Abstract
PEOPLE’S REPUBLIC OF CHINA
Title page
PEOPLE’S REPUBLIC OF CHINA
STAFF REPORT FOR THE 2022 ARTICLE IV CONSULTATION— INFORMATIONAL ANNEX
December 19, 2022
Prepared By
Asia and Pacific Department
(In consultation with other departments)
Contents
FUND RELATIONS
RELATIONS WITH OTHER INTERNATIONAL FINANCIAL INSTITUTIONS
CAPACITY DEVELOPMENT
STATISTICAL ISSUES
Fund Relations
(As of December 16, 2022)
Membership Status: Joined 12/27/45; Article VIII (December 1, 1996)
General Resources Account:
| SDR Million | % Quota | |
|---|---|---|
| Quota | 30,482.90 | 100.00 |
| Fund holdings of currency | 22,490.65 | 73.78 |
| Reserve position in Fund | 7,992.29 | 26.22 |
| Lending to the Fund | ||
| New Arrangements to Borrow | 151.81 |
| SDR Million | % Quota | |
|---|---|---|
| Quota | 30,482.90 | 100.00 |
| Fund holdings of currency | 22,490.65 | 73.78 |
| Reserve position in Fund | 7,992.29 | 26.22 |
| Lending to the Fund | ||
| New Arrangements to Borrow | 151.81 |
SDR Department:
| SDR Million | % Allocation | |
|---|---|---|
| Net cumulative allocation | 36,206.16 | 100.00 |
| Holdings | 38,417.43 | 106.11 |
| SDR Million | % Allocation | |
|---|---|---|
| Net cumulative allocation | 36,206.16 | 100.00 |
| Holdings | 38,417.43 | 106.11 |
Outstanding Purchases and Loans: None
Financial Arrangements:
| Type | Approval Date | Expiration Date | Amount Approved (SDR million) | Amount Drawn (SDR million) |
|---|---|---|---|---|
| Stand-by | 11/12/86 | 11/11/87 | 597.73 | 597.73 |
| Stand-by | 03/02/81 | 12/31/81 | 450.00 | 450.00 |
| Type | Approval Date | Expiration Date | Amount Approved (SDR million) | Amount Drawn (SDR million) |
|---|---|---|---|---|
| Stand-by | 11/12/86 | 11/11/87 | 597.73 | 597.73 |
| Stand-by | 03/02/81 | 12/31/81 | 450.00 | 450.00 |
Projected Payments to Fund (SDR million; based on existing use of resources and present holdings of SDRs):
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | 0.00 | 0.00 | 0.00 | 0.00 | |
| Charges/interest | 0.46 | 0.46 | 0.46 | 0.46 | |
| Total | 0.46 | 0.46 | 0.46 | 0.46 | |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | 0.00 | 0.00 | 0.00 | 0.00 | |
| Charges/interest | 0.46 | 0.46 | 0.46 | 0.46 | |
| Total | 0.46 | 0.46 | 0.46 | 0.46 | |
Exchange Arrangements:
China’s de facto exchange rate regime has been classified as “other managed” arrangement, effective March 3, 2022. The de jure exchange rate arrangement is managed floating with a view to keeping the RMB exchange rate stable at an adaptive and equilibrium level based on market supply and demand with reference to a basket of currencies to preserve the stability of the Chinese economy and financial markets. The floating band of the RMB’s trading prices is 2 percent against the U.S. dollar in the interbank foreign exchange market: on each business day, the trading prices of the RMB against the U.S. dollar in the market may fluctuate within a band of ±2 percent around the midrate released that day by China’s Foreign Exchange Trading System (CFETS). The People’s Bank of China (PBC) indicated that the RMB’s floating range would be changed in an orderly manner, based on the developments of the foreign exchange market and economic and financial situation. Within the trading band, banks may determine their RMB exchange rates to the U.S. dollar with their clients without any limit on the spread, based on market supply and demand (PBC No. 2014/188). On August 11, 2015, the PBC decided to further increase the flexibility of the RMB-to-USD exchange rate midrate quoting mechanism, thereby enhancing the market determination of RMB exchange rates, and giving market supply and demand an even greater role in exchange rate formation.
The CFETS publishes its exchange rate index (composed of 24 currencies since January 1, 2017, previously, 13 currencies), and other RMB indices based on the Bank for International Settlements (BIS) currency basket and the SDR currency basket.
China accepted the obligations of Article VIII, Sections 2, 3, and 4 of the Fund’s Articles of Agreement on December 1, 1996. China maintains an exchange system free of multiple currency practices and restrictions on payments and transfers for current international transactions. However, China has notified measures to the Fund, pursuant to procedures under the Executive Board Decision 144 (52/51), which apply to measures imposed solely for national or international security reasons.
While exchange controls continue to apply to most capital transactions, the use of renminbi in international transactions has expanded over time. Effective October 1, 2016, the RMB was determined to be a freely usable currency and was included in the SDR basket as a fifth currency, along with the U.S. dollar, the euro, Japanese yen, and the British pound.
Relations with other International Financial Institutions
World Bank: https://www.worldbank.org/en/country/china
Asian Development Bank: https://www.adb.org/countries/prc/main
Capacity Development
Table 1.
China: Summary of Capacity Development Activities, 2011–22 1/
The new Institute for Capacity Development (ICD) was formed from the merger of the former IMF Institute (INS) and Office of Technical Assistance Management (OTM) on May 1, 2012.
Table 1.
China: Summary of Capacity Development Activities, 2011–22 1/
| Department | Purpose | Date |
|---|---|---|
| Tax System Reform | ||
| FAD | Mission on Tax Gap Analysis | September 2011 |
| FAD | Micro-Simulation Models | December 2013 |
| FAD | Analysis of the Macroeconomic Impact of Tax Policy | March 2015 |
| FAD | Reforming the Personal Income Tax | October 2015 |
| FAD | The Future Design of Value-added Tax | September 2016 |
| FAD | Tax Policy for promoting entrepreneurship and employment | September 2017 |
| FAD | Social security contributions | March 2018 |
| FAD | VAT policy | September 2018 |
| FAD | Workshop on Microsimulation on Income Tax | November 2020 |
| FAD | Workshop on Value-added Tax | July 2021 |
| FAD | Workshop on Capital and Labor Income Taxation | October-November 2021 |
| Tax Administration Reform | ||
| FAD | Tax Policy And Administration | September 2011 |
| FAD | Tax Administration (Peripatetic Expert Visit 4 Of 5) | October 2011 |
| FAD | Tax Administration (Peripatetic Expert Visit 5 Of 5) | October 2011 |
| FAD | Large Taxpayer Compliance | October 2011 |
| FAD | Workshop on Practical Tax Analysis For Tax Officials | December 2012 |
| FAD | Large Taxpayer Administration | January 2013 |
| FAD | Tax Administration Follow-Up | April 2014 |
| FAD | Tax Collection Law Revision | May 2014 |
| FAD | Tax Collection Law Revision | July 2015 |
| LEG | Mission on Reforming Tax Collection Law | July 2015 |
| FAD | Reforming the Personal Income Tax | October 2015 |
| FAD | Improving Tax Compliance on ODI by Chinese Enterprises | October 2016 |
| FAD | Tax administration—outbound investment and Taxpayer services | October 2017 |
| FAD | Evaluate implementation of multi-year tax administration modernization | January 2018 |
| FAD | Tax administration—performance measurement | March 2018 |
| FAD | Tax administration--PIT | November 2018 |
| FAD | Workshop and report on tax modeling and analysis | April 2019 |
| FAD | Improving International and Domestic Taxpayer Compliance through Strengthened Services and Supervision | October 2020 |
| FAD | Administering the Value-added Tax on Cross-border Transactions | November-December 2020 |
| FAD | Improving Taxpayer Compliance through Strengthened Services and Supervision | October 2021 |
| FAD | International Practices in Compliance Risk Management and Data Management | November 2021 |
| FAD | Administering the Individual Income Tax on Offshore Transactions | December 2021 |
| Public Financial Management | ||
| FAD | High-level Dialogue on PFM Institutions | June 2011 |
| FAD | Medium-Term Expenditure Framework Seminar | November 2011 |
| FAD | Medium-Term Revenue Administration Program And Policies Discussion | June 2012 |
| FAD | High-Level Dialogue on PFM Institutions | November 2012 |
| FAD | Mission on Introducing Advanced Treasury Reforms | February 2013 |
| FAD | High-level Seminar on Fiscal Reforms | January 2014 |
| FAD | Mission on Modernization of Government Accounting | April 2014 |
| FAD | Mission on Medium Term Expenditure Frameworks | July 2014 |
| FAD | Expert visit on Treasury management (accounting) | September 2014 |
| FAD | Expert visit on Chart of Accounts Improvements | March 2015 |
| FAD | Expert visit on Treasury Management (cash management) | March 2015 |
| FAD | Mission on Strengthening Local Government Borrowing Reform | April 2015 |
| FAD | Mission on Accounting Modernization | November 2015 |
| FAD | Workshop on Medium-Term Expenditure Frameworks | April 2016 |
| FAD | Seminar and Case Study on Local Government Borrowing and Bond Market Development | April 2016 |
| FAD | Expert visit on Treasury – Central Bank Coordination | June 2016 |
| FAD | Workshop on Medium-term Expenditure Frameworks | April 2017 |
| FAD | Government accounting and financial reporting | April 2018 |
| FAD | Performance Budgeting | April 2019 |
| Statistics | ||
| STA | Workshop On Special Data Dissemination Standard | April 2011 |
| STA | Government Finance Statistics | May 2011 |
| STA | Data Work: SRFS Data Development for OFCs/ FSI Data Reporting | April 2012 |
| STA | Quarterly National Accounts | November 2013 |
| STA | Total Social Financing(TSF) Indicators/Monetary and Financial Statistics | March 2014 |
| STA | SDDS Assessment | August 2014 |
| STA | Data Work: Monetary Data Reported in SRF | September 2014 |
| STA | SDDS Assessment | December 2014 |
| STA | TSF/Monetary Data Reported in SRFs | March 2015 |
| STA | Multi-sector Mission: SDDS Metadata Development and Topical TA | June 2015 |
| STA | Quarterly National Accounts | March 2019 |
| Monetary Policy, Bank and financial Supervision, and AML/CFT | ||
| LEG | AML/CFT Legislative Drafting | March 2011 |
| LEG | Bank Resolution | May 2012 |
| MCM | Seminar on Article VIII of IMF’s Articles of Agreement | July 2017 |
| MCM | Securities Markets Supervision Workshop | September 2017 |
| MCM | Mission on Securities Market Supervision | March 2018 |
| MCM | Regulatory and Prudential Framework | August 2018 |
| MCM | Financial Sector Technical Assistance | September 2018 |
| MCM | Financial Sector Technical Assistance | November 2018 |
| MCM | Monetary Policy Implementation and Operations | January 2019 |
| MCM | Financial Sector Technical Assistance | January 2019 |
| MCM | Financial Sector Technical Assistance | April 2019 |
| MCM | Workshop on Sovereign Bond Futures Market | April 2019 |
| MCM | Indicator-based Framework for Systemic Risks Monitoring | May 2019 |
| Training | ||
| LEG | AML/CFT Legislative Drafting Mission | March 2011 |
| INS | Course on Macroeconomic Management and Financial Sector Issues | March 2011 |
| INS | Course on Macroeconomic Forecasting | April 2011 |
| INS | Government Finance Statistics Course at CTP | May 2011 |
| STA | Course on Government Finance Statistics | May 2011 |
| STA | Course on Government Finance Statistics | June 2011 |
| INS | BOP and IIP Course at CTP | June 2011 |
| STA | Course on Balance of Payments Statistics | October 2011 |
| INS | Monetary and Financial Statistics Course at CTP | November 2011 |
| STA | Participate in OECD-NBS Workshop on National Accounts | March 2012 |
| INS | FSI Course at CTP | September 2012 |
| MCM | Medium Term Debt Management Workshop | November 2012 |
| INS | BOP/IIP Course at CTP | April 2013 |
| MCM | Workshop on Capital Account Convertibility and Exchange Rate Policy | June 2013 |
| STA | SDDS Seminar | July 2013 |
| INS | Introductory Course on Monetary and Financial Statistics in CTP | September 2013 |
| STA | Quarterly National Accounts Seminar organized by NBS | November 2013 |
| ICD | Macroeconomic Management & Financial Sector Issues | January 2014 |
| MCM | Financial Statistics | March 2014 |
| MCM | Workshop on Financial Regulation and Supervision | March 2014 |
| ICD | Macroeconomic Management & Financial Sector Issues | March 2014 |
| MCM | Course on External and Systematic Financial Risks | July 2017 |
| ICD | Macroeconomic Diagnostics | September 2014 |
| INS | Financial Soundness Indications in CTP | September 2014 |
| STA | Seminar at Fund HQ for SAFE Officials on Experiences and Challenges in the Implementation of BPM6 | September 2014 |
| ICD | Macroeconomic Forecasting | October 2014 |
| STA | OECD/NBS Workshop on Sectoral Accounts (with STA participation) | December 2014 |
| ICD | Macroeconomic Management and Financial Sector Issues | March 2015 |
| MCM/STA | Total Social Financing Indicator | March 2015 |
| STA | Meeting: ECB Meeting with Delegation from China on Debt Securities & Data Issues | April 2015 |
| STA | Meeting: BIS Meeting with Delegation from China on Debt Securities & Data Issues | April 2015 |
| MCM | SDR Review/Operational Issues | June 2015 |
| ICD | Macroeconomic Forecasting | June/July 2015 |
| INS | Advanced Course on Monetary and Financial Statistics in CTP | August 2015 |
| STA | SAFE-Course on Compilation of Balance of Payments Statistics | September 2015 |
| ICD | Macroeconomic Diagnostics | September 2015 |
| STA | Balance of Payments Statistics | September 2015 |
| ICD/FAD | Fiscal Analysis and Forecasting | November 2015 |
| FAD/ICD | Course on Fiscal Analysis and Forecasting | December 2015 |
| STA | OECD/NBS China Workshop on National Accounts (with STA participation) | March 2016 |
| MCM | Sub-national Debt Market Development | April 2016 |
| MCM | Workshop on Securities Supervision | April 2016 |
| STA | Seminar on Cross-border Position Statistics and Challenges in the Implementation of New Data Initiatives | June 2016 |
| ICD | Macroeconomic Forecasting | June/July 2016 |
| ICD | Macroeconomic Forecasting – Advanced | July 2016 |
| ICD | Financial Sector Surveillance | June/July 2016 |
| MCM | Workshop on Enforcement and Market Surveillance | September 2016 |
| ICD | Dynamic Stochastic General Equilibrium Modeling | November 2016 |
| ICD | Dynamic Stochastic General Equilibrium Modeling – China | November 2016 |
| ICD | Financial Sector Surveillance | June 2017 |
| ICD | Macroeconomic Forecasting –advanced course | June 2017 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE Models | August – September 2017 |
| ICD | Dynamic Stochastic General Equilibrium Modeling – China | September 2017 |
| STA | Cross-border Position Statistics | September 2017 |
| ICD | Managing capital flows | March 2018 |
| ICD | Macro-Econometric Forecasting and Analysis | May-June 2018 |
| ICD | Fiscal Policy Analysis | June 2018 |
| ICD | Financial Sector Surveillance | June 2018 |
| ICD | Financial Development and Financial Inclusion | June-July 2018 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE models | August 2018 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE models(advanced) | August 2018 |
| MCM | Stress Testing and Systemic Risks I | October 2018 |
| ICD | Financial Programming and Policies | October 2018 |
| ICD | Inclusive Growth | December 2018 |
| MCM/ICD | Adapting Financial Supervision to New Financial Technologies | January 2019 |
| SPR | Debt Sustainability Framework in Low-Income Countries and Fund | February-March 2019 |
| MCM | Policies | March 2019 |
| ICD/MCM | Stress Testing and Systemic Risk II | April 2019 |
| ICD | Financial Markets and Instruments | April 2019 |
| ICD | Financial Sector Policies | May 2019 |
| MCM/ICD/LE | Macroeconomic Diagnostics | May 2019 |
| ICD | Managing Capital Flows | June 2019 |
| STA | Financial Sector Surveillance Debt Securities Statistics | June 2019 |
| ICD | Monetary & Fiscal Policy Analysis with DSGE Models-Advanced Workshop | September 2019 |
| ICD | Fiscal Sustainability | September 2019 |
| LEG | Current International Issues in Tax Law Design | September 2019 |
| MCM | Bank Restructuring and Resolution | September 2019 |
| ICD | Macroeconomic Diagnostics | October-November 2019 |
| STA | Cross-Border Position Training | November 2019 |
| ICD | Financial Programming and Policies | December 2019 |
| SPR | Virtual Workshop on Debt Sustainability Analysis and IMF Policies | July 2020 |
| MCM | Virtual Course on Stress Testing and Systemic Risk | September 2020 |
| ICD | Virtual Course on Macroeconomic Diagnostics | October 2020 |
| ICD | Economic Issues in Regional Integration (ERIv) | November 2020 |
| ICD | (Selected Issues in) Financial Sector Policies (FSSv) | November-December 2020 |
| SPR/ICD/LEG | Debt Sustainability Analysis and IMF Policies | December 2020 |
| ICD/MCM/LEG | Managing Capital Flows (MCFv) | December 2020 |
| ICD | Fiscal Policy Analysis (FPA) | December 2020 |
| LEG | Corporate and Household Insolvency (CHI) | January 2021 |
| ICD | Financial Markets and Instruments (FMI) | January 2021 |
| LEG | International Issues in Tax Law Design (TLWD) | March 2021 |
| MCM | Workshop on Regulation and Supervision of Issuers (RS) | April 2021 |
| ICD | Fiscal Frameworks (FF) | July 2021 |
| LEG | Implementing the International AML/CFT Standards (AMLS) | July 2021 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE Models(DSGE) | August 2021 |
| SPR | Webinar on Implications of RCEP and CPTPP for China | September 2021 |
| SPR/LEG | DSA AND IMF POLICIES WORKSHOP | September 2021 |
| MCM | Course on Bank Restructuring and Resolution | November 2021 |
| FAD | Financial Development and Financial Inclusion (FDFI) | November 2021 |
| STA | Statistics on International Trade in Goods and Services | November-December 2021 |
| MCM | Systemic Macro-financial Risk Analysis (MFRA) | November-December 2021 |
| FAD | Applying the Tax Administration Diagnostic and Assessment Tool (TADAT) | December 2021 |
| ICD | Managing Capital Flows | December 2021 |
| ICD | Financial Sector Policies (FSP) | January 2022 |
| ICD | Macroeconomic Diagnostics (MDS) | February 2022 |
| ICD | Financial Development and Financial Inclusion (FDFI) | March 2022 |
| ICD | Fiscal Sustainability (FS) | March 2022 |
| ICD | Debt Dynamics and Fiscal Adjustment Paths (Part 2) (DDFAP) | March 2022 |
| MCM | Selected Issues in the Regulation of Fintech (SIFR) | March 2022 |
| ICD | Macroeconometric Forecasting & Analysis (MFA) | April 2022 |
| ICD | Financial Markets and Instruments (FMI) | June 2022 |
| LEG | Implementing the International AML/CFT Standards (AMLS) | June 2022 |
| ICD | Nowcasting (NWC) | June-July 2022 |
| ICD | Macroeconomic Diagnostics (MDS) | August-September 2022 |
| SPR | Debt Sustainability Analysis and IMF Policies (DSA) | August-September 2022 |
| STA | Statistics in International Trade in Goods and Services (ITGS) | September 2022 |
The new Institute for Capacity Development (ICD) was formed from the merger of the former IMF Institute (INS) and Office of Technical Assistance Management (OTM) on May 1, 2012.
Table 1.
China: Summary of Capacity Development Activities, 2011–22 1/
| Department | Purpose | Date |
|---|---|---|
| Tax System Reform | ||
| FAD | Mission on Tax Gap Analysis | September 2011 |
| FAD | Micro-Simulation Models | December 2013 |
| FAD | Analysis of the Macroeconomic Impact of Tax Policy | March 2015 |
| FAD | Reforming the Personal Income Tax | October 2015 |
| FAD | The Future Design of Value-added Tax | September 2016 |
| FAD | Tax Policy for promoting entrepreneurship and employment | September 2017 |
| FAD | Social security contributions | March 2018 |
| FAD | VAT policy | September 2018 |
| FAD | Workshop on Microsimulation on Income Tax | November 2020 |
| FAD | Workshop on Value-added Tax | July 2021 |
| FAD | Workshop on Capital and Labor Income Taxation | October-November 2021 |
| Tax Administration Reform | ||
| FAD | Tax Policy And Administration | September 2011 |
| FAD | Tax Administration (Peripatetic Expert Visit 4 Of 5) | October 2011 |
| FAD | Tax Administration (Peripatetic Expert Visit 5 Of 5) | October 2011 |
| FAD | Large Taxpayer Compliance | October 2011 |
| FAD | Workshop on Practical Tax Analysis For Tax Officials | December 2012 |
| FAD | Large Taxpayer Administration | January 2013 |
| FAD | Tax Administration Follow-Up | April 2014 |
| FAD | Tax Collection Law Revision | May 2014 |
| FAD | Tax Collection Law Revision | July 2015 |
| LEG | Mission on Reforming Tax Collection Law | July 2015 |
| FAD | Reforming the Personal Income Tax | October 2015 |
| FAD | Improving Tax Compliance on ODI by Chinese Enterprises | October 2016 |
| FAD | Tax administration—outbound investment and Taxpayer services | October 2017 |
| FAD | Evaluate implementation of multi-year tax administration modernization | January 2018 |
| FAD | Tax administration—performance measurement | March 2018 |
| FAD | Tax administration--PIT | November 2018 |
| FAD | Workshop and report on tax modeling and analysis | April 2019 |
| FAD | Improving International and Domestic Taxpayer Compliance through Strengthened Services and Supervision | October 2020 |
| FAD | Administering the Value-added Tax on Cross-border Transactions | November-December 2020 |
| FAD | Improving Taxpayer Compliance through Strengthened Services and Supervision | October 2021 |
| FAD | International Practices in Compliance Risk Management and Data Management | November 2021 |
| FAD | Administering the Individual Income Tax on Offshore Transactions | December 2021 |
| Public Financial Management | ||
| FAD | High-level Dialogue on PFM Institutions | June 2011 |
| FAD | Medium-Term Expenditure Framework Seminar | November 2011 |
| FAD | Medium-Term Revenue Administration Program And Policies Discussion | June 2012 |
| FAD | High-Level Dialogue on PFM Institutions | November 2012 |
| FAD | Mission on Introducing Advanced Treasury Reforms | February 2013 |
| FAD | High-level Seminar on Fiscal Reforms | January 2014 |
| FAD | Mission on Modernization of Government Accounting | April 2014 |
| FAD | Mission on Medium Term Expenditure Frameworks | July 2014 |
| FAD | Expert visit on Treasury management (accounting) | September 2014 |
| FAD | Expert visit on Chart of Accounts Improvements | March 2015 |
| FAD | Expert visit on Treasury Management (cash management) | March 2015 |
| FAD | Mission on Strengthening Local Government Borrowing Reform | April 2015 |
| FAD | Mission on Accounting Modernization | November 2015 |
| FAD | Workshop on Medium-Term Expenditure Frameworks | April 2016 |
| FAD | Seminar and Case Study on Local Government Borrowing and Bond Market Development | April 2016 |
| FAD | Expert visit on Treasury – Central Bank Coordination | June 2016 |
| FAD | Workshop on Medium-term Expenditure Frameworks | April 2017 |
| FAD | Government accounting and financial reporting | April 2018 |
| FAD | Performance Budgeting | April 2019 |
| Statistics | ||
| STA | Workshop On Special Data Dissemination Standard | April 2011 |
| STA | Government Finance Statistics | May 2011 |
| STA | Data Work: SRFS Data Development for OFCs/ FSI Data Reporting | April 2012 |
| STA | Quarterly National Accounts | November 2013 |
| STA | Total Social Financing(TSF) Indicators/Monetary and Financial Statistics | March 2014 |
| STA | SDDS Assessment | August 2014 |
| STA | Data Work: Monetary Data Reported in SRF | September 2014 |
| STA | SDDS Assessment | December 2014 |
| STA | TSF/Monetary Data Reported in SRFs | March 2015 |
| STA | Multi-sector Mission: SDDS Metadata Development and Topical TA | June 2015 |
| STA | Quarterly National Accounts | March 2019 |
| Monetary Policy, Bank and financial Supervision, and AML/CFT | ||
| LEG | AML/CFT Legislative Drafting | March 2011 |
| LEG | Bank Resolution | May 2012 |
| MCM | Seminar on Article VIII of IMF’s Articles of Agreement | July 2017 |
| MCM | Securities Markets Supervision Workshop | September 2017 |
| MCM | Mission on Securities Market Supervision | March 2018 |
| MCM | Regulatory and Prudential Framework | August 2018 |
| MCM | Financial Sector Technical Assistance | September 2018 |
| MCM | Financial Sector Technical Assistance | November 2018 |
| MCM | Monetary Policy Implementation and Operations | January 2019 |
| MCM | Financial Sector Technical Assistance | January 2019 |
| MCM | Financial Sector Technical Assistance | April 2019 |
| MCM | Workshop on Sovereign Bond Futures Market | April 2019 |
| MCM | Indicator-based Framework for Systemic Risks Monitoring | May 2019 |
| Training | ||
| LEG | AML/CFT Legislative Drafting Mission | March 2011 |
| INS | Course on Macroeconomic Management and Financial Sector Issues | March 2011 |
| INS | Course on Macroeconomic Forecasting | April 2011 |
| INS | Government Finance Statistics Course at CTP | May 2011 |
| STA | Course on Government Finance Statistics | May 2011 |
| STA | Course on Government Finance Statistics | June 2011 |
| INS | BOP and IIP Course at CTP | June 2011 |
| STA | Course on Balance of Payments Statistics | October 2011 |
| INS | Monetary and Financial Statistics Course at CTP | November 2011 |
| STA | Participate in OECD-NBS Workshop on National Accounts | March 2012 |
| INS | FSI Course at CTP | September 2012 |
| MCM | Medium Term Debt Management Workshop | November 2012 |
| INS | BOP/IIP Course at CTP | April 2013 |
| MCM | Workshop on Capital Account Convertibility and Exchange Rate Policy | June 2013 |
| STA | SDDS Seminar | July 2013 |
| INS | Introductory Course on Monetary and Financial Statistics in CTP | September 2013 |
| STA | Quarterly National Accounts Seminar organized by NBS | November 2013 |
| ICD | Macroeconomic Management & Financial Sector Issues | January 2014 |
| MCM | Financial Statistics | March 2014 |
| MCM | Workshop on Financial Regulation and Supervision | March 2014 |
| ICD | Macroeconomic Management & Financial Sector Issues | March 2014 |
| MCM | Course on External and Systematic Financial Risks | July 2017 |
| ICD | Macroeconomic Diagnostics | September 2014 |
| INS | Financial Soundness Indications in CTP | September 2014 |
| STA | Seminar at Fund HQ for SAFE Officials on Experiences and Challenges in the Implementation of BPM6 | September 2014 |
| ICD | Macroeconomic Forecasting | October 2014 |
| STA | OECD/NBS Workshop on Sectoral Accounts (with STA participation) | December 2014 |
| ICD | Macroeconomic Management and Financial Sector Issues | March 2015 |
| MCM/STA | Total Social Financing Indicator | March 2015 |
| STA | Meeting: ECB Meeting with Delegation from China on Debt Securities & Data Issues | April 2015 |
| STA | Meeting: BIS Meeting with Delegation from China on Debt Securities & Data Issues | April 2015 |
| MCM | SDR Review/Operational Issues | June 2015 |
| ICD | Macroeconomic Forecasting | June/July 2015 |
| INS | Advanced Course on Monetary and Financial Statistics in CTP | August 2015 |
| STA | SAFE-Course on Compilation of Balance of Payments Statistics | September 2015 |
| ICD | Macroeconomic Diagnostics | September 2015 |
| STA | Balance of Payments Statistics | September 2015 |
| ICD/FAD | Fiscal Analysis and Forecasting | November 2015 |
| FAD/ICD | Course on Fiscal Analysis and Forecasting | December 2015 |
| STA | OECD/NBS China Workshop on National Accounts (with STA participation) | March 2016 |
| MCM | Sub-national Debt Market Development | April 2016 |
| MCM | Workshop on Securities Supervision | April 2016 |
| STA | Seminar on Cross-border Position Statistics and Challenges in the Implementation of New Data Initiatives | June 2016 |
| ICD | Macroeconomic Forecasting | June/July 2016 |
| ICD | Macroeconomic Forecasting – Advanced | July 2016 |
| ICD | Financial Sector Surveillance | June/July 2016 |
| MCM | Workshop on Enforcement and Market Surveillance | September 2016 |
| ICD | Dynamic Stochastic General Equilibrium Modeling | November 2016 |
| ICD | Dynamic Stochastic General Equilibrium Modeling – China | November 2016 |
| ICD | Financial Sector Surveillance | June 2017 |
| ICD | Macroeconomic Forecasting –advanced course | June 2017 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE Models | August – September 2017 |
| ICD | Dynamic Stochastic General Equilibrium Modeling – China | September 2017 |
| STA | Cross-border Position Statistics | September 2017 |
| ICD | Managing capital flows | March 2018 |
| ICD | Macro-Econometric Forecasting and Analysis | May-June 2018 |
| ICD | Fiscal Policy Analysis | June 2018 |
| ICD | Financial Sector Surveillance | June 2018 |
| ICD | Financial Development and Financial Inclusion | June-July 2018 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE models | August 2018 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE models(advanced) | August 2018 |
| MCM | Stress Testing and Systemic Risks I | October 2018 |
| ICD | Financial Programming and Policies | October 2018 |
| ICD | Inclusive Growth | December 2018 |
| MCM/ICD | Adapting Financial Supervision to New Financial Technologies | January 2019 |
| SPR | Debt Sustainability Framework in Low-Income Countries and Fund | February-March 2019 |
| MCM | Policies | March 2019 |
| ICD/MCM | Stress Testing and Systemic Risk II | April 2019 |
| ICD | Financial Markets and Instruments | April 2019 |
| ICD | Financial Sector Policies | May 2019 |
| MCM/ICD/LE | Macroeconomic Diagnostics | May 2019 |
| ICD | Managing Capital Flows | June 2019 |
| STA | Financial Sector Surveillance Debt Securities Statistics | June 2019 |
| ICD | Monetary & Fiscal Policy Analysis with DSGE Models-Advanced Workshop | September 2019 |
| ICD | Fiscal Sustainability | September 2019 |
| LEG | Current International Issues in Tax Law Design | September 2019 |
| MCM | Bank Restructuring and Resolution | September 2019 |
| ICD | Macroeconomic Diagnostics | October-November 2019 |
| STA | Cross-Border Position Training | November 2019 |
| ICD | Financial Programming and Policies | December 2019 |
| SPR | Virtual Workshop on Debt Sustainability Analysis and IMF Policies | July 2020 |
| MCM | Virtual Course on Stress Testing and Systemic Risk | September 2020 |
| ICD | Virtual Course on Macroeconomic Diagnostics | October 2020 |
| ICD | Economic Issues in Regional Integration (ERIv) | November 2020 |
| ICD | (Selected Issues in) Financial Sector Policies (FSSv) | November-December 2020 |
| SPR/ICD/LEG | Debt Sustainability Analysis and IMF Policies | December 2020 |
| ICD/MCM/LEG | Managing Capital Flows (MCFv) | December 2020 |
| ICD | Fiscal Policy Analysis (FPA) | December 2020 |
| LEG | Corporate and Household Insolvency (CHI) | January 2021 |
| ICD | Financial Markets and Instruments (FMI) | January 2021 |
| LEG | International Issues in Tax Law Design (TLWD) | March 2021 |
| MCM | Workshop on Regulation and Supervision of Issuers (RS) | April 2021 |
| ICD | Fiscal Frameworks (FF) | July 2021 |
| LEG | Implementing the International AML/CFT Standards (AMLS) | July 2021 |
| ICD | Monetary and Fiscal Policy Analysis with DSGE Models(DSGE) | August 2021 |
| SPR | Webinar on Implications of RCEP and CPTPP for China | September 2021 |
| SPR/LEG | DSA AND IMF POLICIES WORKSHOP | September 2021 |
| MCM | Course on Bank Restructuring and Resolution | November 2021 |
| FAD | Financial Development and Financial Inclusion (FDFI) | November 2021 |
| STA | Statistics on International Trade in Goods and Services | November-December 2021 |
| MCM | Systemic Macro-financial Risk Analysis (MFRA) | November-December 2021 |
| FAD | Applying the Tax Administration Diagnostic and Assessment Tool (TADAT) | December 2021 |
| ICD | Managing Capital Flows | December 2021 |
| ICD | Financial Sector Policies (FSP) | January 2022 |
| ICD | Macroeconomic Diagnostics (MDS) | February 2022 |
| ICD | Financial Development and Financial Inclusion (FDFI) | March 2022 |
| ICD | Fiscal Sustainability (FS) | March 2022 |
| ICD | Debt Dynamics and Fiscal Adjustment Paths (Part 2) (DDFAP) | March 2022 |
| MCM | Selected Issues in the Regulation of Fintech (SIFR) | March 2022 |
| ICD | Macroeconometric Forecasting & Analysis (MFA) | April 2022 |
| ICD | Financial Markets and Instruments (FMI) | June 2022 |
| LEG | Implementing the International AML/CFT Standards (AMLS) | June 2022 |
| ICD | Nowcasting (NWC) | June-July 2022 |
| ICD | Macroeconomic Diagnostics (MDS) | August-September 2022 |
| SPR | Debt Sustainability Analysis and IMF Policies (DSA) | August-September 2022 |
| STA | Statistics in International Trade in Goods and Services (ITGS) | September 2022 |
The new Institute for Capacity Development (ICD) was formed from the merger of the former IMF Institute (INS) and Office of Technical Assistance Management (OTM) on May 1, 2012.
Statistical Issues
(As of December 16, 2022)
| I. Assessment of Data Adequacy for Surveillance | |
| General: While data is broadly adequate for surveillance, it is only barely so. Efforts at strengthening the statistical system and enhancing data transparency led to China’s subscription to the Special Data Dissemination Standard (SDDS) in October 2015. Nevertheless, China’s statistics continue to have significant gaps. The areas of concern relate mainly to national accounts data and government finance statistics. China has endorsed and is in the process of implementing the recommendations of the Data Gaps Initiative of the G20. | |
| National Accounts: The National Bureau of Statistics (NBS) compiles and disseminates annual GDP by activity and by expenditure in current prices, by activity at constant prices (2020), and quarterly estimates of GDP by activity at current and constant prices. The NBS is in a transition period from 1993 SNA to 2008 SNA. The 2008 SNA has been implemented in the calculation of financial intermediation services indirectly measured and in the capitalization of research and development. The techniques for deriving volume measures of some GDP components are not sound and need to be improved. Annual and quarterly GDP by expenditure is compiled at constant prices but is not published. Quarterly estimates of GDP are cumulative. Limited expenditure components’ contributions to GDP are available on a quarterly basis. The NBS has made several improvements to the range and quality of national accounts data, the most important being improving the exhaustiveness of the GDP estimates by activity. Further improvements are intended for both the annual and quarterly accounts; however, no target dates have been set. As in other countries, rapid economic change, including the expansion of the private sector, presents new problems for data collection and compilation. The ability to change the data collection systems is restricted by the decentralized nature of the statistical system. Monthly index of services production, and fixed investment indices are disseminated as ratios with respect to the corresponding month of the previous year, but no chain-linked indices are produced. Data revisions tend to be made without publishing the entire revised series. | |
| Price Statistics: The CPI covers approximately 500 areas throughout the country, including around 200 counties and around 300 cities. The national CPI is a composite of the CPIs calculated at the local and regional level, with approximately 2 million prices collected each month. The index is compiled using weights derived from the 2020 household expenditures. However, the weights are not published, which makes changes in the aggregate groups more difficult to interpret. The PPI is aggregated according to the 2020 production value weights for the industrial sector. Expansion of the coverage to include services activities should be considered. A purchaser price index reflecting input prices paid by Chinese producers is also disseminated with the PPI. The NBS publishes residential property price indices (RPPIs) for both new and second-hand properties in 70 large and medium cities. The indices are compiled following a basic mix-adjustment methodology (by size). These data are not aggregated to the national level. |
|
| Government Finance Statistics: Serious data shortcomings continue to make fiscal analysis difficult. Comprehensive data on the social security and extra budgetary funds are only provided annually and with a long lag. China currently reports GFS for general government with no breakdown of expenditure by economic type except interest, with no balance sheet data, but including data under the Classification of Functions of Government for the GFS yearbook. Expenditure classification remains in need of improvement, mainly because expenditures by economic type are not published. The authorities have indicated an intention to begin collecting these data and to develop accrual based measures of fiscal performance over the medium term while also strengthening the compilation of cash based GFS. China has made a commitment under the G20 Data Gaps Initiative to develop quarterly general government data; however, little progress has been made. General Government coverage excludes the operations of the local government financing vehicles (LGFVs) which are substantial. | |
| Monetary and Financial Statistics: In recent years, few improvements have been made in monetary and financial statistics. The monetary and banking surveys lack sufficient detail with regard to bank claims on the government, hampering the estimation of the fiscal deficit from the financing side. The reported net foreign assets position of PBC does not include exchange rate valuation effects and interest earnings on foreign reserves. The PBC has also ceased to report separate data on central government deposits in its balance sheet since April 2005 because the MOF no longer distinguishes between central and other government deposit accounts. The monetary and financial statistics missions in March 2015 made several recommendations for improvements in monetary data compilation with a view to accelerating PBC’s implementation of the standardized report forms (SRFs). The PBC is currently technically capable of compiling and reporting monetary statistics in the IMF-recommended format of SRFs at least for the central bank and other depository corporations. Nonetheless, reporting of SRFs has not yet begun pending internal review and approval processes. China reports data on some key series and indicators of the Financial Access Survey (FAS), including the two indicators (commercial bank branches per 100,000 adults and ATMs per 100,000 adults) adopted by the UN to monitor Target 8.10 of the Sustainable Development Goals (SDGs). | |
| Financial sector surveillance: China reports financial soundness indicators (FSIs) to the Fund for dissemination on the IMF’s website. In addition to the 13 core FSIs, the authorities included in early 2015 one additional encouraged FSI for deposit takers in their regular reporting to the Fund. The periodicity of data was also improved in May 2015 from annual to semi-annual frequency, and from semi-annual to quarterly frequency from the first quarter of 2019. | |
| External sector statistics: The historic data series (balance of payments starting with data for 2005:Q1 and international investment position (IIP) starting with data for 2011:Q1) are compiled (in U.S. dollars) largely in accordance with the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) and are disseminated in the IFS. Similar information is also available on the website of the State Administration of Foreign Exchange (SAFE). The authorities continue their efforts to improve external sector statistics, including participation in the IMF’s Coordinated Direct Investment Survey (CDIS) with data on inward and outward investment for both equity and debt instruments, Coordinated Portofilio Investment Survey (CPIS), and the Currency Composition of Foreign Exchange Reserves (COFER). China also compiles the International Reserves and Foreign Currency Liquidity Template (the Reserves Data Template). Remaining issues include (i) missing institutional sector breakdowns in balance of payments (BOP) and IIP and investment income breakdowns in the income account, (ii) persistent negative net errors and omissions in BOP, and (iii) a delay in reporting currency composition data in the Reserves Data Template. | |
| II. Data Standards and Quality | |
| China subscribed to the SDDS in October 2015. | No data ROSC has been conducted. |
| I. Assessment of Data Adequacy for Surveillance | |
| General: While data is broadly adequate for surveillance, it is only barely so. Efforts at strengthening the statistical system and enhancing data transparency led to China’s subscription to the Special Data Dissemination Standard (SDDS) in October 2015. Nevertheless, China’s statistics continue to have significant gaps. The areas of concern relate mainly to national accounts data and government finance statistics. China has endorsed and is in the process of implementing the recommendations of the Data Gaps Initiative of the G20. | |
| National Accounts: The National Bureau of Statistics (NBS) compiles and disseminates annual GDP by activity and by expenditure in current prices, by activity at constant prices (2020), and quarterly estimates of GDP by activity at current and constant prices. The NBS is in a transition period from 1993 SNA to 2008 SNA. The 2008 SNA has been implemented in the calculation of financial intermediation services indirectly measured and in the capitalization of research and development. The techniques for deriving volume measures of some GDP components are not sound and need to be improved. Annual and quarterly GDP by expenditure is compiled at constant prices but is not published. Quarterly estimates of GDP are cumulative. Limited expenditure components’ contributions to GDP are available on a quarterly basis. The NBS has made several improvements to the range and quality of national accounts data, the most important being improving the exhaustiveness of the GDP estimates by activity. Further improvements are intended for both the annual and quarterly accounts; however, no target dates have been set. As in other countries, rapid economic change, including the expansion of the private sector, presents new problems for data collection and compilation. The ability to change the data collection systems is restricted by the decentralized nature of the statistical system. Monthly index of services production, and fixed investment indices are disseminated as ratios with respect to the corresponding month of the previous year, but no chain-linked indices are produced. Data revisions tend to be made without publishing the entire revised series. | |
| Price Statistics: The CPI covers approximately 500 areas throughout the country, including around 200 counties and around 300 cities. The national CPI is a composite of the CPIs calculated at the local and regional level, with approximately 2 million prices collected each month. The index is compiled using weights derived from the 2020 household expenditures. However, the weights are not published, which makes changes in the aggregate groups more difficult to interpret. The PPI is aggregated according to the 2020 production value weights for the industrial sector. Expansion of the coverage to include services activities should be considered. A purchaser price index reflecting input prices paid by Chinese producers is also disseminated with the PPI. The NBS publishes residential property price indices (RPPIs) for both new and second-hand properties in 70 large and medium cities. The indices are compiled following a basic mix-adjustment methodology (by size). These data are not aggregated to the national level. |
|
| Government Finance Statistics: Serious data shortcomings continue to make fiscal analysis difficult. Comprehensive data on the social security and extra budgetary funds are only provided annually and with a long lag. China currently reports GFS for general government with no breakdown of expenditure by economic type except interest, with no balance sheet data, but including data under the Classification of Functions of Government for the GFS yearbook. Expenditure classification remains in need of improvement, mainly because expenditures by economic type are not published. The authorities have indicated an intention to begin collecting these data and to develop accrual based measures of fiscal performance over the medium term while also strengthening the compilation of cash based GFS. China has made a commitment under the G20 Data Gaps Initiative to develop quarterly general government data; however, little progress has been made. General Government coverage excludes the operations of the local government financing vehicles (LGFVs) which are substantial. | |
| Monetary and Financial Statistics: In recent years, few improvements have been made in monetary and financial statistics. The monetary and banking surveys lack sufficient detail with regard to bank claims on the government, hampering the estimation of the fiscal deficit from the financing side. The reported net foreign assets position of PBC does not include exchange rate valuation effects and interest earnings on foreign reserves. The PBC has also ceased to report separate data on central government deposits in its balance sheet since April 2005 because the MOF no longer distinguishes between central and other government deposit accounts. The monetary and financial statistics missions in March 2015 made several recommendations for improvements in monetary data compilation with a view to accelerating PBC’s implementation of the standardized report forms (SRFs). The PBC is currently technically capable of compiling and reporting monetary statistics in the IMF-recommended format of SRFs at least for the central bank and other depository corporations. Nonetheless, reporting of SRFs has not yet begun pending internal review and approval processes. China reports data on some key series and indicators of the Financial Access Survey (FAS), including the two indicators (commercial bank branches per 100,000 adults and ATMs per 100,000 adults) adopted by the UN to monitor Target 8.10 of the Sustainable Development Goals (SDGs). | |
| Financial sector surveillance: China reports financial soundness indicators (FSIs) to the Fund for dissemination on the IMF’s website. In addition to the 13 core FSIs, the authorities included in early 2015 one additional encouraged FSI for deposit takers in their regular reporting to the Fund. The periodicity of data was also improved in May 2015 from annual to semi-annual frequency, and from semi-annual to quarterly frequency from the first quarter of 2019. | |
| External sector statistics: The historic data series (balance of payments starting with data for 2005:Q1 and international investment position (IIP) starting with data for 2011:Q1) are compiled (in U.S. dollars) largely in accordance with the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) and are disseminated in the IFS. Similar information is also available on the website of the State Administration of Foreign Exchange (SAFE). The authorities continue their efforts to improve external sector statistics, including participation in the IMF’s Coordinated Direct Investment Survey (CDIS) with data on inward and outward investment for both equity and debt instruments, Coordinated Portofilio Investment Survey (CPIS), and the Currency Composition of Foreign Exchange Reserves (COFER). China also compiles the International Reserves and Foreign Currency Liquidity Template (the Reserves Data Template). Remaining issues include (i) missing institutional sector breakdowns in balance of payments (BOP) and IIP and investment income breakdowns in the income account, (ii) persistent negative net errors and omissions in BOP, and (iii) a delay in reporting currency composition data in the Reserves Data Template. | |
| II. Data Standards and Quality | |
| China subscribed to the SDDS in October 2015. | No data ROSC has been conducted. |
Table 1.
China: Common Indicators Required for Surveillance
(As of December 16, 2022)
Any reserve assets that are pledged of otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Only 12-month growth rates are reported (price indices are not available).
Data on financing (foreign, domestic bank and domestic nonbank financing) and the economic classification of expenditures is not available.
The general government consists of the central (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Goods and services trade data are both provided monthly, with services trade data release slightly lagging goods trade data release.
For GNP, level data are available only on an annual basis.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).
Table 1.
China: Common Indicators Required for Surveillance
(As of December 16, 2022)
| Date of Latest Observation | Date Received | Frequency of Data9 | Frequency of Reporting9 | Frequency of Publication9 | |
|---|---|---|---|---|---|
| Exchange rates | Dec 2022 | Dec 2022 | D | D | D |
| International reserve assets and reserve liabilities of the monetary authorities1 | Nov 2022 | Dec 2022 | M | M | M |
| Reserve/base money | Nov 2022 | Dec 2022 | M | M | M |
| Broad money | Nov 2022 | Dec 2022 | M | M | M |
| Central bank balance sheet | Nov 2022 | Dec 2022 | M | M | M |
| Consolidated balance sheet of the banking system | Nov 2022 | Dec 2022 | M | M | M |
| Interest rates2 | Dec 2022 | Dec 2022 | D | D | D |
| Consumer price index3 | Nov 2022 | Dec 2022 | M | M | M |
| Revenue, expenditure, balance and composition of financing4—general government5 | 2021 | Aug 2022 | A | A | A |
| Revenue, expenditure, balance and composition of financing4—central government | Oct 2022 | Nov 2022 | M | M | M |
| Stocks of central government and central government-guaranteed debt6 | 2022Q2 | Sep 2022 | Q | Q | Q |
| External current account balance | 2022Q3 | Nov 2022 | Q | A, Q | A, Q |
| Exports and imports of goods and services7 | Nov 2022 | Dec 2022 | M | M | M |
| GDP/GNP8 | 2022Q3 | Oct 2022 | A, Q | A, Q | A, Q |
| Gross external debt | 2022Q3 | Nov 2022 | A, Q | A, Q | A, Q |
| International investment position | 2022Q3 | Nov 2022 | A, Q | A, Q | A, Q |
Any reserve assets that are pledged of otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Only 12-month growth rates are reported (price indices are not available).
Data on financing (foreign, domestic bank and domestic nonbank financing) and the economic classification of expenditures is not available.
The general government consists of the central (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Goods and services trade data are both provided monthly, with services trade data release slightly lagging goods trade data release.
For GNP, level data are available only on an annual basis.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).
Table 1.
China: Common Indicators Required for Surveillance
(As of December 16, 2022)
| Date of Latest Observation | Date Received | Frequency of Data9 | Frequency of Reporting9 | Frequency of Publication9 | |
|---|---|---|---|---|---|
| Exchange rates | Dec 2022 | Dec 2022 | D | D | D |
| International reserve assets and reserve liabilities of the monetary authorities1 | Nov 2022 | Dec 2022 | M | M | M |
| Reserve/base money | Nov 2022 | Dec 2022 | M | M | M |
| Broad money | Nov 2022 | Dec 2022 | M | M | M |
| Central bank balance sheet | Nov 2022 | Dec 2022 | M | M | M |
| Consolidated balance sheet of the banking system | Nov 2022 | Dec 2022 | M | M | M |
| Interest rates2 | Dec 2022 | Dec 2022 | D | D | D |
| Consumer price index3 | Nov 2022 | Dec 2022 | M | M | M |
| Revenue, expenditure, balance and composition of financing4—general government5 | 2021 | Aug 2022 | A | A | A |
| Revenue, expenditure, balance and composition of financing4—central government | Oct 2022 | Nov 2022 | M | M | M |
| Stocks of central government and central government-guaranteed debt6 | 2022Q2 | Sep 2022 | Q | Q | Q |
| External current account balance | 2022Q3 | Nov 2022 | Q | A, Q | A, Q |
| Exports and imports of goods and services7 | Nov 2022 | Dec 2022 | M | M | M |
| GDP/GNP8 | 2022Q3 | Oct 2022 | A, Q | A, Q | A, Q |
| Gross external debt | 2022Q3 | Nov 2022 | A, Q | A, Q | A, Q |
| International investment position | 2022Q3 | Nov 2022 | A, Q | A, Q | A, Q |
Any reserve assets that are pledged of otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Only 12-month growth rates are reported (price indices are not available).
Data on financing (foreign, domestic bank and domestic nonbank financing) and the economic classification of expenditures is not available.
The general government consists of the central (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Goods and services trade data are both provided monthly, with services trade data release slightly lagging goods trade data release.
For GNP, level data are available only on an annual basis.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).