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China Quarterly Update, November 2005 (English)

The note particularly discusses economic growth in China, which has been higher than expected, in part due to more rapid domestic demand growth. Reversing the pattern of the first half of 2005, domestic demand appears to have rebounded in the third quarter-reflecting both stronger investment and stronger consumption-while the contribution of net external trade declined. Recent developments point to a very slight moderation of growth in the coming year. Under current circumstances therefore, more rapid growth in credit and investment would be unwelcome. Changing the pattern of growth is high on the agenda. The 5th plenary session of the 16th Central Committee of the CPC held in October discussed changing China's pattern of growth, moving to growth that is less resource-intensive, to more "knowledge-driven" (that is, through higher efficiency), and more equally-shared opportunities.


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    East Asia and Pacific,

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    China Quarterly Update, November 2005

  • Keywords

    domestic demand;consumption;investment need;current account surplus;market failure;Oil and Gas Sector;change in exchange rate;real effective exchange rate;Oil and Petrochemical Company;State Owned Oil Companies;cost of health care;rapid growth in credit;household consumption;household survey data;retail sale;consumer price inflation;public health activity;public finance;credit growth;public health intervention;asset management company;efficiency of capital;exchange rate regime;Foreign Exchange Reserve;balance of payment;per capita income;domestic oil production;knowledge and innovation;asset management companies;raw material price;financial sector reform;medical savings account;oil price increases;price adjustment mechanism;allocation of capital;external trade;oil company;urban household;government health;domestic demand growth;weak corporate governance;oil product price;price of oil;machinery and equipment;foreign strategic investors;oil import costs;open foreign exchange;exchange rate risk;rural household income;Social Safety Nets;high oil price;exchange rate appreciation;health sector including;public health programs;amount of saving;current account balance;rural financial market;source of funding;gdp growth rate;vote of confidence;foreign exchange market;international commodity price;Poverty & Inequality;access to finance;government health expenditure;fuel price increase;intergovernmental fiscal system;fast economic growth;foreign exchange purchase;paying income tax;public health infrastructure;progressive tax rate;global income tax;health insurance market;central government spending;cost of care;international public offerings;household consumption expenditure;personal income tax;public health area;household expenditure survey;Financing of Education;scheme will;private sector company;local public health;exports of oil;interest rate differential;expenditure per capita;common quality standard;money market rate;corporate sector;monetary policy;retail price;national account;fuel tax;private consumption;urban health;promoting equity;bank lending;bank liquidity;tax system;plenary session;Capital Inflows;import growth;secured creditor;price pressure;worker claim;foreign interest;banking system;Dividend policies;reducing inequality;consumer goods;national saving;state enterprises;financial incentive;city hospital;macroeconomic data;public good;sales tax;foreign investor;Public Goods;international market;foreign bank;trade balance;tax measure;consumption tax;housing service;production side;relevant market;investment growth;public shareholder;state share;adverse selection;



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China Quarterly Update, November 2005 (English). Washington, D.C. : World Bank Group.