Abstract
In 2017, the gross domestic product (GDP) of China grew by 6.9%, an increase of 0.2 percentage points over the previous year (Fig. 1.1). The steady growth of economy continued to be consolidated. While the economic structure continues to be optimized, the continued stabilization of industrial production, the rapid growth of infrastructure investment and the rebound in the growth of imports and exports have become an important basis for steady economic growth in 2017. However, since 2015, some new features of the macro economy have emerged, such as the widened disparity between the growth rate of GDP and of industrial added value, between the growth of rate of profits of state-owned and private-owned enterprises, and between the growth rate of loan and investment. These not only indicate that the factors behind the promotion of economic growth are more complicated, but also that the prospects for economic growth are even more uncertain.
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Notes
- 1.
Research team of Center for Macroeconomic Research at Xiamen University: “China’s Macroeconomic Forecasting and Analysis—Spring 2016 Report”.
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In terms of dollar, exports grew by 7.9% in 2017, an increase of 15.6 percentage points over the previous year; imports increased by 15.9%, and the growth rate accelerated by 21.4 percentage points from the previous year. The trade surplus reached 422.54 billion U.S. dollars, reduced by 87.16 billion yuan over the previous year.
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Research team of Center for Macroeconomic Research, Xiamen University: “China’s Macroeconomic Forecasting and Analysis—Fall 2017 Report.”
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In January 2018, RMB loans increased by 2.9 trillion yuan, an increase of 877 billion yuan year-on-year. Among them, loans from non-financial companies and organizations increased by 1.78 trillion yuan, accounting for 61.4% of the total. Although the scale of loans to the real economy had expanded by 220 billion yuan over the previous year, its share had dropped by 15.5 percentage points from the same period of last year. In 2018, the scale of domestic loans is still greatly expanding, and the proportion of loans to the real economy is still falling sharply.
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Research team of Center for Macroeconomics Research, Xiamen University: “China’s Macroeconomic Forecasting and Analysis—Fall 2017 Report”.
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Center for Macroeconomic Research at Xiamen University. (2018). Review of China’s Macroeconomy in 2017. In: China's Macroeconomic Outlook. Current Chinese Economic Report Series. Springer, Singapore. https://doi.org/10.1007/978-981-13-1005-8_1
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DOI: https://doi.org/10.1007/978-981-13-1005-8_1
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