People’s Republic of China: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 394

Publication date: October 2006

ISBN: 9781451807813

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Finance , Economics- Macroeconomics , Money and Monetary Policy , ISCR , CR , credit growth , investment growth , liquidity in the banking system , US$ rate , growth , headline CPI inflation , net export , Exchange rates , Commercial banks , Stock markets , Consumption , Global

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Summary

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 will play a role in contributing to an orderly process for resolving global current account imbalances. Center-local fiscal relations need to be reformed, and such reform will help to rebalance the economy and spread the benefits of growth.