The People's Republic of China: Selected Issues
IMF Staff Country Reports, August 12, 2016
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- The People's Republic of China: Selected Issues
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Bibliographic details
- Published: August 12, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475524383.002
Executive summary
- External rebalancing has advanced well.
- Internal rebalancing has been mixed:
- Substantial progress on the supply side.
- Moderate progress on the demand side.
- Limited progress 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.
Key findings and implications
- External position: advanced well (no numeric change reported on the page).
- Internal rebalancing:
- Supply-side: substantial progress, with continued shift from industry to services anticipated.
- Demand-side: moderate progress, with consumption ratio expected to rise.
- Credit dependence: limited progress, indicating ongoing vulnerabilities in credit dynamics.
- Environment and inclusiveness: lagging rebalancing suggests policy attention is needed to improve environmental outcomes and equity.
Projections and drivers
- Saving and consumption:
- National saving rate: expected to fall due to demographic change and a stronger social safety net.
- Consumption ratio: expected to increase as labor income share rises and household saving declines.
- Structural change:
- Continued advancement of supply-side rebalancing from industry to services expected to:
- Reduce carbon intensity of output.
- Promote income equality.
Document note
- This is an IMF Selected Issues paper reviewing China’s progress on rebalancing across multiple dimensions.
Source: The People's Republic of China: Selected Issues, August 12, 2016 — https://www.imf.org/en/publications/cr/issues/2016/12/31/the-people-s-republic-of-china-selected-issues-44182
Content in this bundle
- The People's Republic of China: Selected Issues; IMF Country Report 16/271; July 7, 2016
- IMF中国国别报告第 [16/271] 号; Selected Issues; 016 年7 月7 日
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