People’s Republic of China: Staff Report for the 2005 Article IV Consultation

International Monetary Fund

No 2005/411, IMF Staff Country Reports from International Monetary Fund

Abstract: The staff report for the 2005 Article IV Consultation on the People’s Republic of China highlights economic developments, policy discussions, and structural reforms. A larger external current account surplus, together with strong capital inflows, led to a further sizable increase in gross official reserves. A disorderly unwinding of global current account imbalances would also threaten China’s growth, as economic activity in all countries would likely suffer lingering adverse effects. Executive Directors commended the authorities for the success in sustaining high economic growth rates and for their efforts to guide the economy.

Keywords: ISCR; CR; People's Bank of China; renminbi-U.S. dollar rate; policy development; renminbi; U.S. dollar; staff appraisal; RMB exchange rate; PBC's responsibility; Exchange rate flexibility; Commercial banks; Exchange rate adjustments; Global; Europe (search for similar items in EconPapers)
Pages: 77
Date: 2005-11-17
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