China Economic Update, December 2017 : Growth Resilience and Reform Momentum

World Bank Group

World Bank, Washington, DC

关键词: ECONOMIC GROWTH;    MACROECONOMIC POLICY;    TRADE;    FISCAL TRENDS;    FISCAL POLICY;   

RP-ID  :  122114

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Gross domestic product (GDP) growth inChina has remained strong in 2017, exceeding marketexpectations. Supported by risinghousehold incomes, thegrowth contribution of final consumption increased furtherthis year. At the same time, the growth contribution offixed investment has declined notably. This was partlydriven by government efforts to limit local governmentoff-budget financing of public investment but also by weakerprivate investment. The recovery in global trade has been animportant factor supporting economic activity in China in2017. Net exports contributed positively to growth for threeconsecutive quarters, compared to a negative contribution in2015-2016. Owing to favorable global financial conditions,as well as stricter implementation of capital controls andgreater domestic market confidence, capital outflows fromChina declined to 47 billion US dollars in the first threequarters of 2017, from 640 billion US dollars in 2016. TheRenminbi appreciated by 5.0 percent against the US dollarover January-November 2017.