IMF Staff Country Reports

People’s Republic of China : Staff Report for the 2015 Article IV Consultation

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

August 14, 2015

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2015 Article IV Consultation highlights that China is transitioning to a new normal, with slower-yet-safer, more sustainable growth. Growth in 2014 fell to 7.4 percent and, in 2015, is forecast to slow further to 6.8 percent on the back of slower investment, especially in real estate. The labor market has remained resilient despite slower growth, as the economy pivots toward the more labor-intensive service sector. Considerable progress has been made in external rebalancing. The current account surplus fell to 2.1 percent in 2014 from the peak of about 10 percent in 2007, and the renminbi has appreciated by about 10 percent since 2014 in real effective terms. Further progress has also been made on domestic rebalancing.

Series:

Country Report No. 15/234

Subject:

Article IV consultation reports Balance of payments statistics China China, People's Republic of Debt sustainability analysis Economic conditions Economic growth Economic indicators Fiscal reforms Monetary policy Press releases Public enterprises Spillovers Staff Reports

Notes:

Also available in Chinese