US Edition
IMF Urges China to Halve Industrial Subsidies
4 Articles
4 Articles
FT: IMF calls on China to halve industrial subsidies
Key topics:IMF urges China to cut state support for industry amid overcapacity concerns.China’s industrial policies cause trade tensions and weak domestic demand.IMF recommends shift to consumption-led growth and social welfare reforms.Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bas…
IMF urges China to halve industrial subsidies
The International Monetary Fund called on China to halve its industrial subsidies, as concerns mount about manufacturing overcapacity in the world’s second-biggest economy. Beijing has in recent years ramped up exports of manufactured goods, notably EVs and green energy technology, and built up a trade surplus of over $1 trillion. It has led to worry overseas and at home: Policymakers worry that domestic supply gluts are causing damaging price w…
The International Monetary Fund (IMF) has recommended that China reduce support measures for domestic industry by approximately two percentage points of GDP, which would mean cutting by almost half the volume of subsidies and State aid, which the institution estimates at around 4 per cent of GDP in recent years, a much higher proportion than that of other economies.
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