- Eswar Prasad
- Published Date:
- June 2004
© 2004 International Monetary Fund
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Typesetting: Choon Lee
Figures: Theodore F. Peters, Jr.
China’s growth and integration into the world economy: prospects and challenges/edited by Eswar Prasad; with contributions from Steven Barnett… [et al.]—Washington, D.C.: International Monetary Fund, 2004.
p. cm. — (Occasional paper, 0251–6365; 232)
Includes bibliographical references.
1. China—Foreign economic relations. 2. Prices—China. 3. Foreign exchange—China. 4. Banks and banking—China. 5. Labor market—China. I. Prasad, Eswar. II. Barnett, Steven (Steven Alan). III. Occasional paper (International Monetary Fund); no. 232.
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The following symbols have been used throughout this paper:
… to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
– between years or months (e.g., 2001–02 or January-June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (e.g., 2001/02) to indicate a fiscal (financial) year.
“n.a.” means not applicable.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.
This Occasional Paper provides an overview of analytical work done by IMF staff as background for the 2002 and 2003 Article IV Consultations with the People’s Republic of China.
The authors would like to express their deep appreciation for the valuable guidance provided by Steven Dunaway, the IMF’s mission chief for China during this period. They also thank David Burton and Wanda Tseng for their encouragement and advice. The authors are grateful to the Chinese authorities for the information that they provided and for the extensive discussions and comments that helped sharpen the analysis and presentation in this paper. Ioana Hussiada provided research assistance for this project; Yuko Kobayashi and Carolina Klein handled the preparation of the manuscript; and Esha Ray of the External Relations Department coordinated production of the publication.
The opinions expressed in this paper are solely those of its authors and do not necessarily reflect the views of the International Monetary Fund, its Executive Directors, or the Chinese authorities.
Abbreviations and AcronymsABC
Agricultural Bank of ChinaASEAN
Association of South-East Asian NationsATC
Agreement on Textiles and ClothingBOC
Bank of ChinaCARs
Capital adequacy ratiosCBRC
China Banking Regulatory CommissionCCB
China Construction BankCNAO
National Audit Office of the People’s Republic of ChinaCPI
Consumer price indexEIT
Enterprise income taxEMBI
JP Morgan Emerging Market Bond IndexEU
Foreign direct investmentFFEs
Gross domestic productGTAP
Global Trade Analysis ProjectICBC
Industrial and Commercial Bank of ChinaILO
International Labor OrganizationJSCBs
Joint-stock commercial banksMFN
Ministry of Labor and Social ServicesNBS
National Bureau of StatisticsNEER
Nominal effective exchange rateNFA
Net foreign assetsNIEs
Newly industrialized economiesNPL
Organization for Economic Cooperation and DevelopmentOLS
Ordinary least squaresPBC
People’s Bank of ChinaPPI
Producer price indexPPP
Purchasing power parityRCCs
Rural credit cooperativesRECs
Real effective exchange rateRPI
Retail price indexSCBs
State-owned commercial banksSITC
Standard International Trade ClassificationSOE
Trade-Related Investment MeasuresTRIPs
Trade-Related Aspects of Intellectual Property RightsTSA
Treasury single accountTVEs
Town and village enterprisesULC
Unit labor costsUNCTAD
United Nations Conference on Trade and DevelopmentVAR
World Trade Organization