patterns are motifs in 2- and 3-node subgraphs. Considering the heterogeneous financial characteristics of nodes, we find that small firms tend to form a mutual guarantee relationship and large firms are likely to be the guarantors in 2-out-stars sub-patterns.