The Chinese government’s macroeconomic policy response to the crisis has delivered positive results, and mitigated the impact of the global downturn on its economy. The challenge now is to sustain this strong growth performance while switching decisively to an economy that is powered by the...

Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of “indirect” levers to regulate the behavior of...

In this study, China’s economic developments and policies are discussed. Economic growth has been increased by expanding infrastructure and real estate construction. The policy measures outlined in the twelfth five-year plan and implementation of financial reform are important for China’s...

Dieser Bericht begleitet die für die einzelnen Republiken vom IMF erstellten Wirtschaftsberichte. Zwei Hauptbereiche werden behandelt: Zuerst eine Übersicht über die Reformen und gemeinsame Politikinhalte, vor denen die einzelnen Republiken nun stehen und zweitens eine Diskussion über die...

The Asian crisis hit the Hong Kong Special Administrative Region (SAR) economy hard in 1998, despite its generally strong fundamentals. In response to the crisis, the authorities eased fiscal policy—within the framework of a medium plan to restore budget balance, and significantly strengthened...

Prospects for the future remain favorable, provided that policy actions are taken to address the risks and challenges that China faces. The government recognizes the need to contain investment and credit growth, and has tightened the monetary policy in response. Greater exchange rate flexibility...

This 2004 Article IV Consultation highlights that China has continued its rapid economic growth and integration into the global economy. Real GDP grew by 9.1 percent in 2003, underpinned by strong fixed investment and exports, which registered growth rates of 20 percent and 29 percent in real...