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Acknowledgments

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This report is part of a study on Sustaining and Rebalancing Growth in the People’s Republic of China funded under the Asian Development Bank’s Technical Assistance 7514 for Establishing Global Research Alliances. The report would not have been possible without the contributions of a range of scholars and experts. The authors wish to thank them for contributing background studies, participating in workshops, and offering suggestions on various drafts.

Detailed background studies were provided by scholars at Peking University, including Xiaoyan Shirley Lei, Lixing Li, Guixia Guo, Yiping Huang, Feng Lu, Ho-Mou Wu, Jianguo Xu, Yang Yao, Miaojie Yu, Chuanchuan Zhang, and Yaohui Zhao. Scholars from the Chinese Academy of Social Sciences, Fang Cai and Meiyan Wang, from the People’s Bank of China, Zhong Xu, and from the Institute for Fiscal Science Research, Jia Kang and Junmin Liu, contributed thematic papers. International scholars who provided studies on the Chinese economy or on countries that have faced similar challenges include: Loren Brandt, Nora Lustig, Jaime Ros, Ligang Song, and Wing Thye Woo. ADB staff who contributed studies include: Jingmin Huang, Yi Jiang, Donghyun Park, Suphachol Suphachalasai, Paul Vandenberg, Guanghua Wan, and Juzhong Zhuang.

We also wish to thank the experts who participated in two workshops in Beijing where ideas and draft papers were presented and discussed. They include: Athar Hussain, Maria Socorro Bautista, Biswa Nath Bhattacharyay, Yang Du, Michael Han, Don Hanna, Dong He, Jianwu He, Liping He, Paul Heytens, Dayuan Hu, Nicholas Lardy, Jong-Wha Lee, Shantong Li, Xin Li, Tun Lin, Minquan Liu, Yolanda Fernandez Lommen, Mai Lu, Ming Lu, Donghyun Park, Dwight Perkins, Yan Shen, Hyun Son, Min Tang, Geng Xiao, Ping Yan, Linda Yueh, Fan Zhai, Bin Zhang, Liqing Zhang, Ling Zhu, and Ji Zou.

Invaluable comments were received on drafts from ADB’s East Asia Department and we would like to thank Klaus Gerhaeusser, Hamid Sharif, Robert Wihtol, and Qian Ying for their support and cooperation. In particular, we wish to thank Yolanda Fernandez Lommen and her team in the Economics Unit at ADB’s Resident Mission in the PRC for contributions through the unit’s ongoing economic analysis and policy work and for reviewing drafts. We are also grateful for insightful comments from Xianbin Yao of the Pacific Department, Lei Lei Song of the Office of Regional Economic Integration, and Jun Tian of the Regional and Sustainable Development Department on earlier drafts. Thanks also go to Jesus Felipe and Iris Claus of the Economics and Research Department for their contributions on export and import sophistication in Section 4 and on tax reform in Section 5, respectively. Support from Fan Zhai and Wen Jianwu in modeling structural change and Damaris Yarcia for carrying out long-term growth projections reported in Section 6 is also gratefully acknowledged. The report was edited by Guy Sacerdoti. The design, layout, and typesetting were carried out by Joe Mark Ganaban. Research assistance at ADB headquarters was provided by Anneli Lagman-Martin, Lilibeth Poot, and Emmanuel San Andres.

Finally, we would like to thank Jong-Wha Lee, the former Chief Economist of ADB, for initiating this study, and the International Department of the Ministry of Finance of PRC and the China Center for Economic Research of the National School of Development at Peking University for their support throughout the study.

Growing Beyond the Low-Cost Advantage

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