- Eswar Prasad
- Published Date:
- June 2004
© 2004 International Monetary Fund
Production: IMF Multimedia Services Division
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 Acronyms
Agricultural Bank of China
Association of South-East Asian Nations
Agreement on Textiles and Clothing
Bank of China
Capital adequacy ratios
China Banking Regulatory Commission
China Construction Bank
National Audit Office of the People’s Republic of China
Consumer price index
Enterprise income tax
JP Morgan Emerging Market Bond Index
Foreign direct investment
Gross domestic product
Global Trade Analysis Project
Industrial and Commercial Bank of China
International Labor Organization
Joint-stock commercial banks
Ministry of Labor and Social Services
National Bureau of Statistics
Nominal effective exchange rate
Net foreign assets
Newly industrialized economies
Organization for Economic Cooperation and Development
Ordinary least squares
People’s Bank of China
Producer price index
Purchasing power parity
Rural credit cooperatives
Real effective exchange rate
Retail price index
State-owned commercial banks
Standard International Trade Classification
Trade-Related Investment Measures
Trade-Related Aspects of Intellectual Property Rights
Treasury single account
Town and village enterprises
Unit labor costs
United Nations Conference on Trade and Development
World Trade Organization