Chi Hung KWAN
Consulting Fellow, RIETI

China is undergoing a dual transition from a planned to a market economy, and from a traditional agricultural to a modern industrial society. In this column, we examine how this process has come about, and its implications for China's 1.3 billion people as well as the rest of the world.

(June 29, 2010)

On June 19, the People's Bank of China (the central bank) announced a policy of adopting a more flexible exchange rate for the yuan as part of its measures to improve the exchange rate mechanism. It subsequently resumed the revaluation of the yuan, by terminating the de facto dollar peg system that had been in place since July 2008.

• Made-in-China Inflation to Accelerate with the Resumption of Yuan Revaluation: Stimulative effect on the Japanese economy questionable (June 29, 2010)
• Chinese Real Estate Market Entering a Correction Phase (June 29, 2010)
• China Replacing the U.S. as the Largest Overseas Market for Japan (May 19, 2010)
• Revaluation of Yuan Expected to Resume Soon (May 19, 2010)
• China's Economy Likely to Achieve Double-Digit Growth Driven by Recovering Exports - Worries of downside risk misplaced - (April 28, 2010)
• Shortage of Migrant Workers Suggests Arrival of Lewisian Turning Point - Industrial upgrading likely to accelerate as a result - (April 28, 2010)
• Chinese Monetary Policy Under Pressure as Asset Bubble Balloons - Japan's experience and lessons offer useful reference - (April 12, 2010)
• College Graduate Unemployment: Causes and solutions (February 24, 2010)
• Inflationary Pressure Rising with Economic Recovery - Whither the "exit strategy" from the ultra-loose monetary policy? - (February 3, 2010)
• Growing Criticism over Advancing State-owned Sector and Retreating Private Sector - China should be aiming for the reverse - (February 3, 2010)
• China Set to Pass Japan and Become World's Second Largest Economy - Sights now on surpassing the United States in terms of GDP - (December 25, 2009)
• Chinese Economy Enters Second Year of Recovery in 2010 - Asset bubble and inflation have become major concerns - (December 25, 2009)
• China as the Key to Success of COP15 - Announcement of a CO₂ reduction target as one step forward - (December 04, 2009)
• Labor Supply to Become a Constraint on Economic Growth in China - Policies focus to shift from job creation to increasing productivity - (November 27, 2009.)
• China Looks for an Exit Strategy from its Ultra-loose Monetary Policy - Driver for share prices shifts from liquidity to fundamentals - (October 30, 2009)
• People's Republic of China Celebrates 60th Anniversary: From an era of economic reform to an era of political reform (English edition, October 21, 2009)
• China as Number 1 (September 24, 2009)
• Redressing the Global Imbalance - Increasing Chinese consumption and U.S. savings is the key - (September 3, 2009)
• Chinese Economic Recovery under Way - Concerns about an asset bubble and inflation on the rise - (July 31, 2009)
• Transforming the World's Workshop - - Center of industry shifts from light to heavy industry (July 31, 2009)
• Improved Cross-Straits Relations under the Ma Ying-jeou Administration
  - A path to peaceful reunification - (June 30, 2009)
• Income Distribution Policy, the Key to Expand Consumption (June 29, 2009)
• Growth in Chinese Economy Moving from East to West
  "Domestic flying geese" pattern starting to show effects (June 5, 2009)
• China Seeking Early Economic Recovery (April 6, 2009)
• Stepping up Efforts toward Renminbi Internationalization (April 6, 2009)
• Agricultural Sector as a Safety Valve for Employment (January 29, 2009)
• China Exploring Measures to Boost Consumption (January 29, 2009)