People’s Republic of China: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People's Republic of China
IMF Staff Country Reports, January 8, 2021
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- People’s Republic of China: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People's Republic of China
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Bibliographic details
- Published: January 8, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513566184.002
Executive summary and outlook
- The Chinese economy continues its fast recovery from the health and economic crisis.
- A strong containment effort and macroeconomic and financial policy support have mitigated the crisis impact and helped the economy rebound.
- Growth is still unbalanced: the recovery has relied heavily on public support while private consumption is lagging.
- Rising financial vulnerabilities and the increasingly challenging external environment pose risks to the outlook.
- Important reforms have progressed despite the crisis, but unevenly across key areas.
Key findings and risks
- Recovery drivers:
- Strong containment effort.
- Macroeconomic and financial policy support.
- Imbalances and vulnerabilities:
- Recovery reliance on public support.
- Private consumption lagging.
- Rising financial vulnerabilities.
- Increasingly challenging external environment.
- Reform progress:
- Important reforms have proceeded despite the crisis.
- Progress is uneven across key areas.
Subjects and keywords
- Subject: COVID-19, Credit, Fiscal policy, Public debt, Social assistance spending
- Keywords: core inflation, CR, financial support, government-managed funds, interest rate, ISCR, micro enterprise, zombie firm
Source: People’s Republic of China: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People's Republic of China (January 8, 2021).
Content in this bundle
- 1. China’s Exit Strategy From COVID-19