People's Republic of China and ADB
ADB President Takehiko Nakao visited the People’s Republic of China (PRC) from 21 to 23 September. He discussed the ADB-PRC partnership with high-level officials, and visited low-carbon projects and businesses in Hunan Province.
Decelerating more than expected in the first eight months of 2015, gross domestic product (GDP) growth in the People’s Republic of China (PRC) is forecast to average 6.8% for the year. Recent growth moderation will likely be offset by a pickup in exports and consumption in the remainder of the year, says a new ADB report.
As long as the People's Republic of China continues to pursue market reforms it will remain the largest contributor to global economic growth, says ADB's Chief Economist Shang-Jin Wei.
More than 800,000 residents are benefiting from a project to clean up water, upgrade wastewater and solid waste treatment, and boost district heating in 10 small towns of Hebei Province, PRC.
Following 3 decades of exceptional economic growth, the People’s Republic of China (PRC) is now regarded as an upper middle-income country.
The PRC will focus on improving quality and efficiency, and give even greater priority to shifting the growth model and adjusting the structure of development. Development challenges include promoting economic development, protecting the environment, tackling regional disparity, and allowing the market to determine resource allocation. The PRC is aiming to, among others, deepen its public finance reform, improve the financial market, promote state-owned enterprises reform, and encourage greater private sector participation.
With a focus on innovation and value addition, ADB has combined its support for infrastructure with areas such as technical and vocational education and training, provision of municipal services, and environmental improvement.
Projects in the People's Republic of China
- Chemical Industry Energy Efficiency and Emission Reduction Project
- Henan Hebi Qihe River Environmental Improvement and Ecological Conservation Project
- Guizhou Vocational Education Development Program
- Policy Study on the Development of Intercity Railway in the Beijing-Tianjin-Hebei Region
- Qingdao Smart Low-Carbon District Energy Project
- Strengthening Capacity for Promoting Distributed Renewable Energy Utilization in Hebei Province
- Promotion of a Legal Framework for Financial Consumer Protection
- Policy and Management System Development for Rural Environmental Protection
- Daguhe Groundwater Rehabilitation and Protection
- Shandong Groundwater Allocation and Protection
- Strengthening Capacity for Implementing the New Energy City Program in Gansu Province
- Gansu Baiyin Urban Development II Project
- Public Finance Development Strategy 2020
- Logistics System Development for Agricultural Products
- Xinjiang Urban Transport and Environmental Improvement Project (formerly Xinjiang Urban Transport Infrastructure Development)
1,367.82(2014) Population in millions
0.5%(2009-2014) Average annual population growth rate
8.5%(2013) Population living below the national poverty line (Differs from standard definition; or refers to only part of the country)