The informal economy of the People's Republic of China refers to a range of informal economic activity that stands outside of the recognized systems of regulations, taxation, and licenses. Although the term is sometimes understood to describe marginal, unregulated, and even criminal activity, there is considerable overlap between the informal sector and formal economy, and the informal economy serves an important societal function in contributing to employment and economic growth.
The informal economy in China represents a large portion of domestic output, consumption and employment. Employment in the urban sector represents a major part of the Chinese economy: approximately half of urban Chinese workers belong to the informal economy as of 2004.[1]—a significant increase since the 1990s. It is described as fast-growing, dynamic, highly competitive, and it contributes substantially to economic growth.[1] However, there are serious concerns about the lack of protections afforded to workers in the informal sector.
In addition, China is a major part of the global informal sector, producing unregulated goods for consumption in Africa, Latin America, and elsewhere.[2] According to Roberta Neuwirth, China's rise as a global center of manufacturing owes, in part, to its willingness to trade in the informal economy, also known as system D trade.[3] In some regions in China, local governments have adopted policies designed to encourage the informal economy to alleviate unemployment.[4]
^ abJohannes Jutting and Theodora Xenogiani, "Informal Employment and Internal Migration:The Case of China," Organisation de Cooperation et de Developpement Economiques, (Beijing, Nov 2007).
^National Public Radio, The 'Informal Economy' Driving World Business, 26 October 2011.
^Robert Neuwirth, Stealth of Nations: The Global Rise of the Informal Economy (Random House 2011.
^Kristina Flodman Becker, The Informal Economy Archived 2011-10-27 at the Wayback Machine, Sida, March 2004.
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