China's Economy in Transformation under the New Normal

This book examines the recent development and prospect of the Chinese economy as the country adapts to changing domestic and external settings. After more than three decades of near double-digit annual expansion, the country's growth decelerated considerably to enter a new era of the so-called New Normal.

At the macro level, considerable amount of overhaul is required to improve governance and enhance regulatory effectiveness. These include monetary policy adjustment, financial sector development and taxation reforms.

As the Chinese government at both the central and local levels plays an important role in promoting growth, issues such as the role of local government and the reform of state-owned enterprises are examined in this book. Topics such as the development of private consumption and industrial upgrading are also assessed. The book discusses several matters considered important to China's social and economic cohesion including the management of agricultural product reserves, the development of a functioning social security system and regional development. To help project a long-term view of China's economic strength, the book also examines such factors as development in population and the labour market.

This book provides a comprehensive analysis of China's economy and identifies the recent developments that matter to China's economic future.

Contents:

• Introduction (Sarah Y TONG and WAN Jing)
• China's Economic New Normal (John WONG)
• China's Monetary Policy in Transition (Sarah CHAN)
• China Reforms Its Social Security System (LIN Shuanglin)
• Financial Sector Reforms (WAN Jing)
• Tax Reforms in China: Recent Initiatives and Concerns (QIAN Jiwei)
• The Development and the Governance of China's Housing Development (ZHOU Zhihua)
• Private Consumption and Economic Restructuring (CHEN Chien-Hsun)
• Agriculture: Circulation and Management of Grain Reserves (Jane DU)
• The Prospect of China's Renewed State-Owned Enterprise Reforms (Sarah Y TONG)
• Made in China 2025: A Grand Strategy for Industrial Upgrading (Sarah Y TONG and KONG Tuan Yuen)
• Regional Development in China under Xi Jinping (YU Hong)
• China's Population Policy and the Future of Its Labour Market (Jane DU)
• Population Ageing and Youth Drain — Impact on Growth (LU Ding)

Readership: Policymakers, academics, professionals, undergraduate and graduate students interested in China's economic transformation under the New Normal.
Key Features:

• Timely examination of China's recent developments and its prospects
• Comprehensive in coverage of major aspects of China's economy
• Written in an accessible manner and appeals to scholars and general readers