China Economic Update, December 2017 : Growth Resilience and Reform Momentum
Gross domestic product (GDP) growth in China has remained strong in 2017, exceeding market expectations. Supported by risinghousehold incomes, the growth contribution of final consumption increased further this year. At the same time, the growth co...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2017
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/251111513688358803/China-Economic-Update-December-2017 http://hdl.handle.net/10986/29059 |
| Summary: | Gross domestic product (GDP) growth in
China has remained strong in 2017, exceeding market
expectations. Supported by risinghousehold incomes, the
growth contribution of final consumption increased further
this year. At the same time, the growth contribution of
fixed investment has declined notably. This was partly
driven by government efforts to limit local government
off-budget financing of public investment but also by weaker
private investment. The recovery in global trade has been an
important factor supporting economic activity in China in
2017. Net exports contributed positively to growth for three
consecutive quarters, compared to a negative contribution in
2015-2016. Owing to favorable global financial conditions,
as well as stricter implementation of capital controls and
greater domestic market confidence, capital outflows from
China declined to 47 billion US dollars in the first three
quarters of 2017, from 640 billion US dollars in 2016. The
Renminbi appreciated by 5.0 percent against the US dollar
over January-November 2017. |
|---|