China, People’s Republic
Gross domestic product (GDP) is the standard measure of the value of final goods and services produced by a country during a period minus the value of imports. This subset of Aggregate National Accounts comprises comprehensive statistics on gross domestic product (GDP) by presenting the three different approaches of its measure of GDP: output based GDP, expenditure based GDP and income based GDP. These three different measures of gross domestic product (GDP) are further detailed by transactions whereby: the output approach includes gross value added at basic prices, taxes less subsidies, statistical discrepancy; the expenditure approach includes domestic demand, gross capital formation, external balance of goods and services; and the income approach includes variables such as compensation of employees, gross operating surplus, taxes and production and imports. Gross domestic product (GDP) data are measured in national currency and are available in current prices, constant prices and per capita starting from 1950 onwards.
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.
The design of intergovernmental fiscal relations can help to ensure that tax and spending powers are assigned in a way to promote sustainable and inclusive economic growth. Decentralisation can enable sub-central governments to provide better public services for households and firms, while it can also make intergovernmental frameworks more complex, harming equity. The challenges of fiscal federalism are multi-faceted and involve difficult trade-offs. This synthesis paper consolidates much of the OECD’s work on fiscal federalism over the past 15 years, with a particular focus on OECD Economic Surveys. The paper identifies a range of good practices on the design of country policies and institutions related strengthening fiscal capacity delineating responsibilities across evels of government and improving intergovernmental co-ordination.
This dataset comprises statistics pertaining to pensions indicators.It includes indicators such as occupational pension funds’asset as a % of GDP, personal pension funds’ asset as a % of GDP, DC pension plans’assets as a % of total assets. Pension fund and plan types are classified according to the OECD classification. Three dimensions cover this classification: pension plan type, definition type and contract type.
This dataset includes pension funds statistics with OECD classifications by type of pension plans and by type of pension funds. All types of plans are included (occupational and personal, mandatory and voluntary). The OECD classification considers both funded and book reserved pension plans that are workplace-based (occupational pension plans) or accessed directly in retail markets (personal pension plans). Both mandatory and voluntary arrangements are included. The data includes plans where benefits are paid by a private sector entity (classified as private pension plans by the OECD) as well as those paid by a funded public sector entity. Data are presented in various measures depending on the variable: millions of national currency, millions of USD, thousands or unit.
Four decades of rapid economic expansion in China has generated enormous pressure on the environment, natural resources and public health. Alarming smog outbreaks during the 2010-13 period prompted the government to introduce a number of reforms to control air pollution, including a re-organisation of environmental institutions, improving the coordination and integrity of enforcement actions across levels of government, and the rolling out of a permit system for all stationary pollution sources. This paper reviews these recent developments, and discusses key remaining challenges. The paper complements two case studies on air quality policies in Korea and Japan, and a third case study on international regulatory cooperation on air quality in North America, Europe and North-East Asia.
In 2016, the People’s Republic of China removed its support prices for maize and started destocking its large public reserves of maize. This paper investigates what would happen if China were to also eliminate its support prices for rice and wheat and reduce its public stocks of these two commodities. The analysis examines domestic and international market impacts over the next ten years by comparing a baseline (or business-as-usual scenario) with three scenarios that each assume support prices are eliminated but incorporate different assumptions about China’s import policies. To account for the uncertainty about China’s actual stock levels, the baseline and three scenarios are conducted under a minimum and maximum stock level assumption. The results show that the impacts will be most pronounced during the first years when temporary public stocks are depleted, with strong drops in domestic prices and reduced production. Over the medium term, domestic prices are projected to recover but will remain below baseline levels. The analysis also shows that even though the actual size of stocks has no significant impact over the medium term, its impact can be substantial during the first years a new policy is implemented, which underscores the importance of transparency when reporting on stock levels and stockholding policies.
The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region.
The Outlook comprises three main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the economic outlook and macroeconomic challenges in the region. The second part consists of a special thematic chapter addressing a major issue facing the region. The 2020 edition of the Outlook looks at human capital development, with a special focus on education for the digital era. The digital era is bringing important new developments for businesses and the workforce. As success in the digital era will require a new set of skills, education systems will need to adapt. Emerging Asian countries need to address certain challenges including improving ICT infrastructure, enhancing capacity of teachers, adapting curricula, as well as enhancing the role of TVET and lifelong learning. The third part of the report includes structural country notes offering specific recommendations for each country.
China has surpassed the United States in patent applications and has become world leader. Strong patenting activity, however, did not lead to strong productivity growth. The delinking of patenting activity from productivity growth could be explained by quality and relevance issues. Although the number of patents has been soaring, few are genuine inventions. Relatively low utilisation rates of patents point to a low degree of relevance. This paper uses a representative survey of Chinese patenting firms to provide a detailed picture of the patenting landscape along the dimensions of geographical areas, detailed industrial sectors, traditional and modern industries as defined by the Chinese government, firm age, size and ownership. It also overviews government subsidies across firms. Transport equipment makers hold most patents per firm, followed by electronics manufacturers. State-owned firms spend more on R&D per patent, but hold fewer patents per researcher than private or foreign-invested firms. High patenting performance and government support are not necessarily linked to high utilisation of patents. Smaller, younger and private firms expect a higher return on their patents and so do exterior design patent holders. Furthermore, the paper examines what drives patenting activity. Higher R&D spending by the firm and higher share of researchers in its workforce tend to be associated with higher patents per employee. Smaller and older firms tend to patent more, and government support also appears to matter. Exterior design patents are associated with different firm characteristics: R&D intensity is lower and government support matters less. Most firms consider IPR protection insufficient and the share of firms having experienced patent infringement is the greatest among the largest firms. Many of them do not do anything once their rights are infringed as they do not expect effective remedy. Instead of patenting, which may not provide sufficient protection from imitators, they adopt other strategies like reaping the first mover advantage to market their goods or sign confidentiality agreements with their staff or contracts on commercial secrets.
This Working Paper relates to the 2019 Economic Survey of China (http://www.oecd.org/economy/china-economic-snapshot/).
Under Action 14, countries have committed to implement a minimum standard to strengthen the effectiveness and efficiency of the mutual agreement procedure (MAP). The MAP is included in Article 25 of the OECD Model Tax Convention and commits countries to endeavour to resolve disputes related to the interpretation and application of tax treaties. The Action 14 Minimum Standard has been translated into specific terms of reference and a methodology for the peer review and monitoring process. The minimum standard is complemented by a set of best practices.
The peer review process is conducted in two stages. Stage 1 assesses countries against the terms of reference of the minimum standard according to an agreed schedule of review. Stage 2 focuses on monitoring the follow-up of any recommendations resulting from jurisdictions' stage 1 peer review report. This report reflects the outcome of the stage 1 peer review of the implementation of the Action 14 Minimum Standard by the People's Republic of China.
Alors qu’elle entame son 13e plan quinquennal (2016-2020), la Chine voit son économie continuer de croître rapidement par rapport à d’autres pays. Bien que sa croissance ralentisse lentement, le PIB par habitant demeure bien parti pour atteindre un quasi-doublement entre 2010 et 2020. En conséquence, l’économie chinoise sera encore, dans un avenir prévisible, le principal moteur de la croissance mondiale.
Les investissements des entreprises ont été financés en grande partie par l’emprunt, grâce aux prêts bonifiés et aux garanties implicites dont bénéficient les entreprises publiques et d’autres entités du secteur public. Une réponse efficace aux sources de risques que sont l’endettement excessif des entreprises, les bulles immobilières et les investissements financés par l’emprunt sur les marchés d’actifs, aidera à maintenirla croissance sur une trajectoire durable.
La « nouvelle ère » chinoise a débuté avec une croissance vigoureuse et le produit intérieur brut (PIB) par habitant aura probablement doublé en 2020 par rapport à 2010, contribuant du même coup fortement à l'expansion de l'économie mondiale. L'accent a été mis davantage sur la qualité de la croissance plutôt que sur son rythme, et l'on relève à cet égard de premiers signes positifs. Des efforts ont été déployés pour stimuler la consommation intérieure et éviter une aggravation des déséquilibres macroéconomiques. Au cours de la période récente, le ralentissement de l'économie a été plus rapide que prévu, en partie du fait de la montée des tensions commerciales, ce qui a incité le gouvernement à adopter rapidement des mesures de relance pour soutenir la croissance.
The ASEAN+6 group comprises the ten countries of the Association of Southeast Asian Nations (ASEAN) and six other countries in the Asia-Pacific region: Australia, the People’s Republic of China (“China”), India, Japan, Korea and New Zealand. This group includes the world’s fastest-growing and most dynamic energy consumption centres. They are led by China, India and ASEAN, the emerging Asian economies, whose share of global energy demand is expected to reach 40% by 2040, up from only 20% in 2000.
Energy demand in the ASEAN+6 countries is set to take diverse paths. In India, for example, low per capita energy use and a high population growth rate indicate the potential for substantial energy demand growth. In Japan, by contrast, a declining population and increasing energy efficiencies are contributing to a continuous fall in energy consumption. Countries of the region also differ in their natural resource wealth and their levels of socio-economic and technological development.
These countries share common challenges, however, in ensuring the security of their energy supplies. Given their shared geographical location, they could help one another meet these energy security challenges by deepening regional co-operation.
This report starts by giving an overview of the energy security issues of the region. Subsequent chapters cover the key energy sectors of oil, natural gas and electricity. They identify the main energy security issues, including a high level of vulnerability to natural disasters and heavy dependence on imports of fossil fuels, which must pass through major global chokepoints. The report provides policy advice, primarily for the region’s developing countries, based on the emergency response systems and accumulated experience in energy security of the International Energy Agency and its member countries.
The People’s Republic of China is an important player in international markets for animal products, antibiotics, as well as in global efforts to combat antibiotic resistance (AMR). This paper reviews use of antibiotics and the emergence of AMR in Chinese food animal production. The rapid growth in food, animal production, and the relatively poor animal production conditions as well as increasing production intensity led to a sharp increase in antibiotic use in both absolute and relative terms. This trend, however, has been reversed by recent government policies and public awareness of AMR. Four government policies are particularly important in attempting to decrease the use of antibiotics: the imposition of maximum residue levels, establishing a list of permitted antibiotics, the proper use of antibiotics during the withdrawal period, and establishing a list of prescription-only antibiotics use in animal production. Antibiotic use in China is more than five times higher than the international average. One of the main reasons for the relative higher antibiotic usage is the widespread misuse associated with growth promotion in the feed and veterinary use on broiler and pig farms. The relatively low cost of antibiotics, estimated at 1% to 3% of production costs, encourages such excess use in livestock production, but alternatives are often not available and more costly. This paper recommends a mix of economic and regulatory approaches to control the overuse of antibiotics in livestock production and limit the rise in antimicrobial resistance.
The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region.
The update of the Outlook comprises three main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the economic outlook and macroeconomic challenges in the region. The second and third parts consist of special thematic chapters addressing a major issue facing the region. This update focuses on smart cities, discussing in particular smart city strategies and urban environmental risks.
China’s regions have been experiencing impressive growth over the past decades, but their potentials could be better exploited by creating a single product and labour market. Local protectionism increases transaction costs and hinders competition, thereby taking a toll on productivity. Administrative monopolies have long thrived and are hard to dismantle. Restrictions on the hukou and the fragmented pension system limit labour mobility. Local regulations aim at, among other things, securing the collection of local taxes, without which cities could not afford to offer the same public services to migrants as to urbanites. Hence, dismantling local regulations and creating a single product and labour market needs to go hand-in-hand with the reform of inter-governmental finances.
Recent measures on both the product and labour market front appear to aim at making up for the slow progress over the past decade or so. There are signs that these efforts are helping China’s regions at various levels to converge toward each other. Disparities are shrinking faster across provinces, compared to within provinces. Integration of product and labour markets will boost productivity over the medium-to long term by reducing transaction costs, but could potentially widen regional disparities, which are already relatively high. This will necessitate enhanced transfers and re-centralisation of the financing of spending in some key categories such as education and health. Policies to help catching up of laggard regions by better connectivity through infrastructure investment are bearing fruit, but such investments should be subject to rigorous cost-benefit criteria to enhance capital allocation efficiency and should take into account externalities. Notwithstanding significant disparities along multiple dimensions across provinces, inequalities, be it in terms of income, wealth or education, are actually most striking along the rural-urban dimension. The rural revitalisation strategy, a novel element of the 19th Party Congress outcomes, is expected to address this issue. The other recent strategy of nurturing the formation of city groups will also likely benefit rural areas in-between those cities.
This Working Paper relates to the 2019 OECD Economic Survey of China (http://www.oecd.org/economy/china-economic-snapshot/).
This report systematically examines the key points for natural gas liberalisation and regulatory reform in Europe and the United States over the past decades. It addresses market design, third-party access, capacity allocation, trading centre formation, pipeline tariff setting, and regulatory measures. In addition, the report analyses the transition process itself and identifies the related measures that can help national markets become more openly competitive. Based on these international experiences, the report then looks at the current situation of natural gas liberalisation in the People’s Republic of China, focusing on the importance of designing a suitable framework for the natural gas market by using best-policy tools.
The central goal of this report is to allow policy makers in China to benefit from international experiences to effectively promote the current liberalisation, the success of which will also greatly influence the global industrial development of gas.
This report is the result of a project involving relevant Chinese, European, and United States institutions under the overall oversight of the International Energy Agency.
The People’s Republic of China had the fastest growth in space cooling energy consumption worldwide in the last two decades, driven by increasing income and growing demand for thermal comfort. This report explores the principal trends and challenges related to this rapid growth, looking into existing market developments, policies, technology choices and occupant behaviour in buildings in China. It then looks at how cooling demand in buildings might evolve over the next decade to 2030 and considers what China can do to ensure greater cooling comfort without parallel growth in energy consumption and related emissions. The report recommends raising energy performance standards for cooling equipment, tapping into building design opportunities, and ensuring that “part time” and “part space” behaviour remains the principal cooling mode in buildings. These strategies, among others, will reduce the impact of rising cooling demand on China’s electricity system, unlocking benefits in terms of reduced power capacity investments, lower energy and maintenance costs, improved air quality, and greater access to cooling comfort.
China’s growth continues to slow, but it is still high by international standards and contributes about a quarter of global growth. The growth model based on capital accumulation has led to misallocation of capital and excess capacity in a number of industries as well as falling investment efficiency, dictating a slower pace for investment. The reining in of shadow banking, an important source of financing for local infrastructure projects and for the private sector, weighs further on investment. Investment has been financed by debt, fuelled by interest subsidies and implicit guarantees for state-owned enterprises and other public entities. Slower growth implies lower enterprise profits and lower ability to service their debt, which has been accumulated primarily by state-owned enterprises and has reached unsustainable levels. Slowing growth and swiftly enacted tax cuts also imply lower fiscal resources to make growth more inclusive. In the medium term, productivity gains and more inclusive policies could sustain growth. Local protectionism increases transaction costs and hinders competition and restrictions on the hukou and the fragmented pension system limit labour mobility.
The Economic Survey of China assesses the country’s recent macroeconomic performance and proposes policy measures to promote higher-quality growth. Policy recommendations relate to how to integrate product and labour markets and enhance inclusiveness.
SPECIAL FEATURES: SINGLE PRODUCT AND LABOUR MARKET; REGIONAL POLICIES FOR EFFICIENCY AND EQUITY
Reforming China’s grain policy could have significant implications for both domestic and international markets. China has begun to reform its price support policies for several commodities, replacing them with commodity specific area payments. The assessment of policy reform scenarios for grains, using two partial equilibrium models, show that China would maintain more than 80% of self-sufficiency in wheat and maize, and more than 95% in rice. The increase in its grain imports could increase international prices, in particular for wheat and rice. A gradual approach to reforming market price support with compensatory payments would smooth the potential impacts on domestic and world commodity markets, as well as on domestic farm income. While the reform of price support policies benefit consumers the most, more decoupled area payments could also have a greater impact on farm income without increasing the overall cost to society as well as environmental performance of agriculture. Lower costs of managing public grain stocks would equally reduce the budgetary cost of reforms.