1 online resource (161 p.)

Table of contents; Basic statistics of China; Executive summary; Main findings; Macroeconomic developments and prospects; Selected reform areas; Key policy recommendations; Macrostructural policies; Financial sector reform; Competition and innovation; Inclusive urbanisation; Intergovernmental fiscal...

Box 1. Off-budget borrowingFigure 3. Off-budget borrowing by entity and the stock of off-budget debt; Figure 4. Infrastructure and other investment; Figure 5. Social spending by the national government has grown sharply; The export sector has been under strain but rebalancing has made headway; Box 2...

The economy slowed down but a recovery is under wayFigure 9. Migrants' wages have increased briskly in recent years; Figure 10. China's growing importance to other economies; Box 3. Main macrostructural policy recommendations; China's high growth can be sustained over the medium term; China's achiev...

Continued migration of labour from agriculture will support productivity growthFigure 13. In agriculture, employment has declined and productivity has risen; Further capital accumulation, as well as more education and innovation, will also support growth; Figure 14. Fall in agricultural employment i...

Figure 18. Composition of financing flowsFigure 19. Evidence of de facto capital account convertibility; Figure 20. Official foreign exchange reserves; Box 4. Main recommendations on financial sector reform; Strengthening innovation and competition is essential for sustaining growth; Liberalisation...

Figure 23. The largest 500 Chinese metropolitan areas by GDP per capita: international comparison