While China’s overall debt-to-GDP ratio is not particularly high, its non-financial corporate debt relative to GDP is higher than in other major economies.
A key priority in China’s "new normal" period -- where returns on investment are slackening -- is corporate governance, which could lead to enhanced productivity by a better management of resources at the firm level.
The share of the tertiary sector in China’s value added has increased steadily, overtaking the share of the secondary sector in 2013. With increasing incomes, the share of services is expected to grow further as at higher incomes a larger share of income is spent on services.
The extent of competition in product markets is an important determinant of economic growth in both developed and developing countries.
The unique OECD peer review process has helped improve public policy. It assesses how countries manage the design, adoption and enforcement of regulations according to a conceptual framework. It ensures comparability while taking account of institutional and cultural differences across countries.
This review highlights China’s advance to a market economy as among the greatest economic success stories of modern times. In simple terms, China has achieved in three decades what has taken most OECD countries a century or more.
This paper uses the OECD’s Going for Growth framework, as well as other available evidence linking policies to economic performance, to identify key structural policy challenges in the BIICS for the years ahead.
English, , 1,624kb
This is the executive summary and Chapter 1 of the report: Regulatory Reform in China: Defining the Boundary between the Market and the State, release 7 May 2009.
Chinese, , 2,149kb
This is the translation into Chinese of the executive summary and Chapter 1 of the OECD Review on Regulatory Reform in China: Defining the Boundary between the Market and the State, released in English on 7 May 2009.