China Resident Representative Site
Resident Representative Office in People's Republic of China
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.
News — Highlights
The IMF has released today the quarterly data on the currency composition of official foreign exchange reserves (COFER) for Q2 2015. We commend the many jurisdictions that have voluntarily agreed to have their names listed as COFER participants. As set out in the publication, I can confirm China’s participation in the COFER survey in keeping with international best practices.
China’s residential real estate sector plays an important role in the economy and has been a key driver of growth. Since 2014 the sector has softened visibly, reflecting overbuilding across many cities. An orderly adjustment of the sector is welcome. The key questions are how severe the adjustment will be and how long it will last
China and the IMF
The Role of Emerging Markets in a New Global Partnership for Growth by IMF Managing Director Christine Lagarde
Regional Economic Outlook: Asia and Pacific
While Asia's growth has recently disappointed, the region is expected to grow at a steady 5.4 percent in 2015-16, remaining the global growth leader. Asia's growth should benefit from relatively strong labor markets and disposable income growth along with the ongoing gradual recovery in major advanced economies. Across most major Asian economies, lower commodity prices should help consumption. Negative risks to growth dominate, especially the possibility of a sharper slowdown in China or larger spillovers from the changing composition of China's demand. In addition, further U.S. dollar strength accompanied by a sudden tightening of global financial conditions, weaker growth in Japan, and weaker regional potential growth could also dim Asia's growth prospects. High leverage could amplify shocks, and lower commodity prices will also hurt corporate investment in key commodity-producing sectors. All in all, despite its resilient outlook, Asia is facing a challenging economic environment. This calls for carefully calibrated macroeconomic policies and a renewed impetus on structural reforms to facilitate investment and improve economic efficiency, bolstering economic resilience and potential growth.