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The reform of fiscal relations between different levels of geovernment is crucial to the success of China's current structural transformation to a socialist market economy. The reform will profoundly affect macroeconomic stability, growth prospects, and the effectiveness of prov…
In recent years, China has taken steps to promote sustainable growth, with greater reliance on market mechanisms and institutions that facilitate orderly macroeconomic controls. The International Monetary Fund has been assisting the authorities in this endeavor. IMF participatio…