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The People's Republic of China; Selected Issues

International Monetary Fund

No 16/271, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper reviews China’s progress along various dimensions of rebalancing. External rebalancing has advanced well, while progress on internal rebalancing has been mixed—substantial on the supply side, moderate on the demand side, and limited on credit dependence. Rebalancing on the environment and inclusiveness has lagged. The high national rate of saving is expected to fall owing to demographic change and a stronger social safety net. The consumption ratio is expected to increase with a rising labor income share and less household saving. Supply-side rebalancing from industry to services is expected to advance further, helping reduce the carbon intensity of output and promote income equality.

Keywords: Transition economies; Economic growth; Monetary policy; Corporate sector; Credit expansion; Debt; Public enterprises; Fiscal reforms; Capital flows; Financial sector; Spillovers; Climate policy; Selected Issues Papers; China, People's Republic of (search for similar items in EconPapers)
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Date: 2016-08-12
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Handle: RePEc:imf:imfscr:16/271