People's Republic of China and ADB
In the Spotlight
Investor sentiment toward emerging East Asia’s local currency bond markets has improved but there are persistent concerns about financial stability in the region, including ongoing trade conflicts, according to ADB’s latest Asia Bond Monitor.
Three Decades of Cooperation between ADB and the People's Republic of China in Support of Reform and Opening Up
Since joining ADB in 1986, the PRC has evolved from being a poor and predominantly agrarian economy to an upper-middle income manufacturing and services powerhouse that has become a leading international source of financial, technical, and knowledge cooperation.
Innovative climate solutions in the People’s Republic of China are demonstrating that it is possible for cities to pursue growth in a low-carbon and climate-resilient manner, according to the ADB report 50 Climate Solutions from Cities in the People’s Republic of China.
Economies in developing Asia and the Pacific are weathering external challenges thanks to robust domestic demand, while inflationary pressures are abating, says a new report from the Asian Development Bank.
Following 3 decades of rapid economic growth, the People's Republic of China (PRC) is now an upper middle-income country. The country is transforming to a new growth model that emphasizes quality and sustainability, supported by innovation. Addressing climate change-related concerns is also recognized as high priority.
Development challenges include implementing fiscal reforms, improving social protection systems, and reforming state-owned enterprises. Cornerstones of reform are to improve the range, quality, and availability of financial services; protect the environment; tackle regional disparities; address pockets of extreme poverty; and allow the market to determine resource allocation.
ADB is focusing its support on innovation and value addition in infrastructure, while promoting good governance and capacity development, knowledge solutions, private sector development, and gender equity.
The PRC is a member of the Central Asia Regional Economic Cooperation (CAREC) Program and Greater Mekong Subregion.
Support for the Yangtze River Economic Belt
Under its Yangtze River Economic Belt (YREB) Framework, ADB will provide around $2 billion over 2018-2020 to support integrated economic and environmental development in the upper and middle reaches of the Yangtze River. As one of the PRC's three economic growth areas, the YREB is key to helping the PRC achieve its goals of inclusive and sustainable growth and xiao kang, or a moderately prosperous society.
ADB's Yangtze River Economic Belt Framework makes targeted, integrated, and high impact investments in the middle and upper reaches of the Yangtze River in the People's Republic of China. The framework targets ecological restoration and green development in this crucial part of the PRC.
- Guizhou Rocky Desertification Area Water Management Project
- Chongqing Longxi River Basin Integrated Flood and Environmental Risk Management Project
- Sichuan Ziyang Inclusive Green Development Project
- Yangtze River Green Ecological Corridor Comprehensive Agriculture Development Project
- Henan Dengzhou Ecological Protection and Integrated Rehabilitation
- Hunan Xiangjiang River Watershed Existing Solid Waste Comprehensive Treatment Project
- Guizhou Gui’an New District New Urbanization Smart Transport System Development Project
- Strengthening Provincial Planning and Implementation for the Yangtze River Economic Belt
- Guizhou High Efficiency Water Utilization Demonstration in Rocky Desertification Area
- Supporting the Application of River Chief System for Ecological Protection in Yangtze River Economic Belt
- Preparing Yangtze River Economic Belt Projects
- Policy Research on Ecological Protection and Rural Vitalization for Supporting Green Development in the Yangtze River Economic Belt
Projects in the People's Republic of China
- Yuxi-Mohan Subregional Railway Link Project
- Qingdao Rural Waste-to-Energy and Clean Energy Supply in Rural and Suburban Areas Project
- Xinjiang Hetian Comprehensive Urban Development and Environmental Improvement Project
- Xinjiang Karamay Sustainable Agro-Forestry Development Project
- Gansu Internet-Plus Based Socialized Agricultural Service System Development
- Developing an Accountability Mechanism Framework for Financial Intermediaries
- Implementing the Integrated Trade Agenda in the Central Asia Regional Economic Cooperation Program
- Preparing the Silk Road Ecological Protection and Rehabilitation
- Northeast Asia Regional Development Studies
- Hubei Yichang Comprehensive Elderly Care Demonstration Project
- Strengthening Compliance Review and Accountability to Project Affected Persons of Financial Intermediaries
- Shanxi Inclusive Agricultural Value Chain Development
- Shandong Spring City Green Modern Trolley Bus Demonstration
- Research on Innovative Mechanism for Open Agricultural Investment
- Green Financing Platform for Accelerated Air Quality Improvement in the Greater Beijing-Tianjin-Hebei Region