OUTSTRIPPING EXPECTATIONS

正The Chinese economy looks set to maintain stable and moderate growth in 2014 The National Bureau of Statistics (NBS) said on January 20 that in 2013,China’s GDP grew 7.7 percent to 56 trillion yuan($9.17 trillion),reaching the goal of 7.5 percent set by the Central Government at the beginning of the year.In short,the Chinese economy has continued to grow at a relatively quick pace.     

Understanding China's Forex Reserves

正Statistics issued by China’s central bank in early February revealed that China’s foreign exchange(forex)reserves stood at$2.9982 trillion at the end of January,a drop of$12.3 billion compared to the previous month.Upon receiving the data,some analysts expressed concern,claiming that China’s forex reserves had breached the psychological threshold of$3 trillion.     

ECONOMY

<正>Forex Reserves China’s foreign exchange (forex)reserves came in at more than$3.13trillion at the end of February,according to the State Administration of Foreign Exchange.The U.S.dollar index increased and the prices of global financial assets generally fell that month,affected by global macroeconomic data and monetary policy expectations of major economies.China’s forex reserves fell due to the combined effects of currency translation and asset price changes,according to the administra...     

A Dip in Growth

The People’s Bank of China(PBC),the country’s central bank,said that by the end of 2012 China had foreign exchange (forex) reserves totaling $3.31 trillion,the highest amount in the world.However,the country’s forex stash grew by only $130 billion,the lowest since 2004.     

Back to Expansion

China’s economy rebounds despite headwinds triggered by COVID-19 Recovering from the contraction caused by the novel coronavirus disease(COVID-19)epidemic,China’s economy saw a better-than-expected performance in 2020.The GDP expanded 2.3 percent year on year to101.59 trillion yuan($15.6 trillion),exceeding the100-trillion-yuan($15.42 trillion)mark for the first time.The per-capita GDP exceeded$10,000for two consecutive years,narrowing the gap with high-income countries,data from the National Bureau of Statistics(NBS)showed.     

China’s Economy in a Global Context

THE National Bureau of Statistics has released key figures on the Chinese economy in2014.As expected,China’s growth rate as measured by GDP was7.4 percent,the lowest since 2002.Over the past 15 years,China’s average annual GDP growth was 8.9 percent.The size of the Chinese economy has thus increased nearly eight fold from RMB 8.94 trillion(US$1.43 trillion)in 2000 to RMB 63.64 trillion(US$10.18 trillion)in 2014.China has created a true economic miracle.     

Full Steam Ahead

<正>The Chinese economy’s strong growth momentum in the first three quarters heralds a rosy picture for the whole of 2017 and the year to come China’s GDP grew at 6.9 percent year on year to 59.33 trillion yuan($8.96trillion)in the first three quarters of2017,according to the National Bureau of Statistics(NBS).     

Special Measures

The approval of 1.55 trillion yuan in China’sspecial bonds will help restructure financialmarket and monetary policy On June 29,after having beenapproved by the Standing Committee of the National People’s Congress (NPC), the Chinese Ministry of Finance announced that it would issue 1.55 trillion yuan in special bonds in order to buy$200 billion in foreign currency to fund China’s new overseas investment company.The interest rate of the book-entry treasurybonds is to be decided by the market.     

Slower Growth the ‘New Normal’

正Analysts predict that slower growth in China’s money supply will become increasingly common amid the country’s deleveraging efforts.The M2,a broad measure of money supply that covers cash in both circulation and deposits,rose 8.2 percent to 167.68 trillion yuan($26 trillion)at the end of 2017,according to     

Forex Forever? China should control the growth of its foreign reserve assets and improve their management

正China’s foreign exchange(forex)reserves surpassed$2 trillion in April 2009,and a mere five years later,the number dou-bled by the end of June.This figure accounts for a staggering one third of all forex reserves worldwide.The colossal size of China’s forex reserves has elicited commentary from the country’s     

SOUND AND STABLE

正A look at China’s macro economy in the new era China’s Gross Domestic Product(GDP) totaled 82.71 trillion yuan($12.84 trillion) in 2017,the first time it surpassed 80 trilion yuan,growing 6.9 percent year on year,the National Bureau of Statistics(NBS) said on January 18.     

Comforts and Concerns About Social Financing

The total social financing, China’s widest measure of credit, in the first half of 2013 reached 10.15 trillion yuan ($1.65 trillion), up 2.38 trillion yuan ($388 billion) from the same period last year, said the People’s Bank of China, the central bank, on July 13. Newly added yuan-denominated loans reached 5.08 trillion yuan ($828 billion), up 221.7 billion yuan ($36.1 billion) from the same period last year, accounting for 50 percent of the total social financing, 12.4 percentage points lower than     

UPWARD AND UNCHANGED

In an interview with Beijing Review reporter Tao Xing,Zhang Yansheng,principal researcher with the China Center for International Economic Exchanges,shared his assessments of China ’s macroeconomic landscape.Edited excerpts of his views follow:Priorities and forecasts Last year,China’s economic operation achieved relatively high growth with GDP reaching 114 trillion yuan($17.9 trillion),up 8.1 percent year on year.The progress was largely led by internal momentum.     

Riding the Innovation Wave

<正>Private equity(PE)investment in China has picked up momentum in tandem with the ongoing economic restructuring.Emerging sectors,providing better investment returns,have become the new pillars of the world’s second largest economy.The combined size of committed capital in all 52,403 PE and venture capital(VC)funds registered with the regulator topped12.28 trillion yuan($1.8 trillion)as of April,rising by 380 billion yuan($55.15 billion)     

Docking at the Land Of Prosperity

<正>The 18th Communist Party of China Central Committee’s Fifth Plenary Session in late October charted the course for the country’s economic and social development over the next fve years.The ruling Party’s proposal on China’s 13th FiveYear Plan(2016-20)adopted at the plenum reaffirmed the goal of building a moderately prosperous society by 2020.The proposed plan also put forward fve focal points for China’s development:innovation-driven,balanced,green,open     

Managing forex Reserves

China needs to ensure the security and profitability of its assets China is the world’s largest holder of foreign exchange(forex)reserves, which reached $3.31 trillion in 2012.The annual growth of its forex reserves alone would still place China     

State of the Market

Foreign TradeIn the first 10 months, China’s foreigntrade volume reached $1.42 trillion, up 24.1percent compared with the same period lastyear, according to statistics released by theGeneral Administration of Customs (GAC)(see graph 1). The trade surplus…     

Society

500 Million Farmers to Be Urbanized by 2020 The Institute for Urban and Environmental Studies (IUE) of the Chinese Academy of Social Sciences released The Annual Report on Urban Development of China (2012), also known as Blue Book of Cities in China. According to the report, at the projected annual growth of 0.8 to one percent, China’s     

A STEADY START TO THE YEAR

China’s first-quarter economic figures are in line with its restructuring aims It looks as though the Chinese economy will continue its stable growth trend this year.According to statistics released by the National Bureau of Statistics(NBS) on April 15,China’s GDP totaled 11.89 trillion yuan($1.9     

A New Chapter

<正>China’s development in the past five years has been great.Its GDP grew 11.2 percent on average annually to become the world’s second largest at 39.8 trillion yuan($6.05 trillion)last year and fiscal revenue rose to 8.31 trillion yuan($1.26 trillion)from 3.16 trillion yuan($481 billion).