Download or read book Fiscal Policy and the Government Balance Sheet in China written by Mr. Waikei R Lam and published by International Monetary Fund. This book was released on 2023-08-04 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we present the most comprehensive estimates of China’s government balance sheet to date. Based on these estimates, we show how major shifts in fiscal policy over the last two decades have shaped the health of the public sector prior to the Covid-19 pandemic. We find that, at US$12.5 trillion, China has the largest stock of financial assets in the world. However, its net financial worth as a percent of GDP—though still higher than the large majority of countries—has declined over the last decade. This trend can be traced back to the turn of the century when China undertook a major restructuring of its state-owned enterprises but left important shortcomings in the intergovernmental fiscal system unaddressed. Compounding these risks, reform momentum stalled in the aftermath of the global financial crisis leading to high leverage and falling profitability among state-owned enterprises.
Download or read book China s National Balance Sheet written by Yang Li and published by Springer. This book was released on 2017-06-08 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the goal of perfecting the national governance system and raising the country’s governance capability, this book systematically analyzes the characteristics and trajectory of China’s economic expansion and structural adjustment, while also assessing a variety of short-term debt and long-term economic performance and financial risks. In addition to discussing the market-oriented reform process at the stage of economic development, institutional and structural characteristics, it presents research on the country as a whole, its residents, non-financial corporations, financial institutions and central banks, the central government, local government, and other external sectors. On the basis of extensive data, the book analyzes the national and sectoral balance sheets in China and explores a number of major issues the country is currently facing, such as sustainable development, government restructuring, local debt, welfare reform, openness and stability of the financial system, etc., as well as suitable policy measures and institutional arrangements for addressing them.
Download or read book China s National Balance Sheet 2015 Leverage Adjustment and Risk Management written by Yang Li and published by Springer. This book was released on 2018-03-22 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book aims at perfecting the national governance system and improving national governance ability. It evaluates the balance sheets of the state and residents, non-financial corporations, financial institutions and the central bank, the central government, local government and external sectors – the goal being to provide a systematic analysis of the characteristics and trajectory of China’s economic expansion and structural adjustment, as well as objective assessments of short and long-term economic operations, debt risks and financial risks with regard to the institutional and structural characteristics of economic development in market-oriented reform. It puts forward a preliminary analysis of China’s national and sectoral balance sheets on the basis of scientific estimates of various kinds of data, analyzes from a new perspective the major issues that are currently troubling China – development sustainability, government transformation, local government debt, welfare reform, and the financial opening-up and stability – and explores corresponding policies, measures, and institutional arrangements.
Download or read book The Government Budget and Fiscal Policy in Mainland China written by Katharine Huei-Ying Huang Hsiao and published by University of Washington Press. This book was released on 1987 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China s Return to Expansionary Fiscal Policy written by Shuanglin Lin and published by World Scientific. This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prepared by the East Asian Institute, NUS, which promotes research on East Asian developments particularly the political, economic and social development of contemporary China (including Hong Kong and Taiwan), this series of research reports is intended for policy makers and readers who want to keep abreast of the latest developments in China. Lin Shuanglin examines China's government budgetary condition, analyses the new expansionary fiscal policy, and discusses policy options.
Download or read book Fiscal Vulnerabilities and Risks from Local Government Finance in China written by Ms.Yuanyan Sophia Zhang and published by International Monetary Fund. This book was released on 2014-01-14 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: China weathered the global financial crisis better than most, thanks to a large and timely stimulus. This stimulus, however, was mainly in the form of off-budget infrastructure spending and thus not visible in the headline fiscal data. We construct a time series for the augmented fiscal deficit and debt—augmented to include off-budget activity—that better illustrates the counter-cyclical role of fiscal policy. The results also show that the augmented fiscal deficit and debt are both considerably higher than the headline government data suggest. Nonetheless, at around 45 percent of GDP, the augmented debt is still at a manageable level.
Download or read book Fiscal Policy in China written by Renqing Jin and published by . This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book that traces the evolution of China's fiscal policy and sums up the experience and lessons of implementing different modes of fiscal policy since the People's Republic of China was founded in 1949. It also looks ahead to the future trends of China's fiscal policy. The book analyzes China's fiscal policy since 1949 with a focus on the period after 1992, elaborates on the functioning mechanism of fiscal policy, and discusses in detail the backgrounds, major measures, and achievements of the moderately tight fiscal policy, proactive fiscal policy, and prudent fiscal policy. It also reviews the experience the Chinese government has accumulated in the process of practicing macro economic control through fiscal instruments, and forecasts the fiscal policy orientation in the years to come. This book is written for policy makers, researchers, entrepreneurs, businessmen, and all who desire a better understanding of China's fiscal policy.Also available in the Gale Virtual Reference Library (eBook).eBook pricing varies according to the size of your institution. Please contact us for details.eBook ISBN-13: 9789814253635Available Now
Download or read book China s Fiscal Policy written by Gao Peiyong and published by Routledge. This book was released on 2018-05-16 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy has always been a primary measure of macroeconomic control. The fiscal revenue and expenditure can influence the operation of the whole economic and social activities by changing the existing GDP distribution pattern, affecting the consumption and investment of enterprises and people, etc. Within the framework of macroeconomic analysis, this book reviews the evolution of China’s fiscal policy, and the main changes China’s economy has experienced since 1990s. To begin with, it makes an empirical research of China’s national debts, including their relationship with macroeconomic regulation and total social demand. Besides, it examines the economic effect mechanism of national debts issuance. Then it focuses on the taxation issues, elucidating the sources of tax revenue growth and the judgments on tax burden. The issue of tax reduction is also covered, especially its complexity in China. Lastly, it provides insights into China’s fiscal tendency, changes of macroeconomic policies, and financial operation in the context of the "New Normal". Scholars and students in economics, finance and Chinese economic studies will be attracted by this book. Also, it will appeal to readers interested in modern Chinese economic history.
Download or read book Fiscal Policy and Management in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2009-02-15 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing fiscal policy—the revenues and spending of an individual nation—is among the most challenging tasks facing governments. Wealthy countries are constrained by complex regulation and taxation policies, while developing nations often face high inflation and trade taxes. In this volume, esteemed economists Takatoshi Ito and Andrew K. Rose, along with other leading experts, examine the problems and challenges facing public finance in East Asian developing countries as well as the United States and Japan. Fiscal Policy and Management in East Asia explores the inefficient tax systems of many developing countries, the relationship between public and private sector economic behavior, and the pressing issue of future obligations that governments have undertaken to provide pensions and health care for their citizens. Featuring both overviews and analyses of the countries discussed, this book will be of value to economists and policymakers seeking to understand fiscal policy in a global context.
Download or read book Intergovernmental Fiscal Reform in China written by Mr.Philippe Wingender and published by International Monetary Fund. This book was released on 2018-04-13 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is the most decentralized country in the world in terms of expenditures shares, with subnational governments responsible for 85 percent of government spending. Limited revenue autonomy and insufficient intergovernmental transfers have led to large unfunded mandates and a build-up of debt outside the budget. The government has recently announced an ambitious intergovernmental fiscal reform, which will increase the role of the central government. Comprehensive reform is needed to improve public service delivery, increase overall social spending levels and reduce regional disparities. Revenue reforms are also necessary to improve efficiency and reduce vulnerabilities from excessive subnational borrowing. These reforms are challenging, but are crucial so that the government can support China’s continued development and prosperity.
Download or read book The Evolving Role of Fiscal Policy in Centrally Planned Economies Under Reform written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-03-31 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of “indirect” levers to regulate the behavior of increasingly autonomous economic agents. In this respect, fiscal policy becomes central and its macroeconomic role is enhanced. This paper studies the recent Chinese experience, reviewing fiscal developments and analyzing the effectiveness and appropriateness of available fiscal instruments in performing their newly enhanced macroeconomic role.
Download or read book Managing Financial Risks Amid China s Economic Slowdown written by Yang Li and published by Springer Nature. This book was released on 2019-10-01 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is based on the research concerning China’s National Balance Sheet (NBS) which is conducted by NIFD, the unique research groups in China focusing on NBS. The relative data have been quoted by the IMF, Chinese government sectors, influential investment banks at home and abroad. This book offers readers a unique edited work that systematically presents solutions to manage financial risk in the context of the current situation in China.
Download or read book Challenges for China s Public Spending written by Organisation for Economic Co-operation and Development and published by OECD. This book was released on 2006 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summary: The study draws extensively on Chinese government and other sources to provide a detailed and up-to-date picture of the current state of China's public expenditure policies, the main reforms that are being undertaken, and the problems that remain to be resolved. Topics covered: key characteristics of China's budget and recent trends; the allocation of spending; the uneven pattern of fiscal decentralization; gaps between expenditure needs and fiscal resources for local governments and their consequences.--Publisher summary.
Download or read book Fiscal Policy in China written by Roy W. Bahl and published by . This book was released on 1999 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book Professor Roy Bahl traces the history of the 1994 tax reform in China and evaluates its impact. The 1994 reform was the most systematic and comprehensive restructuring of China's revenue system. It covered the country's tax structure, tax administration, central-provincial fiscal relations, and provincial-local fiscal relations. In a concluding chapter, he examines possibilities for continuing taxation reform in China. Only a scholar with Professor Roy Bahl's extensive experience as adviser to developing countries on tax reform could have written a book with such breadth and depth. This book should be required reading for all students of economic development, comparative fiscal systems, or the Chinese economy.
Download or read book Transformation of the Fiscal and Taxation Systems written by Kang Jia and published by Palgrave Macmillan. This book was released on 2022-02-14 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book elucidates the murky realities of China's taxation system today, and advocates bold plans for change. Theorizing finance and taxation in relation to a national political system, the authors explain the current tangled-up realities of China's creaky, inherited and uneven tax system- and put forward a plan for radical change. This book will be of interest to finance professionals, economists, and scholars of the Chinese economy. The focus is to properly handle the three basic economic and social relations between the government and the market (and the enterprises as the main market entities), between the central and local governments, and between the public power system and the citizens. This book follows the research context of problem orientation – goal orientation - practical operation, and puts forward the ideas, basic goals and paths of fiscal system reform that adapt to the modernization of national governance.
Download or read book Resolving China s Corporate Debt Problem written by Wojciech Maliszewski and published by International Monetary Fund. This book was released on 2016-10-14 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain.
Download or read book Government Finance Statistics Manual 2014 written by Mrs.Sage De Clerck and published by International Monetary Fund. This book was released on 2015-03-10 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.
