tailieunhanh - PEOPLE'S REPUBLIC OF CHINA: 2012 ARTICLE IV CONSULTATION

Like Philadelphia’s neighborhood gardens planted on hundreds of acres of vacant lots throughout the city, the murals are a symbol of civic care and of a public commitment to revitalization. Murals are a bridge between public art, community revitalization and youth development. In a city like Philadelphia, which has lost half a million residents over a fifty-year period, the recovery of a vacant wall or a vacant lot is akin to fixing the “broken window;” it sends a signal about civic and public norms and neighborhood capacity. It is a relatively low-cost, high impact form of place- making that creates something. | July 2012 INTERNATIONAL MONETARY FUND IMF Country Report No. 12 195 PEOPLE S REPUBLIC OF CHINA 2012 ARTICLE IV CONSULTATION Under Article IV of the IMF s Articles of Agreement the IMF holds bilateral discussions with members usually every year. In the context of the 2012 Article IV consultation with the People s Republic of China the following documents have been released and are included in this package Staff Report for the 2012 Article IV consultation prepared by a staff team of the IMF following discussions that ended on June 8 2012 with the officials of the People s Republic of China on economic developments and policies. Based on information available at the time of these discussions the staff report was completed on July 6 2012. The views expressed in the staff report are those of the staff team and do not necessarily reflect the views of the Executive Board of the IMF. Informational Annex to the Staff Report of July 6 2012. Staff Statement of July 20 2012 Public Information Notice PIN summarizing the views of the Executive Board as expressed during its July 20 2012 discussion of the staff report that concluded the Article IV consultation. Statement by the Executive Director for the People s Republic of China. The policy of publication of staff reports and other documents allows for the deletion of market-sensitive information. Copies of this report are available to the public from International Monetary Fund Publication Services 700 19th Street . Washington . 20431 Telephone 202 623-7430 Telefax 202 623-7201 E-mail publications@ Internet http International Monetary Fund Washington . 2012 International Monetary Fund PEOPLE S REPUBLIC OF CHINA STAFF REPORT FOR THE 2012 ARTICLE IV CONSULTATION July 6 2012 KEY ISSUES Context. The economy seems to be undergoing a soft landing though global headwinds are increasing. Growth is expected to moderate to around 8 percent this year and inflation to drop to 3 2 percent. Meanwhile a political .