Chinese Economy in 2019: Structural Reforms and Firms’ Behaviour amid Growing Uncertainties

Abstract

<jats:p> China’s gross domestic product (GDP) in 2019 grew by 6.1% in the face of rising global uncertainties and underperforming structural reforms. Productivity growth had also slowed down, and this is associated with resource misallocation at the micro level. In 2019, the Chinese government had introduced various policies to promote productivity and to support the new economy. These policies have yet to make substantial changes, and local governments are lacking the incentives and capacity to implement structural reforms. </jats:p>