1 “...China has achieved tremendous economic progress in the last three decades, but there is much work...”

2 “...China's transformation into a dynamic private-sector-led economy and its integration into the world...”

3 “...China's household saving rate has increased markedly since the mid-1990s and the age-savings...”

4

5 “...As China's economy becomes more market based and continues its rapid integration into the global...”

6 “...From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points...”

7 “... and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate...”

8 “... into China, both in terms of volumes and composition. China's inflows have generally been dominated...”