AMRO：2025年中国年度磋商报告（英文版）（42页）.pdf

1、AMRO Country Report ACR/26-01 ASEAN+3 Macroeconomic Research Office(AMRO)February 2026 AMRO Annual Consultation Report China-2025 ANNUAL CONSULTATION REPORT CHINA 2025 ASEAN+3 Macroeconomic Research Office(AMRO)Page 1 of 41 Acknowledgments 1.This Annual Consultation Report on China has been prepared

2、 in accordance with the functions of AMRO to monitor and assess the macroeconomic status and financial soundness of its members;identify relevant risks and vulnerabilities;report these to member authorities;and if requested,assist them in mitigating these risks through the timely formulation of poli

3、cy recommendations.This is being done in accordance with Article 3(a)and(b)of the AMRO Agreement.2.This Report is drafted on the basis of the Annual Consultation Visit of AMRO to China from 28 August to 12 September 2025(Article 5(b)of AMRO Agreement).The AMRO Mission team was headed by Dr Jae Young

4、 Lee,Group Head and Lead Economist and Dr Fan Zhai,Senior Economist and Deputy Mission Chief.Members include Mr Suan Yong Foo,Senior Economist and Desk Economist for China;Dr Ke Ji,Economist and Co-Desk Economist for China;Dr Jerry(Xianguo)Huang,Senior Economist;Mr Jungsung Kim,Economist;Mr Dek Joe

5、Sum,Fiscal Specialist;and Ms Yin Muyar Soe,Associate.AMRO Director Mr Yasuto Watanabe and Chief Economist Dr Dong He also participated in key policy meetings with the authorities.This AMRO Annual Consultation Report on China for 2025 was peer-reviewed by a group of economists from AMROs Country Surv

6、eillance,Financial Surveillance,and Fiscal Surveillance teams;endorsed by the Policy and Review Group;and approved by Dr Dong He,AMRO Chief Economist.3.The analysis in this Report is based on information available up to 15 September 2025.4.By making any designation of or reference to a particular te