Pilgrim's progress

Article Abstract:

China's economy seems likely to slow to a 10% growth rate in 1995 from 11.8% in 1994, while inflation remains the chief problem for the central planners. The country's balance of trade improved remarkably after leaders effectively devalued the renminbi in early 1994. Exports rose 30% to $120 billion while imports rose 10% to $115 billion, replacing a $12.2 billion trade deficit with a $5.3 billion surplus. Chinese continue to save their money despite negative real returns, and consumer goods sales rose only 7% in 1994.

Statistics, Economic development

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Let the good times roll

Article Abstract:

China appears to be relaxing an economy austerity drive that it instituted with a tight monetary policy in 1993 to combat inflation. Statistics and anecdotal evidence suggest that some monetary easing is under way despite denials from the People's Bank of China. New loans increased by 14.6% in the banking sector during the first quarter of 1996. An easing of monetary policy will help move China's economy forward and help firms pay large inter-company debts.

Commercial Banks, Commercial Banking, Interest rates, Monetary policy

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