IMF Staff Country Reports

People’s Republic of China: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China

August 2, 2024

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Format: Chicago

International Monetary Fund. Asia and Pacific Dept "People’s Republic of China: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China", IMF Staff Country Reports 2024, 258 (2024), accessed September 16, 2024, https://doi.org/10.5089/9798400284281.002

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Also available in: 中文

Summary

After four decades of high growth and remarkable socioeconomic achievements, China’s growth has decelerated in recent years, reflecting the pandemic, a large but needed property market correction, and structural headwinds such as weakening productivity and labor force growth. The transition to lower growth is consistent with the authorities’ goal to pursue high-quality growth and reduce the imbalances and vulnerabilities that have emerged, most notably with the significant build-up of debt. The authorities have taken incremental policy steps to achieve these objectives, but a comprehensive and balanced policy approach is needed to manage the challenges facing the economy.

Subject: Deflation, Fiscal policy, Fiscal stance, Housing, Inflation, National accounts, Prices

Keywords: Asia and Pacific, Currency basket, Deflation, Fiscal stance, Global, Housing, Includes government fund, Inflation, Interest rate, Monetary policy operation, Nominal GDP, State-administered SOE funds, Trading price

Publication Details

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