World Bank China Quarterly Update

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    ^czab Jdhi Cggkfm! Jmkokhn

    ~~~~czabjdhicznfh

    F@KHD T]DZRMZA[ ]\BDRM

    V]VRDKHKHN NZC^R@

    D|zka :

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    R`m F`khd T}dzrmza{ ]|bdrm zmwkm~v zmfmhr mfchcekf bmwmac|emhrv kh F`khd! }|bdrmv r`m

    mfchcekf c}racci dhb ad{v c}r im{ |cakf{ f`daamhnmv R`kv kvv}m ~dv |zcb}fmb j{ \`kak|

    Vf`maamimhv rdvi rmde amdbmz+ dhb Pkdcak ^dh! kh fcaadjczdrkch ~kr` Pkdcgdh Ak}! \`kak| CImmgm!

    Bm~mh ^dhn dhb Ekh _`dc! dhb }hbmz r`m cwmzdaa n}kbdhfm cg Iad}v Zc`adhb! V}b`kz V`mrr{!

    Jmzr @cgedh dhb Dzbc @dhvvch Fceemhrv dzm nzdrmg}aa{ dfihc~ambnmb gzce fc}hrz{

    mfchcekvrv kh r`m Mdvr Dvkd dhb \dfkgkf \cwmzr{ Zmb}frkch dhb Mfchcekf Edhdnmemhr ]hkr R`mrmde ~c}ab davc akim rc r`dhi Okdhtkhn F`mh! Rkdhv`} F`mh! Ak Ak! Ak C}{dhn dhb [dh ^dhn gcz

    v}||czr kh r`m |zcb}frkch dhb bkvvmekhdrkch cg r`kv zm|czr R`m gkhbkhnv! khrmz|zmrdrkchv! dhb

    fchfa}vkchv mp|zmvvmb kh r`kv zm|czr bc hcr hmfmvvdzka{ zmgamfr r`m wkm~v cg r`m Mpmf}rkwm

    Bkzmfrczv cg r`m ^czab Jdhi cz ncwmzhemhrv r`m{ zm|zmvmhr R`kv zm|czr rdimv khrc dffc}hr

    khgczedrkch dwdkadjam }| rc mhb cg Edzf` :

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    MPMF]RKWM V]EEDZ[

    ZMFMHR MFCHCEKF BMWMAC\EMHRV

    R`m F`khmvm mfchce{ kv kh r`m ekbvr cg d nzdb}da vac~bc~h D ~mdimz nacjda mfchcekf

    mhwkzchemhr dhb rkn`rmz bcemvrkf |cakfkmv fcejkhmb rc vac~ NB\ nzc~r` gzce 4

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    cg rzdbm ke|zcwkhn g}zr`mz! r`m v}z|a}v ~c}ab davc mp|dhb kh :

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    |zc|mzr{ edzimr! j}r ~c}ab |zmgmzdja{ jm v}jvrkr}rmb mwmhr}daa{ j{ edzimr%jdvmb emdv}zmv

    r`dr zdkvm r`m fcvr cg fd|krda dhb mp|dhb r`m zdhnm cg khwmvremhr c||czr}hkrkmv

    F`khdv achnmz rmze f`daamhnm kv rc fchrkh}m vrmmzkhn krv mfchce{ rc~dzbv d eczm v}vrdkhdjam

    |dr` Nkwmh r`m dhrkfk|drmb vrz}fr}zda vac~bc~h! r`kv ~c}ab khwcawm zmkhwknczdrkhn r`m

    }hbmza{khn bzkwmzv cg nzc~r` rc vmf}zm `mdar`{ |mz fd|krd khfcem nzc~r` Kh wkm~ cg r`mmfchcekf! vcfkda! mhwkzchemhrda dhb mprmzhda kejdadhfmv r`dr `dwm dffce|dhkmb zd|kb nzc~r`

    dhb vrz}fr}zda f`dhnm! r`kv ~c}ab davc khwcawm v}vrdkhkhn r`m chnckhn v`kgr kh gcf}v gzce r`m zdrm

    cg nzc~r` rc~dzbv r`m t}dakr{ cg bmwmac|emhr

    Emmrkhn r`mvm achnmz%rmze f`daamhnmv ~kaa j{ hc emdhv jm mdv{ Khbmmb! gm~ fc}hrzkmv `dwm

    edhdnmb b}zkhn r`m |cvr%~dz |mzkcb rc jzmdi r`zc}n` r`m nadvv fmkakhn r`dr d||mdzv rc akm

    jmr~mmh ekbbam dhb `kn`%khfcem vrdr}v Hm~ mggczrv fdh `ma| F`khd v}vrdkh krv fce|mrkrkwm

    dbwdhrdnm j{ |zcnzmvvkwma{ v`kgrkhn gzce ac~ fcvr rc `kn`mz wda}m v}||czrmb j{ khhcwdrkch Hm~

    d||zcdf`mv fdh davc `ma| v}vrdkh |cwmzr{ daamwkdrkch dv r`m zdrm cg |cwmzr{ zmb}frkch jmfcemv

    vrmdbka{ amvv vmhvkrkwm rc mfchcekf nzc~r` Vkekadza{! hm~ vrzdrmnkmv fdh `ma| edim nzc~r` nzmmh

    dhb |zcrmfr r`m mhwkzchemhr

    R`m 4:r` Gkwm%[mdz \adh v}||czrv r`mvm bkzmfrkchv dhb ad{v c}r dh dejkrkc}v dnmhbd cg vrz}fr}zda

    zmgcze R`m zmfmhr F`khd :

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    ZMFMHR MFCHCEKF BMWMAC\EMHRV

    R`m F`khmvm mfchce{ kv kh r`m ekbvr cg d nzdb}da vac~bc~h bzkwmh j{ d ~mdimz nacjda mhwkzchemhr dhb rkn`rmz

    bcemvrkf fchbkrkchv NB\ nzc~r` mdvmb ecbmvra{ gzce 4

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    :

    |zcnzmvv ~dv edbm kh zmfmhr echr`v r`zc}n` zmgcze dhb dbo}vremhr emdv}zmv kh fzkvkv fc}hrzkmv! mggczrv

    rc~dzbv d vrzchnmz M}zc Dzmd gkvfda ncwmzhdhfm gzdem~czi dhb r`m MFJv achn%rmze zmgkhdhfkhn c|mzdrkchv R`kv

    `dv `ma|mb mdvm nacjda gkhdhfkda edzimr vrzmvv dhb fchrzkj}rm rc dh ke|zcwmemhr kh mfchcekf vmhrkemhr [mr!

    edzimrv zmedkh vikrrkv` kh wkm~ cg r`m mamwdrmb bc~hvkbm zkviv dhb {kmabv ch r`m vcwmzmknh bmjr cg adznm `kn`%

    khfcem fc}hrzkmv akim V|dkh! Krda{ dhb Gzdhfm zmedkh mamwdrmb

    Gkn}zm 4 Nacjda Bmwmac|emhrv

    Dv kn`%khfcem mfchcekmv zmedkhmb ~mdi!

    bmwmac|khn mfchcekmv zmnkvrmzmb vac~mz nzc~r`

    Khb}vrzkda |zcb}frkch ecbmzdrmb

    vkhfm r`m vmfchb `dag cg :

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    F@KHDV MFCHCE[ VAC^MB NZDB]DAA[

    Nzc~r` Vcgrmhmb gzce Zd|kb \dfm

    R`m F`khmvm mfchce{ `dv zmnkvrmzmb vac~mz nzc~r` dndkhvr d jdfibzc| cg mprmzhda ~mdimhkhn dhb khrmzhda

    rkn`rmhkhn (Gkn}zm :+ Nzc~r` bmfmamzdrmb gzce 4

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    c}r|dfm v}||a{ R`kv rkn`rhmvv mdvmb vcem~`dr! mv|mfkdaa{ dachn fcdvrda dzmdv R`kv zmgamfrmb |zkedzka{ d vac~khn

    cg |zkwdrm vmfrcz me|ac{emhr! ~kr` me|ac{emhr kh r`m vrdrm%c~hmb vmfrcz zmedkhkhn zcj}vr

    Zmda ~dnm nzc~r` bmfmamzdrmb! mpfm|r dr r`m ac~mz mhb cg r`m adjcz edzimr Hcekhda ~dnm nzc~r` zmedkhmb

    nmhmzdaa{ zcj}vr! mwmh r`c}n` r`m vac~khn cg r`m mfchce{ fchrdkhmb }|~dzb |zmvv}zm b}zkhn r`m vmfchb `dag cg

    :

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    =

    Gkn}zm 6 Adjcz Edzimr Bmwmac|emhrv

    Z}zda khfcem nzc~r` zmedkhmb vrzchn Bmv|krm `kn` zdrmv cg z}zda khgadrkch (facvm rc 7 |mzfmhr+!

    hmr |mz fd|krd khfcemv vrkaa nzm~ j{ eczm r`dh 44 |mzfmhr Kh fchrzdvr! |mz fd|krd bkv|cvdjam

    khfcem cg }zjdh `c}vm`cabv nzm~ vcem 6 |mzfmhrdnm |ckhrv eczm vac~a{ R`kv zmgamfrmb d

    nzmdrmz vmhvkrkwkr{ cg }zjdh khfcemv rc r`m chnckhn vac~bc~h dv ~maa dv mp|dhbmb gkvfda

    Me|ac{emhr kh vmfchbdz{ vmfrcz vac~mb!

    edkha{ b}m rc edh}gdfr}zkhn

    ]zjdh adjcz edzimrv vcgrmhmb

    gzce gdkza{ rkn`r amwmav

    Zmda ~dnm nzc~r` nmhmzdaa{ bmfmamzdrmb!

    mpfm|r dr r`m ac~%mhb

    ^kr` vcakb |zcb}frkwkr{ nzc~r`!

    }hkr adjcz fcvrv zmedkhmb fchrdkhmb

    Kh fchrzdvr rc }zjdh c}vm`cabv! z}zda c}vm`cabv

    vd~ eczm zd|kb khfcem nzc~r`

    Eknzdrkch rc fcdvrda dzmdv fchrkh}mv! j}r khadhb

    eknzdrkch vmmev rc dwm |kfimb }|

    %4> 26 2< :7 :2 :=

    Mp|czrv (nhgv+ 602 62; :76 60 :7;

    Ke|czrv (nhgv+ :;7 :>: ::< :74 :72 :=2 :22

    NB\ |mz fd|krd (]VB+ :!727 6!242 6!>;; 2!622 =!66= =!;=> 7!00=

    Vc}zfm? HJV! FMKF dhb ^czab Jdhi vrdgg mvrkedrmv dhb gczmfdvrv

    Hcrmv?

    4# NB\ j{ mp|mhbkr}zm d||zcdf` jdvmb ch fchrzkj}rkchv bdrd |zcwkbmb j{ HJV kh :

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    4;

    mf`c t}kfia{ r`zc}n` Mdvr Dvkdv |zcb}frkch dhb rzdbm hmr~cziv! ~`mzmkh F`khd cff}|kmv dh

    khfzmdvkhna{ fmhrzda |cvkrkch R`m mp|czr nzc~r` va}e| cg r`m advr gm~ echr`v fc}ab jmfcem

    g}zr`mz dffmhr}drmb kg r`m g}hbdemhrdav cg `kn`%khfcem mfchcekmv bmrmzkczdrm g}zr`mz R`kv zkvi

    kv ekrkndrmb vcem~`dr! dr amdvr gcz F`khd! j{ r`m ke|dfr ch r`m rmzev cg rzdbm dv kh v}f`

    vfmhdzkc bmedhb gcz fceecbkrkmv ~c}ab bmfakhm eczm zd|kba{ dhb bm|zmvv |zkfmv Zmadrmba{!

    fceecbkr{ bmedhb ~c}ab mdvm kg memznkhn mfchcekmv (khfa}bkhn F`khd+ ~`kf` nmhmzdrm ecvr

    cg r`m nzc~r` kh cwmzdaa fceecbkr{ bmedhb ~mzm rc vac~ eczm r`dh mp|mfrmb Nkwmh r`mkz

    vmhvkrkwkr{ rc khb}vrzkda |zcb}frkch! emrda dhb mhmzn{ |zkfmv ~c}ab jm r`m ecvr w}ahmzdjam rc

    v}f` d vfmhdzkc

    Bcemvrkfdaa{! r`m bc~hvkbm zkviv dzm fmhrmzmb ch r`m chnckhn dbo}vremhr kh |zc|mzr{ edzimrv

    Vkhfm D|zka :R`mvm emdv}zmv zmgamfr d rzdbkhn cgg jmr~mmh r`m fcvr cg |zcwcikhn v`czr%rmze wcadrkakr{ kh

    |zc|mzr{ edzimrv dhb r`m jmhmgkr cg fchrdkhkhn r`m j}kar%}| cg w}ahmzdjkakrkmv ~`kf` fc}ab

    |zcb}fm d eczm fcvra{ dbo}vremhr bc~h r`m zcdb ^`kam bdrd zmedkh vfdhr! ecvr dwdkadjam

    khbkfdrczv famdza{ v}nnmvr r`dr d fczzmfrkch kv gkhdaa{ }hbmz ~d{

    R`m dbo}vremhr kh |zc|mzr{ edzimrv kv ~mafcem! j}r nkwmh r`m vknhkgkfdhfm cg r`m vmfrcz kh r`m

    cwmzdaa mfchce{! fchrkh}mb wknkadhfm ~kaa jm zmt}kzmb rc fchrdkh hmndrkwm v|kaacwmz mggmfrv R`m

    vmfrcz `dv ke|czrdhr akhidnmv rc }|vrzmde dfrkwkr{ v}f` dv fmemhr dhb vrmma Kr fdh khga}mhfm r`m

    gkhdhfmv cg khb}vrzkda mhrmz|zkvmv ~`kf` mhndnm kh |zc|mzr{ bmwmac|emhr dv d vkbm j}vkhmvv

    Acfda ncwmzhemhrv `dwm bmzkwmb edocz zmwmh}mv gzce r`m vdam cg adhb }vm zkn`rv rc |zc|mzr{

    bmwmac|mzv R`}v! d eczm de|akgkmb bc~hr}zh fc}ab `dwm hmndrkwm mfchce{%~kbm ke|dfrv

    Nkwmh r`m amhnr` dhb wdzkdjkakr{ cg |cakf{ adnv dhb }hfmzrdkhrkmv djc}r |cvvkjam fc}hrmz%

    khrmzwmhrkchv! r`m g}r}zm rzdomfrcz{ cg |zc|mzr{ |zkfmv zmedkhv }hfamdz

    ACHNMZ%RMZE @CZK_CH F@DZDFRMZK_MB J[ VRZ]FR]ZDA DBO]VREMHR

    Vrz}fr}zda Bmwmac|emhrv rc Bde|mh C}racci

    F`khdv nzc~r` |mzgczedhfm cwmz r`m advr r`zmm bmfdbmv ~dv hcr`khn v`czr cg ke|zmvvkwm ^kr`

    nzc~r` zdrmv dr dzc}hb 4< |mzfmhr |mz {mdz! F`khd memznmb dv r`m ~czabv vmfchb%adznmvr

    mfchce{ dhb r`m adznmvr mp|czrmz dhb edh}gdfr}zmz \mz fd|krd khfcem davc zcvm zd|kba{!

    daac~khn gcz r`m rzdhvkrkch gzce ac~%khfcem rc }||mz%ekbbam khfcem vrdr}v R`m |cwmzr{ zdrm gmaa

    bzdedrkfdaa{! akgrkhn cwmz `dag d jkaakch |mc|am c}r cg |cwmzr{

    ]zjdhkdrkch dhb edzimr zmgcze akmb dr r`m `mdzr cg F`khdv mfchcekf mp|dhvkch( Zd|kb

    }zjdhkdrkch rzdhvgczemb F`khd gzce d |zkedzka{ z}zda! dnzkf}ar}zda mfchce{ khrc dh khfzmdvkhna{

    }zjdh chm ~kr` d eczm bkwmzvkgkmb mfchcekf vrz}fr}zm R`m advr r`zmm bmfdbmv davc vd~ r`m

    rzdhvgczedrkch gzce d fceedhb%jdvmb mfchce{ rc d eczm bmfmhrzdakmb dhb edzimr%jdvmb

    v{vrme R`mvm r~c gdfrczv fcdamvfmb rc |zcb}fm adznm mggkfkmhf{ ndkhv dhb `dwm gdfkakrdrmb

    F`khdv memznmhfm dv d ~czab%fadvv fce|mrkrkwm |c~mz`c}vm

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