IMF Resident Representative
Office in China
At a Glance - China and the IMF
September 1, 2004
IMF Economic Policy Consultations with China
The IMF holds annual Article IV consultations on economic developments and policy issues with China. In recent years, these discussions have focussed on macroeconomic policies to cushion the impact of the Asian financial crisis and foster sustainable growth over the medium term. Other important issues have been structural reforms in the financial sector, external sector, and state enterprises. For the latest Article IV consultations, see http://www.imf.org/external/np/sec/aiv/index.htm.
Current Financial Relations
Since 1981, China has twice used IMF credits -- in 1981 and in 1986. The credits under these arrangements have been fully repaid; see table on China's financial position in the Fund .
IMF Technical Assistance
Technical assistance cooperation between China and the IMF has increased rapidly in recent years. Since 1990, technical assistance to China has taken the form of missions, seminars, and visits by experts, and has focused primarily on macroeconomic areas such as fiscal policy and tax administration, commercial and central banking legislation, development of monetary instruments and an interbank market, external current account convertibility and a unified foreign exchange market, and economic and financial statistics.
The IMF-sponsored training programs for Chinese officials included financial analysis and programming, balance of payments, public finance, government finance, and money and banking, external capital account convertibility, as well as methodologies in financial statistics compilation. In addition, many Chinese officials have attended courses and seminars at the Joint Institute in Vienna, Austria. Finally, the People's Bank of China and the IMF recently established a Joint China-IMF Training Program.
IMF Representation in China
The IMF maintains a representative office in Beijing. The Senior Resident
Representative is Mr. Ray Brooks (Tel: 86 10 6505-1155, ext. 201). The Resident Representative is Mr. Steven Barnett (Tel: 86 10 6505-1155, ext. 202).