ENGLISH

China’s Macroeconomic Outlook: Quarterly Forecast and Analysis Report, February 2014

By CMR of Xiamen University (auth.)

Book information

Publisher
Springer-Verlag Berlin Heidelberg
Year
2015
ISBN
978-3-662-45864-8, 978-3-662-45865-5
DOI
10.1007/978-3-662-45865-5
Language
english
Format
PDF
Filesize
2 MB (2394109 bytes)
Series
Current Chinese Economic Report Series
Edition
1
Pages
66\76
Time added
2015-02-17 02:00:00
Macroeconomics/Monetary Economics; Economic Growth

Description

​This book provides key insights into how to control local government debts and optimize the makeup of debts in China. The rapid growth of investment in infrastructure on the part of local governments has offset the slowdown of investment growth in manufacturing and real estate and maintained the growth rate of 7.7% in 2013. However, local governments’ debts have accumulated, which increases the risk of debt default and threatens the stability of China’s financial system. The research suggests that increasing the proportion of issuing bonds in total debts would be the first step toward eliminating the debt risk. Second, the Chinese government should play its part; and lastly, the government should relinquish its administrative control and monopoly in order to allow the service industry to further develop.

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