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However, as of December 2014, the People’s Bank of China "started to undo decades of financial repression" and the government now allows Chinese savers to collect up to a 3.3% return on one-year deposits. At China's 1.6% inflation rate, this is a "high real-interest rate compared to other major economies". [1]
The economic stimulus plan was seen as a success: While China's economic growth fell to almost 6% by the end of 2008, it had recovered to over 10% by in mid-2009. Critics of China's stimulus package have blamed it for causing a surge in Chinese debt since 2009, particularly among local governments and state-owned enterprises.
According to data from the National Bureau of Statistics of China, as of 2021, the gap in per capita disposable income between urban and rural residents in China is 2.57 times, and the income level of urban residents is significantly higher than that of rural residents. The economic development and industrial structure of urban areas are more ...
China’s youth unemployment figure, applying to those ages 16 to 24 without a job, hit a record high of 21.3% in June, the result of a slowing economy and a tighter job market in sectors like tech.
The new regulations affected Evergrande Group, China's second-largest property developer, and the Chinese real estate market as a whole. [5] In addition, the Chinese shadow banks, such as Sichuan Trust, have been greatly effected by the property sector crisis due to over lending and a crackdown on regulations. [6] [7]
The U.S. has drafted reports and held hearings on China's transnational repression by the United States–China Economic and Security Review Commission, Congressional-Executive Commission on China, United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party, etc. [39] [65]
Ronald Ian McKinnon (10 July 1935 – 1 October 2014) was an applied economist.His primary interests were international economics and economic development, with strong secondary interests in transitional economies and fiscal federalism.
China will revise its statistics law in a bid to fight persistent data fraud, the state-run Xinhua news agency said on Tuesday, amid scepticism about the reliability of data in the world's second ...