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What Is Behind China's Latest National Balance Sheet

Editor in Chief: Li Yang

ISBN: 978-1-84464-504-6

Ebook ISBN: 978-1-84464-505-3

Hardback-106 Pages

October 2017


£65 €78 $98



Based on the existing compilation framework, this report attempts to update the main data and focuses on China’s economic development and restructuring process during the period from 2012 to 2014. It explores the challenges in the process of stabilizing economic growth and the adjusting economic structure, and examines the transforming development mode and control of economic risks, especially in the process of deleverage and the controlling of financial risks. It also puts forward policy proposals for resolving the balance sheet risks. This report also collects the experts’ speeches on the symposium, which point out the way to perfect the compilation of the national balance sheet and give advice on how to make a better analysis and application of the national balance sheet.



Main Report

Section One Main Findings

1. National Balance Sheet

2. Sovereign Balance Sheet

3. Sector Balance Sheet

Section Two Leverage Adjustment and Risk Management

1. Notes to the Totaling Method

2. Society-wide Leverage Ratio

3. Leverage Ratio Cycle

4. Dilemma between De-leveraging and Stabilizing Growth: Numerator Strategy and Denominator Strategy

5. Leverage Adjustment and Financial Risk Management

6. The Fundamental Way out Lies in Transforming the Economic Development Mode through Reform

Speeches at the Seminar

The National Balance Sheet is a New Thing, by Cai Fang

Keynote Report on the National Balance Sheet, by Li Yang

1. Overall Judgment

2.  Non-financial Enterprises, Residents, the Government and Financial Institutions

3. Leverage Adjustment Issues

4. Structural Risks in China’s Balance Sheet

What Is Behind the Latest National Balance Sheet, by Zhang Xiaojing

1.  The National Balance Sheet Reflects China’s Developmental Stage and Institutional Characteristics

2. China’s Sovereign Net Assets Can Cope with 1.5 Crises

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