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The world’s second-largest economy is helping drive the global recovery. But to sustain high growth and social cohesion, China needs to continue rebalancing its economy by boosting public spending on human capital and social services, and further reforming pensions and health care.
In a speech given in Beijing, Angel Gurría recommended that China boost public spending on social infrastructure, including education, health, pensions and social assistance, in order to reduce inequalities, and suggested a more flexible exchange rate regime to avoid looming inflationary pressures.
Country case studies of China, Japan, Netherlands, South Africa and the United States in measures that may hamper trade in steel scrap, recovered paper and plastic scrap, and if and how they could be removed without compromising environmental protection.
China’s economy has outperformed all expectations, both over the long haul and, more recently, during the global Great Recession. But structural reforms are still needed in a number of areas such as increased social spending to improve living standards over the longer run, according to the OECD Secretary-General.
Speaking at the China development forum, Mr Gurría said that the world is now emerging from the deepest recession since the 1930s but he added that OECD countries need to face the challenge of ensuring that a strong, jobs-rich recovery takes hold and that potential growth can be restored and maintained over the longer term.
This paper uses the OECD’s Going for Growth framework, as well as other available evidence linking policies to economic performance, to identify key structural policy challenges in the BIICS for the years ahead.
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Active with the People's Republic of China (Chinese version)
English, Excel, 7,894kb
This brochure provides a glimpse of the scope and depth of OECD work with China and highlights the great potential that lies ahead for future co-operation.
With ongoing migration of the younger cohorts to urban areas, the increase in the old-age dependency ratio will be even more pronounced in rural than in urban areas.
Despite progress in opening up the financial sector to international investors and in allowing domestic investors to invest abroad, liberalisation has been slow and in most market segments the foreign share remains very small.