MARKET WATCH

TO THE POINT: The Asian Development Bank sees bullish prospects for the Chinese economy, though inactivity is building in the export and investment fields. China reaps a bumper harvest with grain output totaling 546.41 million tons in 2010 despite numerous natural disasters throughout the year. The Chinese Academy of Social Sciences has issued a note of caution about frothy house prices across the nation. Two Chinese Intemet companies, Youku and Dangdang, have staged successful debuts on the New York Stock Exchange.China boasts the third largest number of dollar millionaires in the world.     

No-Win Credit Situation

The People's Bank of China,the central bank,published a report on the execution of monetary policy in the second quarter,saying there aremany difficulties and challenges confronting the Chinese economy.Lu Zhengwei,a senior economist at Industrial Bank Co.Ltd.,examined the report and pointed out the excessive bank lending in the first half of this year may give rise to serious loan problems.He shared his view in the China Securities Journal.Edited excerpts follow     

MARKET WATCH

China is expected to reap a bumper harvest this autumn, but grain security remains a long-term concern Despite sweeping natural disasters China is on track to achieve a bounti ful harvest for this autumn's grain yield,which usually accounts fo three fourths of the annual output,said Minister of Agriculture Han Changfu.     

The Human Side of Poverty Alleviation

正Poverty shouldn't be a controversial subject, but it is. The World Bank, the World Health Organization, the U.S. State Department and pretty much every government in the world has a different definition of what poverty means. In China, absolute poverty is defined as 11 yuan a day; this is about $1.7. The World Bank disagrees and sets a higher number. In 2011 the U.S. considered people to be in poverty if their consumption was less than $21.7 a day. If that were the case, given inflation, almost all Chinese people outside of a few large cities would be in poverty. But living in China is different.     

MARKET WATCH

Foreign media slammed the Chinese Government's proposal that its ministries and agencies should purchase only Chinese products. But the government was forced to make such suggestion because domestic producers said they have been treated unfairly in bidding for government-supported projects. A World Bank report said China's economy was respectably sound during the first half of the year given the global financial meltdown. The country's fiscal revenue ended its sevenmonth decline and gained an encouraging 4....     

China and the World Bank: how a partnership was built

The World Bank has played an important role in China's economic transformation since the late 1970s. China used the World Bank well and the Bank was responsive to China's needs. The Bank did not recommend early or comprehensive market liberalization or privatization, as it did in some other transition economies, but supported China's pragmatic—learning-by-doing—approach to economic reform. It pushed at the margin for critical institutional and policy reforms, presenting perspective based on international experience, while providing technical assistance in numerous areas, often through Bank-supported projects. As the Chinese gained expertise, confidence and access to international capital markets, the role of the Bank in China inevitably shrank. China now uses the Bank mainly for selective technical, institutional and conceptual innovations for development. China and the World Bank both gained from their interaction.

China and the World Bank: how a partnership was built

All authors

Pieter Bottelier

*^* Pieter Bottelier is Sr. Adjunct Professor at Johns Hopkins University's School of Advanced International Studies (SAIS), where he teaches several courses on China's economy. He served as Chief of the World Bank's Resident Mission in China from 1993 to 1997. Helpful comments from Steven Dunaway, Jessica Einhorn, Parvez Hasan, Bert Hofman, Nicholas Hope, Ercheng Hwa, Shahid Husain, Edwin Lim, Stephen McGurk, Anthony Saich, Douglas Scott, Jinlin Yang and Jiayi Zou are gratefully acknowledged. The author is responsible for possible remaining errors.View all notes     

7.

Lending a Helping Hand to SMEs     

《北京周报(英文版)》2011,(32):34

Small and medium-sized enterprises (SMEs) play an integral role in China’s economy.About 99 percent of Chinese enterprises are SMEs which provide nearly 80 percent of job opportunities in urban areas and contribute 60 percent of the country’s GDP.Access of funds has long been a problem for Chinese SMEs as they are often considered too risky and banks prefer to lend to big companies,particularly reputable stateowned enterprises.But banks can do more to support SMEs,said Som Subroto,global head of SME Banking at Standard Chartered Bank in an article for Beijing Review.Edited excerpts follow.     

8.

Diagnosing the Financial Industry     

《北京周报(英文版)》2009,(21)

Heads of the nation's top economic and finance watchdogs gathered together at the Lujiazui Forum held in Shanghai on May 15-16.The forum,initiated in 2007 and aimed at becoming a Chinese version of the World Economic Forum in Davos,was themed "finance and economic growth in a globalized age" this year.High-level attendees included Zhou Xiaochuan,Governor of the People's Bank of China;Shang Fulin,Chairman of the China Securities Regulatory Commission(CSRC);Liu Mingkang,Chairman of the China Banking Regulator...     

9.

MARKET WATCH     

HU YUE 《北京周报(英文版)》2011,54(48):38-39

The World Bank forecasts a rosy prospect for the Chinese economy,despite a moderate slowdown in growth.The real estate market continues to cool,with an increasing number of cities experiencing price declines.China’s state-owned enterprises face a bumpy road ahead,with their profits shrinking quickly.The shipping giant COSCO is swimming in red ink due to tepid demands and overcapacity.China is expected to replace the United States as the world’s top e-commerce market by 2015.     

10.

Cash Injection Boosts The Real Economy     

Le An 《北京周报(英文版)》2021,64(29):30-31

正The cash amount that should be reserved for Chinese financial institutions,or the reserve requirement ratio(RRR),was lowered by 50 basis points starting July 15,excluding those that have already held the ratio at a low level of 5 percent. The measure,part of the financial sector's efforts to support the real economy,would release about 1 trillion yuan($154.24 billion) in long-term liquidity,the People's Bank of China(PBC),the central bank,said.     

11.

MARKET WATCH     

HU YUE 《北京周报(英文版)》2011,54(34):36-37

Bank lending turns lackluster in China as the country gears up to tame lingering inflation. Despite a weakened U.S. economy, China continues increasing its holdings of U.S. Treasury securities. State-owned enterprises are losing some momentum, as a result of cost inflation. Telecom equipment maker Huawei fares well, drawing strength from booming consumer device businesses. Chinese companies are expected to accelerate their pace of venturing overseas.     

12.

Ready for RMB Reform     

《北京周报(英文版)》2010,53(26):30-31

Now that the global recovery has taken hold and with the Chinese economy gaining ground,China's central bank-the People's Bank of China-has decided to proceed with reform of the renminbi(yuan)exchange rate regime and improve the flexibility.The central bank's spokesman on June 20 addressed a number of concerns over the issue in a statement posted on its website.Edited excerpts follow:     

13.

The Benefits of Oversaving     

《北京周报(英文版)》2009,(49)

China's high savings rate has long been considered a barrier to sustainable economic development. According to the People's Bank of China, China's savings ratio stood at 46 percent in 2009, much higher than the United States, Japan, the European Union and other major developed countries. The Chinese Government has been taking measures to stimulate consumption by lowering the savings ratio. Whether such efforts will pay off has yet to be seen. Wang Qing, Morgan Stanley's chief economist in China, offered his...     

14.

甘肃在利用世行贷款中存在的问题及对策研究   总被引：1，自引：0，他引：1  

王浩军 《甘肃理论学刊》2000,(6):57-59

世贸组织、国际货币基金组织、世界银行构成了世界经济的三大支柱。针对甘肃这样一个经济欠发达的省区来说 ,解决开发资金短缺问题至关重要。本文通过剖析甘肃在利用世行贷款中存在的问题 ,提出了世行贷款在甘肃大开发中良性运作的对策。     

15.

Transforming China's Banks: the IFC's experience     

《当代中国》2008,17(56):449-468

China's progress in fixing its banking system has surprised observers. Successful experiments, some of them involving foreign investors, have emerged in China to deal with the problems of the banking system. The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has played an active role in piloting some of these approaches in close cooperation with the regulator and other strategic investors. In the period 1995–2000, IFC's strategy was to work with one or two banks to help improve their governance and skills. The idea was to create some model banks which could be emulated by others and used by the regulators to introduce modern banking practices. Once the corporate governance and business practices of these banks improved, then the IFC was able to attract foreign banks to invest in these banks. These investments encouraged other foreign banks to consider taking minority stakes in the smaller banks. The success of these experiments gave confidence to the Chinese authorities to open up the big state-owned banks for foreign investment and encouraged big international banks to invest large sums of money to take minority stakes in the big banks. While progress in reform has been remarkable, the real and sustainable transformation of the Chinese banks is far from over and will be a lengthy process. Significant challenges such as improving corporate governance and credit risk management remain. Despite the significant opening of the banking system to foreign direct investment, foreign ownership in the Chinese banking system remains low by international standards. Even with existing limitations on foreign ownership, foreign strategic investors are contributing to the transformation of Chinese banks and their role remains highly relevant for the continued reform of the Chinese banking system.     

16.

关于开展开发银行中间业务的探讨     

覃坚全 《桂海论丛》2002,18(5):48-51

文章阐述了中间业务的概念和特点 ,对我国开发银行与国内外商业银行中间业务的发展水平进行了比较分析 ,提出了开发银行发展中间业务的一系列措施     

17.

Inspirations and Reflections     

《北京周报(英文版)》2009,(42)

On October 6,the Australia Reserve Bank increased its policy interest rate by 25 percentage points to 3.25 percent,the first central bank to do so after the outbreak of the financial crisis. Should China follow Australia in raising interest rates or adopt other policies to curb monetary inflation? Dr. MaJ un,chief economist for Greater China at Deutsche Bank,offered his insights in China Business News. Edited excerpts follow:     

18.

The Digital Yuan on The Daily Commute     

Matteo Giovannini 《北京周报(英文版)》2021,64(29):28-29

正The People's Bank of China has been stepping up promotion of the digital yuan,a so-called Central Bank Digital Currency that aims to replace some of the cash in circulation. It represents an argument that places the country at the feverish center of a hot debate engaging international government officials,economists,bankers and business executives alike. One crucial question remains: How will this digital currency fare in daily life?     

19.

中国海峡西岸经济区加大开发力度问题探讨     

李靖宇  张晶涛 《中国发展》2010,10(2):75-80

该文通过论证海峡西岸经济区加大开发力度的综合优势,对海峡西岸经济区加大开发力度的区域价值进行定位,分析了海峡西岸经济区加大开发力度的障碍因素,提出了海峡西岸经济区加大开发力度的推进对策。     

20.

世界银行扶贫贷款项目机构的满意度与期望值研究     

郭子仪 《贵州民族研究》2002,22(4):116-123

本文是关于中国西南扶贫世界银行贷款项目贵州项目区受益农户、业务局对世行扶贫项目机构的满意度、管理印象、期望值的调查结果的实证分析。调查结果显示 ,不同民族、不同文化者均表示出对项目机构较好的满意度、心理认同和较高的期望值。从中也说明 ,世界银行贷款扶贫项目机构的制度化、专业化、规范化职能体系和财务报帐机制是扶贫项目机构在五年的项目过程中项目受益地产生良好社会效益的根本原因之一。同时扶贫项目机构不仅造就一批高素质、极具敬业精神和现代管理意识的管理队伍 ,而且这一“财富”又将有助于推动这一世纪的国际社会主题———“相对贫困”的扶贫管理工作走向科学和高效化。所以 ,项目机构建设的研究应该是长期而艰巨的     

Lending a Helping Hand to SMEs

Small and medium-sized enterprises (SMEs) play an integral role in China’s economy.About 99 percent of Chinese enterprises are SMEs which provide nearly 80 percent of job opportunities in urban areas and contribute 60 percent of the country’s GDP.Access of funds has long been a problem for Chinese SMEs as they are often considered too risky and banks prefer to lend to big companies,particularly reputable stateowned enterprises.But banks can do more to support SMEs,said Som Subroto,global head of SME Banking at Standard Chartered Bank in an article for Beijing Review.Edited excerpts follow.     

Diagnosing the Financial Industry

Heads of the nation's top economic and finance watchdogs gathered together at the Lujiazui Forum held in Shanghai on May 15-16.The forum,initiated in 2007 and aimed at becoming a Chinese version of the World Economic Forum in Davos,was themed "finance and economic growth in a globalized age" this year.High-level attendees included Zhou Xiaochuan,Governor of the People's Bank of China;Shang Fulin,Chairman of the China Securities Regulatory Commission(CSRC);Liu Mingkang,Chairman of the China Banking Regulator...     

MARKET WATCH

The World Bank forecasts a rosy prospect for the Chinese economy,despite a moderate slowdown in growth.The real estate market continues to cool,with an increasing number of cities experiencing price declines.China’s state-owned enterprises face a bumpy road ahead,with their profits shrinking quickly.The shipping giant COSCO is swimming in red ink due to tepid demands and overcapacity.China is expected to replace the United States as the world’s top e-commerce market by 2015.     

Cash Injection Boosts The Real Economy

正The cash amount that should be reserved for Chinese financial institutions,or the reserve requirement ratio(RRR),was lowered by 50 basis points starting July 15,excluding those that have already held the ratio at a low level of 5 percent. The measure,part of the financial sector's efforts to support the real economy,would release about 1 trillion yuan($154.24 billion) in long-term liquidity,the People's Bank of China(PBC),the central bank,said.     

MARKET WATCH

Bank lending turns lackluster in China as the country gears up to tame lingering inflation. Despite a weakened U.S. economy, China continues increasing its holdings of U.S. Treasury securities. State-owned enterprises are losing some momentum, as a result of cost inflation. Telecom equipment maker Huawei fares well, drawing strength from booming consumer device businesses. Chinese companies are expected to accelerate their pace of venturing overseas.     

Ready for RMB Reform

Now that the global recovery has taken hold and with the Chinese economy gaining ground,China's central bank-the People's Bank of China-has decided to proceed with reform of the renminbi(yuan)exchange rate regime and improve the flexibility.The central bank's spokesman on June 20 addressed a number of concerns over the issue in a statement posted on its website.Edited excerpts follow:     

The Benefits of Oversaving

China's high savings rate has long been considered a barrier to sustainable economic development. According to the People's Bank of China, China's savings ratio stood at 46 percent in 2009, much higher than the United States, Japan, the European Union and other major developed countries. The Chinese Government has been taking measures to stimulate consumption by lowering the savings ratio. Whether such efforts will pay off has yet to be seen. Wang Qing, Morgan Stanley's chief economist in China, offered his...     

甘肃在利用世行贷款中存在的问题及对策研究

世贸组织、国际货币基金组织、世界银行构成了世界经济的三大支柱。针对甘肃这样一个经济欠发达的省区来说 ,解决开发资金短缺问题至关重要。本文通过剖析甘肃在利用世行贷款中存在的问题 ,提出了世行贷款在甘肃大开发中良性运作的对策。     

Transforming China's Banks: the IFC's experience

China's progress in fixing its banking system has surprised observers. Successful experiments, some of them involving foreign investors, have emerged in China to deal with the problems of the banking system. The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has played an active role in piloting some of these approaches in close cooperation with the regulator and other strategic investors. In the period 1995–2000, IFC's strategy was to work with one or two banks to help improve their governance and skills. The idea was to create some model banks which could be emulated by others and used by the regulators to introduce modern banking practices. Once the corporate governance and business practices of these banks improved, then the IFC was able to attract foreign banks to invest in these banks. These investments encouraged other foreign banks to consider taking minority stakes in the smaller banks. The success of these experiments gave confidence to the Chinese authorities to open up the big state-owned banks for foreign investment and encouraged big international banks to invest large sums of money to take minority stakes in the big banks. While progress in reform has been remarkable, the real and sustainable transformation of the Chinese banks is far from over and will be a lengthy process. Significant challenges such as improving corporate governance and credit risk management remain. Despite the significant opening of the banking system to foreign direct investment, foreign ownership in the Chinese banking system remains low by international standards. Even with existing limitations on foreign ownership, foreign strategic investors are contributing to the transformation of Chinese banks and their role remains highly relevant for the continued reform of the Chinese banking system.     

关于开展开发银行中间业务的探讨

文章阐述了中间业务的概念和特点 ,对我国开发银行与国内外商业银行中间业务的发展水平进行了比较分析 ,提出了开发银行发展中间业务的一系列措施     

Inspirations and Reflections

On October 6,the Australia Reserve Bank increased its policy interest rate by 25 percentage points to 3.25 percent,the first central bank to do so after the outbreak of the financial crisis. Should China follow Australia in raising interest rates or adopt other policies to curb monetary inflation? Dr. MaJ un,chief economist for Greater China at Deutsche Bank,offered his insights in China Business News. Edited excerpts follow:     

The Digital Yuan on The Daily Commute

正The People's Bank of China has been stepping up promotion of the digital yuan,a so-called Central Bank Digital Currency that aims to replace some of the cash in circulation. It represents an argument that places the country at the feverish center of a hot debate engaging international government officials,economists,bankers and business executives alike. One crucial question remains: How will this digital currency fare in daily life?     

中国海峡西岸经济区加大开发力度问题探讨

该文通过论证海峡西岸经济区加大开发力度的综合优势,对海峡西岸经济区加大开发力度的区域价值进行定位,分析了海峡西岸经济区加大开发力度的障碍因素,提出了海峡西岸经济区加大开发力度的推进对策。     

世界银行扶贫贷款项目机构的满意度与期望值研究

本文是关于中国西南扶贫世界银行贷款项目贵州项目区受益农户、业务局对世行扶贫项目机构的满意度、管理印象、期望值的调查结果的实证分析。调查结果显示 ,不同民族、不同文化者均表示出对项目机构较好的满意度、心理认同和较高的期望值。从中也说明 ,世界银行贷款扶贫项目机构的制度化、专业化、规范化职能体系和财务报帐机制是扶贫项目机构在五年的项目过程中项目受益地产生良好社会效益的根本原因之一。同时扶贫项目机构不仅造就一批高素质、极具敬业精神和现代管理意识的管理队伍 ,而且这一“财富”又将有助于推动这一世纪的国际社会主题———“相对贫困”的扶贫管理工作走向科学和高效化。所以 ,项目机构建设的研究应该是长期而艰巨的