China: Reform and Development in 1992-93. East Asia and Pacific Region Series

摘要

China's economy began a very strong expansion at the start of 1992, based on arevitalization of reform and a renewed emphasis on development. In the last eighteen months, growth has been running at a rate of 14 percent per annum. The paper reviews these recent economic developments, and provides a backdrop against which to assess the recent measures taken by the government to cool down the overheated economy. At the same time, these developments have added greater urgency to the need for deeper reforms, especially those reforms that will equip the government with the tools and institutions of macroeconomic management, and will create enterprises responsive to indirect economic levers. The paper therefore also reviews recent reforms in China, and addresses the main issues still to be faced to create an efficient market economy in China. (Copyright (c) 1993 The International Bank for Reconstruction and Development/The World Bank.)