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China in the World Economy

The Domestic Policy Challenges

By Organization for Economic Cooperation and Development OECD

China in the World Economy analyzes the domestic policy challenges facing China in the context of trade and investment liberalization. After more than two decades of progress in market reforms and trade and investment liberalization, the entry of China into the World Trade Organization marks a new era for its integration into the world economy. Drawing on the experiences of OECD members over the past 50 years, and the WTO’s extensive work with non-member economies around the world, this landmark study provides readers with a comprehensive view of the interrelated domestic policy issues at stake and with specific recommendations as to actions to be taken. Topics include: Agricultural prospects and policies Rural industries Implications for the rural economy Overview of industry prospects Priorities for industry reorganization and restructuring Technology challenges for China’s industries Challenges to the banking industry The development of the insurance industry Prospects for the distribution sector Foreign direct investment: prospects and policies An OECD perspective on regulatory reform in China The role of competition law and policy Establishing effective governance for China’s enterprises Developing the financial system and financial regulatory policies Priorities for development of China’s capital markets Labor market and social benefit policies Environmental priorities for China’s sustainable development The current tax system and priorities for reform Public sector budget management issues Issues concerning central-local government fiscal relations China’s regional development: prospects and policies Macroeconomic policy priorities Summary of China’s commitments under WTO Summary of studies of the impact of WTO on China This publication is part of the OECD’s ongoing cooperation with non-member economies around the world.

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