The Junction of China’s Welfare Spending and Fiscal Sustainability

Debt levels in China are believed to be sustainable at a national level, but a closer look at provincial level data, flags up potential causes for concern. Prior to the Global Financial Crisis, there was a consensus that China was fiscally sustainable with both foreign and domestic debt taken into consideration. This is because the […]

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Chart of the Week January 8, 2021: Impact of COVID-19 on China’s Insurance Market

Summary The COVID-19 pandemic has likely heightened worries amongst the Chinese population regarding the risk of unexpected high medical expenses. This is seen from the growth in health insurance premium during the impact period. This week’s chart compares the year-on-year provincial average insurance premium growth rates for accident, health and property insurances between 2019 and 2020. The COVID-19 impact has given rise to varying patterns of premium income growth across insurance types.  […]

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Chart of the Week November 13, 2020: China’s COVID-19 Recovery and Containment Measures

Summary China recently reported a year-on-year growth of 4.9% for its real GDP in 2020 Q3, which is slightly below the 6% growth prior to the COVID-19 outbreak. This week’s Chart of the Week explores the nature of this quick recovery, China’s COVID-19 policy and containment measures, and the implications for the wider Asia Pacific region.    Highlights The quick recovery is attributed to active containment measures in […]

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Chart of the Week October 30, 2020: China’s Social Expenditure over the Past Decade

Summary China’s Social Expenditure comprises of six different components: education expenditure, pension insurance, medical and healthcare expenditure, unemployment insurance, housing insurance, and minimum living allowance (China Development Research Foundation, 2013). Since 2017, China has emphasized the importance of increasing their investments in education, healthcare, and welfare benefits in order to mitigate inequities in social and economic development. This week’s Chart of the Week presents annual data from the National […]

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Chart of the Week October 2, 2020: Asia’s GDP Growth and Synchronisation during SARS and COVID-19

Summary In comparison with the SARS outbreak in 2003, the recent COVID-19 pandemic has caused a more synchronized decline in the GDP growth of China and ASEAN countries. This week’s ‘Chart of the Week’ focuses on the comparison between the economic impacts of China and ASEAN nations during the two pandemics. Highlights The economic impact […]

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