This publication presents a synthesis of the main findings and policy recommendations of China in the World Economy: Domestic Policy Challenges. After more than two decades of progress in market reforms and trade and investment liberalisation, the entry of China into the World Trade Organisation marks a new era for its integration into the world economy. Drawing on the experiences of OECD Members over the past 50 years, and the Organisation’s extensive work with non-Member economies around the world, this publication provides readers with a synthetic view of the interrelated domestic policy issues at stake and with specific recommendations as to actions to be taken. List of themes: Agricultural prospects and policies Rural industries Implications for the rural economy Overview of industry prospects Priorities for industry reorganisation and restructuring Technology challenges for China’s industries Challenges to the banking industry The development of the insurance industry Prospects for the distribution sector Foreign direct investment: prospects and policies An OECD perspective on regulatory reform in China The role of competition law and policy Establishing effective governance for China's enterprises Developing the financial system and financial regulatory policies Priorities for development of China’s capital markets Labour market and social benefit policies Environmental priorities for China’s sustainable development The current tax system and priorities for reform Public sector budget management issues Issues concerning central-local government fiscal relations China's regional development: prospects and policies Macroeconomic policy priorities Annex 1 : Summary of China’s commitments under WTO Annex 2 : Summary of studies of the impact of WTO on China This publication is part of the OECD's ongoing co-operation with non-Member economies around the world.