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

  • Geopolitics and its Impact on Global Trade and the Dollar

    May 7, 2024

    After years of shocks—including the COVID-19 pandemic and Russia’s invasion of Ukraine—countries are reevaluating their trading partners based on economic and national security concerns. Foreign direct investment flows are also being re-directed along geopolitical lines. Some countries are reevaluating their heavy reliance on the dollar in their international transactions and reserve holdings.

  • Opening Remarks at the press conference on the release of the IMF’s Regional Economic Outlook for Asia and Pacific

    April 30, 2024

    Opening Remarks by Krishna Srinivasan, Director of the Asia and Pacific Department at the press conference on the release of the IMF’s Regional Economic Outlook for Asia and Pacific, April 30, 2024, Singapore

  • Regional Economic Outlook for Asia and Pacific

    April 29, 2024

  • Opening Remarks by Deputy Managing Director Okamura at the Thirteenth IMF-Japan High-Level Tax Conference for Asian Countries

    April 25, 2024

    Since then, the global economy has shown surprising resilience to successive shocks. As you have seen in our latest World Economic Outlook, we expect global growth to reach 3.1 percent this year. Asia remains the engine of growth—on track to deliver 60 percent of global growth this year. And it is ahead of the curve on taming inflation. Most countries in Asia are expected to reach central bank targets in 2024. But challenges remain. Providing extraordinary support in response to the pandemic and Russia’s war in Ukraine has left governments with fewer resources amid high debt and rising debt servicing costs. At the same time, demand for public spending is growing, including in Asia—which faces aging populations and climate change. And the lowest medium-term global growth prospects in decades mean less tax revenues to pay for it all.

  • Building a Fair and Inclusive Tax System in Asia

    April 25, 2024

    Opening Remarks by Deputy Managing Director Okamura at the Thirteenth IMF-Japan High-Level Tax Conference for Asian Countries, Tokyo, Japan, April 25, 2024


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IMF China Working Papers


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


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)


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

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)


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)


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

April 29, 2024

April 2024 Regional Economic Outlook for Asia and Pacfic

Steady Growth amid Diverging Prospects

Growth in Asia and the Pacific outperformed expectations in late 2023, reaching 5.0 percent for the year. Inflation has continued to decline, albeit at varying speeds: some economies are still seeing sustained price pressures, while others are facing deflationary risks.In 2024, growth is projected to slow modestly to 4.5 percent. Near-term risks are now broadly balanced, as global disinflation and the prospect of monetary easing have increased the likelihood of a soft landing. Spillovers from a deeper property sector correction in China remain an important risk, however, while geoeconomic fragmentation clouds medium-term prospects. Given the diverse inflation landscape, central bank policies need to calibrate policies carefully to domestic needs. Fiscal consolidation should accelerate to contain debt burdens and debt service cost, in order to preserve budgetary space for addressing structural challenges, including population aging and climate change.
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