This web page presents information about the work of the IMF in China, including the activities of the IMF Resident Representative Office. Additional information can be found on the China and IMF country page, including IMF reports and Executive Board documents that deal with China.

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At a Glance - China and the IMF

  • Current IMF membership: 190 countries
  • China joined the Fund in December 27, 1945; Article VIII (December 1, 1996)
  • At a Glance—China and the IMF
  • Quota: SDR 9,525,9 million

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News and Highlights

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IMF's Work on China

  • Advancing China’s Sustainable Economic Growth

    March 23, 2024

    Remarks by the Managing Director Kristalina Georgieva at the China Development Forum, March 24, 2024, Beijing

  • Executing a Soft Landing for a Lasting Recovery

    March 15, 2024

    Today’s gathering comes two years after Russia’s invasion of Ukraine, a subsequent energy-price roller coaster, and the advent of a more fragmented global economy. Against this backdrop Europe has done well, because governments acted fast and decisively. Unemployment rates have remained low, inflation has declined sharply, and the EU announced a new accession effort—stemming the tide of fragmentation.

  • Transcript of IMF Press Briefing

    March 7, 2024

    Good morning to both those of us here in person and those joining us online. Welcome to the IMF press briefing. I'm Julie Kozak, Director of Communications. As usual, this briefing will be embargoed until 11:00 a.m. Eastern Time.

  • People’s Republic of China: Selected Issues

    February 9, 2024

    Series:Country Report No. 2024/050

  • China’s Real Estate Sector: Managing the Medium-Term Slowdown

    February 2, 2024

    Accelerated cleanup of distressed developers and other policies will help smooth the path to a smaller, more sustainable role in the economy.

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IMF China Working Papers

2019

China’s Digital Economy: Opportunities and Risks (January 17, 2019)

2018

China’s High Savings: Drivers, Prospects, and Policie s (December 11, 2018)

The Long-Run Trend of Residential Investment in China (December 7, 2018)

China’s Monetary Policy Communication: Frameworks, Impact, and Recommendations (November 16, 2018) - Also Available in Chinese

China’s Rebalancing: Recent Progress, Prospects and Policies (November 12, 2018)

China’s Capacity Reduction Reform and Its Impact on Producer Prices (September 28, 2018)

Inequality in China - Trends, Drivers and Policy Remedies (June 5, 2018)

Intergovernmental Fiscal Reform in China (April 13, 2018)

Credit Booms - Is China Different? (January 4, 2018)

2017

Reassessing the Perimeter of Government Accounts in China (December 8, 2017) – Translated into Chinese for Res. Rep. but not posted on imf.org.

Resolving China's Zombies: Tackling Debt and Raising Productivity (November 27, 2017) – Also Available in Chinese

Assessing China’s Residential Real Estate Market (November 16, 2017)

Real Exchange Rate and External Balance : How Important Are Price Deflators? (March 30, 2017)

Price and Wage Flexibility in Hong Kong SAR (January 20, 2017)

2016

Quantifying the Spillovers from China Rebalancing Using a Multi-Sector Ricardian Trade Model (November 15, 2016)

When China Sneezes Does ASEAN Catch a Cold? (November 10, 2016)

Resolving China’s Corporate Debt Problem (October 14, 2016)

Rebalancing in China—Progress and Prospects (September 6, 2016)

China’s Growing Influence on Asian Financial Markets (August 12, 2016)

Spillovers from China’s Growth Slowdown and Rebalancing to the ASEAN-5 Economies (August 09, 2016)

Chinese Imports : What’s Behind the Slowdown? (May 26, 2016)

China and Asia in Global Trade Slowdown (May 26, 2016)

China's Slowdown and Global Financial Market Volatility: Is World Growth Losing Out? (March 15, 2016)

Private Sector Activity in Hong Kong SAR and the Fed: Transmission Effects through the Currency Board (February 23, 2016)

2015

China’s Labor Market in the “New Normal”, Lam ,Liu , and Schipke (July 13, 2015)

China’s Growth: Can Goldilocks Outgrow Bears? Maliszewski and Zhang (May 27, 2015)

Understanding Residential Real Estate in China,  Chivakul, Lam , Liu , Maliszewski , and Schipke (April 28, 2015)

Assessing China’s Corporate Sector Vulnerabilities, Chivakul and Lam (March 30, 2015)

China: How Can Revenue Reforms Contribute to Inclusive and Sustainable Growth? Lam and Wingender (March 24, 2015)

Regional Economic Outlook

October 13, 2023

Challenges to Sustaining Growth and Disinflation

The Asia-Pacific region remains a key driver of global growth in 2023, despite facing headwinds from changing global demand from goods to services and tighter monetary policies. The region is expected to grow by 4.6 percent in 2023, up from 3.9 percent in 2022. However, growth is projected to slow to 4.2 percent in 2024 and 3.9 percent in the medium term, as China's structural slowdown (Chapter 3 explains) and lower productivity growth in many other economies dampen the region's potential. Inflation is expected to decline in 2024 and stay within central bank target ranges in most countries, a faster pace of disinflation than in other regions (Chapter 2 explains.) Risks to the outlook have become more balanced than they were six months ago, although they still lean to the downside.
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