China 2022

OECD economic surveys 2022/8

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Organisation for Economic Co-operation and Development

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OECD

China's economy has strongly rebounded from the deep dive following the COVID-19 outbreak and has returned to its gradually slowing path. The re-balancing from investment to consumption, from manufacturing to services, and from rural to urban migration have all been set back by the pandemic, but need to restart to make growth sustainable and inclusive. The investment-driven recovery kept investment efficiency low, indicating continued capital mis-allocation. Corporate debt climbed to pre-pandemic highs: borrowing has been fuelled by crisis-related and more long-standing factors, including implicit guarantees for state-owned enterprises and other public entities. Slowing growth and continuing tax cuts will imply lower fiscal resources to make growth more inclusive, thus stable revenue sources from personal income taxes and dividends from state-owned enterprises are needed. Although the population is aging rapidly, China can still reap the 'reform dividend' with measures to keep up the sustained growth of productivity. Reforms that enhance competition in product markets are among those that can potentially bring about significant productivity gains

Extent	108p.	ISBN	9789264799318
Size	N/A	Price	£40.00
Format	Paperback	Published	18 Mar 2022
Availability	Out of stock - available to order	Delivery	Delivery options and charges