{
  "title": "The People's Republic of China: Selected Issues",
  "publication": "IMF Staff Country Reports, August 12, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/the-people-s-republic-of-china-selected-issues-44182",
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  "summary": "This Selected Issues paper reviews China’s progress along various dimensions of rebalancing. External rebalancing has advanced well, while progress on internal rebalancing has been mixed—substantial on the supply side, moderate on the demand side, and limited on credit dependence.",
  "publishDate": "2016-08-12",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- External rebalancing has advanced well.\n- Internal rebalancing has been mixed:\n  - Substantial progress on the supply side.\n  - Moderate progress on the demand side.\n  - Limited progress on credit dependence.\n- Rebalancing on the environment and inclusiveness has lagged.\n- The high national rate of saving is expected to fall owing to demographic change and a stronger social safety net.\n- The consumption ratio is expected to increase with a rising labor income share and less household saving.\n- Supply-side rebalancing from industry to services is expected to advance further, helping reduce the carbon intensity of output and promote income equality."
    },
    {
      "heading": "Key findings and implications",
      "content": "- External position: advanced well (no numeric change reported on the page).\n- Internal rebalancing:\n  - Supply-side: substantial progress, with continued shift from industry to services anticipated.\n  - Demand-side: moderate progress, with consumption ratio expected to rise.\n  - Credit dependence: limited progress, indicating ongoing vulnerabilities in credit dynamics.\n- Environment and inclusiveness: lagging rebalancing suggests policy attention is needed to improve environmental outcomes and equity."
    },
    {
      "heading": "Projections and drivers",
      "content": "- Saving and consumption:\n  - National saving rate: expected to fall due to demographic change and a stronger social safety net.\n  - Consumption ratio: expected to increase as labor income share rises and household saving declines.\n- Structural change:\n  - Continued advancement of supply-side rebalancing from industry to services expected to:\n    - Reduce carbon intensity of output.\n    - Promote income equality."
    },
    {
      "heading": "Document note",
      "content": "- This is an IMF Selected Issues paper reviewing China’s progress on rebalancing across multiple dimensions.\n\nSource: 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\n\n---\n\n Content in this bundle\n\n- The People's Republic of China: Selected Issues; IMF Country Report 16/271; July 7, 2016\n  - The People's Republic of China: Selected Issues; IMF Country Report 16/271; July 7, 2016 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - The People's Republic of China: Selected Issues; IMF Country Report 16/271; July 7, 2016 (PDF){rel=\"external\" type=\"application/pdf\"}\n- IMF中国国别报告第 [16/271] 号; Selected Issues; 016 年7 月7 日\n  - [IMF中国国别报告第 [16/271] 号; Selected Issues; 016 年7 月7 日 (Markdown version)](/-/media/websites/imf/imported-publications/external/chinese/pubs/ft/scr/2016/cr16271c.pdf.md){rel=\"alternate\" type=\"text/markdown\"}\n  - [IMF中国国别报告第 [16/271] 号; Selected Issues; 016 年7 月7 日 (PDF)](/-/media/websites/imf/imported-publications/external/chinese/pubs/ft/scr/2016/cr16271c.pdf){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/the-people-s-republic-of-china-selected-issues-44182"
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    "Published: August 12, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475524383.002",
    "External rebalancing has advanced well.",
    "Internal rebalancing has been mixed:",
    "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.",
    "External position: advanced well (no numeric change reported on the page).",
    "Internal rebalancing:",
    "Environment and inclusiveness: lagging rebalancing suggests policy attention is needed to improve environmental outcomes and equity.",
    "Saving and consumption:",
    "Structural change:",
    "This is an IMF Selected Issues paper reviewing China’s progress on rebalancing across multiple dimensions.",
    "**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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