Yusuf, ShahidNabeshima, Kaoru2012-06-042012-06-042006978-0-8213-6509-0https://hdl.handle.net/10986/7049Over the past two decades China's growth has been rapid, social indicators have improved, and poverty levels have inched downward. However, widening inequality, increasing resource and financial imbalances, and growing environmental concerns provide China with daunting challenges in improving the quality of growth. The rapid growth that will remain China's principal vehicle for raising standards of living and reducing poverty will derive from urbanization, increased market efficiency, and improvement in the technological capability of Chinese firms. But although growth will be critically important, balance among income groups and sectors is likely to be vital for social stability. The needed measures to enhance the quantity and quality of social services and a more effective safety net for the poor will require a number of institutional changes, including a reform of intergovernmental fiscal relations. This report highlights the significance of the challenges facing China and suggests policies for achieving rapid, balanced, and sustainable growth.en-USCC BY 3.0 IGOACCOUNTINGAGGREGATE GROWTHAGRICULTURAL SECTORAGRICULTUREAIR POLLUTIONAVERAGE LEVELBANKING SECTORBANKING SECTOR REFORMSBANKING SYSTEMCAPITAL-LABOR RATIOCITY SIZECOMPETITIVENESSCURRENT PRICESDEBTDECENTRALIZATIONDECLINING POVERTYDEVELOPING COUNTRIESDEVELOPING WORLDDEVELOPMENT COUNTRIESDEVELOPMENT ECONOMICSDEVELOPMENT INEQUALITYDEVELOPMENT OUTCOMESDEVELOPMENT REPORTDEVELOPMENT STRATEGYDISTRIBUTION OF INCOMEEAST EUROPEEAST EUROPEANECONOMETRIC ANALYSISECONOMIC ACTIVITYECONOMIC CONDITIONSECONOMIC COOPERATIONECONOMIC DEVELOPMENTECONOMIC GROWTHECONOMIC OUTCOMESECONOMIC PERFORMANCEECONOMIC POLICYECONOMIC POWERECONOMIC REVIEWECONOMIC STRUCTUREECONOMICS RESEARCHELASTICITYEXCHANGE RATEEXPORTSFINANCIAL MARKETSFOREIGN TRADEGDPGDP PER CAPITAGINI COEFFICIENTGINI INDEXGLOBAL ECONOMYGLOBAL MARKETSGROSS DOMESTIC PRODUCTGROWTH PATTERNGROWTH PROSPECTSGROWTH RATEGROWTH RATESHEALTH CAREHOUSEHOLD INCOMEHOUSEHOLD INCOMESHOUSEHOLD WELFAREHOUSINGHUMAN DEVELOPMENTHUMAN RESOURCE MANAGEMENTINCOMEINCOME DIFFERENTIALSINCOME DISPARITIESINCOME DISTRIBUTIONINCOME INEQUALITYINCOMESINDUSTRIAL SECTORLABOR MARKETLABOR PRODUCTIVITYLARGE CITIESLIFE EXPECTANCYLOCAL AUTHORITIESLOCAL GOVERNMENTSLONG-TERM GROWTHMARGINAL PRODUCTMARGINAL RETURNMARKET IMPERFECTIONSMETROPOLITAN AREASMIGRATIONMUNICIPALMUNICIPALITIESNATIONAL ECONOMYNEW ENTRANTSOUTPUT GROWTHPATENTSPOLICY AREASPOLICY OPTIONSPOLITICAL STABILITYPOPULATION GROWTHPOVERTY HEADCOUNTPOVERTY LINEPOWER PARITYPRIVATE SECTORPURCHASING POWERRAPID GROWTHREDUCING POVERTYREGIONAL INEQUALITYRISING INEQUALITYRURAL AREASSKILLED WORKERSSOCIAL DEVELOPMENTSOCIAL SERVICESSTATE-OWNED ENTERPRISESSUBSIDIARYSURPLUS LABORSUSTAINABLE GROWTHTOTAL FACTOR PRODUCTIVITYTOTAL OUTPUTTRANSACTION COSTSTRANSPORTUNEMPLOYMENTURBAN AREASURBAN DEVELOPMENTURBAN ECONOMYURBAN GROWTHURBAN POORURBAN POVERTYURBAN SERVICESURBAN WORKERSURBANIZATIONVALUE ADDEDWAGESWATER USEWEALTHWORLD TRADE ORGANIZATIONWTOWorld Bank10.1596/978-0-8213-6509-0