In the past four decades, China has undertaken major reforms, which have led to rapid growth and a strong leadership position in the international economic environment, yet several challenges remain to be tackled to ensure sustainability of the outcomes.
China’s economy grew strongly in 2017, driven by expanding consumption, exports and services while near-term domestic risks to growth and domestic macroeconomic stability have receded according to the Annual Consultation Report on China published by the ASEAN+3 Macroeconomic Research Office (AMRO) today.
The 2017 Annual Consultation Report on China provides an assessment of the state of the Chinese economy in 2017, short-term economic outlook, risks and vulnerabilities facing the economy, and policy recommendations.
China’s non-financial corporate debt has reached record high.
Efforts to deleverage corporate debt in China should focus on reducing debt in several vulnerable sectors and financial institutions, says the ASEAN+3 Macroeconomic Research Office (AMRO) in its research published today.
This study examines the risks on the high corporate debt in China at both the macro and sectoral levels.
The Chinese economy grew faster than expected in the first half of 2017, while risks to growth and macroeconomic stability in the near-term have also diminished partly as a result of regulatory and policy measures to rein in overcapacity and leverage”, according to the preliminary assessment by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to the country during August 21 to September 1, 2017.
Joint-Seminar by the ASEAN+3 Macroeconomic Research Office (AMRO), Tsinghua University School of Economics and Management, National Institute for Fiscal Studies of Tsinghua University on “Rising Corporate Debt in China: Macro and Sectoral Risk Assessments”
In the short- and medium-term, a crisis originating from corporate indebtedness is unlikely to happen but concerted efforts are warranted to mitigate sectoral and financial stability risks, highlighted by distinguished panelists at a seminar held today in Beijing.
An AMRO mission led by Dr. Chaipat Poonpatpibul conducted this year’s Annual Consultation Visit to China. The team visited Beijing from June 27 to July 1 and Shenyang (Liaoning Province) from July 4 to 5. Dr. Junhong Chang, AMRO’s Director, and Dr. Hoe Ee Khor, AMRO’s Chief Economist, also joined the mission in Beijing.
