The Rise of China Heh-Song Wang

1. The Rise of ChinaHeh-Song Wang Ⅰ.Introduction Ⅱ.Recent Economic Developments Ⅲ.Balance of Payments Ⅳ.Financial Sector Reform Ⅴ.Development Issues and Challenges VI.Development Program and Economic Outlook

2. Ⅱ.Recent Economic Developments 1.Growth Remains Robust 2.Changing Sources of Growth 3.Price Stability Table 1 Domestic Economy

3. Ⅲ.Balance of Payments 1.Growing Market for the World 2.Increasing Trade Surplus 3.Strong Capital Inflows 4.World's Largest Foreign Exchange Reserves Table 2 External Trade

4. Table 3 Balance of Payments

5. Ⅳ.Financial Sector Reform 1.Financial Liberalization 2.Banking Reform 3.New Exchange Rate Policy Table 4 Financial Statistics

6. Table 5 Key Indicators of economic and Social Development to 2010 Source: Asian Development Bank, Asian Development Outlook, 2006.

7. Ⅴ.Development Issues and Challenges 1.Unbalanced Growth among Regions 2.Rural- Urban Income Disparity 3.Overcapacity in Certain Industries 4.Inefficient Use of Energy 5.Environmental Pollution Table 6 GDP and Per Capita GDP of Selected Provinces, 2004

8. Table 7 Per Capita Income of Urban and Rural Households Unit: PMB Yuan

9. VI. Development Program and Economic Outlook 1.Eleventh Five-Year Program 2.Macroeconomic Projections Table 8 Forecast Summary

10. Table 9 Actual and Projected GDP in US$ at 2005 PPPs