China's economy
|
|
| Currency | Renminbi Yuan (CNY) = 0.15 USD |
|---|---|
| Calendar year | |
|
Trade organizations
|
WTO, APEC, G-20 and others |
| Statistics | |
| GDP | $11.8 trillion (nominal; 2017) $23.2 trillion (PPP; 2017) |
| GDP rank | 2nd (nominal); 1st (PPP) |
|
GDP growth
|
 6.7% (2016)6.9% (2015) 7.3% (2014) |
|
GDP per capita
|
$8,481 (nominal; 2017) $16,676 (PPP; 2017) |
|
GDP per capita rank
|
73rd (nominal); 84th (PPP) |
|
GDP by sector
|
agriculture: 9%, industry: 40.5%, services: 50.5% (2015) |
 1.4% (2015) |
|
|
Population below poverty line
|
5.1% (2015) |
| 46.2 (2015) | |
|
Labor force
|
807 million (1st; 2015) |
|
Labor force by occupation
|
agriculture: 29.5%, industry: 29.9%, services: 40.6% (2014) |
| Unemployment | 4.1% (2015) |
|
Average gross salary
|
$10,000 annual, 5,200 CNY/ month (2015) |
| $8,000 annual, 4,000 CNY/ month (2015) | |
|
Main industries
|
mining and ore processing, iron, steel, aluminum, and other metals, coal; textiles and apparel; petroleum; cement; chemicals; fertilizers; consumer products, including footwear, toys, and electronics; food processing; transportation equipment, including automobiles, rail cars and locomotives, ships, aircraft and other vehicles; telecommunication and industruial equipment; machinery; heavy engineering; commercial space launch vehicles, satellites, manufacturing |
| 78th (2017) | |
| External | |
| Exports | $2.3 trillion (2015) |
|
Export goods
|
Electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment, as well as almost every single category of industrial products. |
|
Main export partners
|
 United States 16.9% Hong Kong 15.5% Japan 6.4% South Korea 4.3% (2014 est.) |
| Imports | $1.7 trillion (2015) |
|
Import goods
|
Electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals |
|
Main import partners
|
South Korea 9.7% Japan 8.3% United States 8.1% Taiwan 7.8% Germany 5.4% Australia 5% (2014 est.) |
|
FDI stock
|
$1.3 trillion (2012) |
|
Gross external debt
|
$0.9 trillion (2013) |
| Public finances | |
|
16.7% of GDP (2015 est.) |
|
| Revenues | $2.1 trillion (2013 est.) |
| Expenses | $2.3 trillion (2013 est.) |
| AA- (Domestic) AA- (Foreign) AA- (T&C Assessment) (Standard & Poor's) |
|
|
Foreign reserves
|
 $3 trillion (April 2017) |
China's socialist market economy is the world's second largest economy by nominal GDP, and the world's largest economy by purchasing power parity according to the IMF, although China's National Bureau of Statistic denies this claim. Until 2015 China was the world's fastest-growing major economy, with growth rates averaging 10% over 30 years. Due to historical and political facts of China's developing economy, China's public sector accounts for a bigger share of the national economy than the burgeoning private sector.
China is a global hub for manufacturing, and is the largest manufacturing economy in the world as well as the largest exporter of goods in the world. China is also the world's fastest growing consumer market and second largest importer of goods in the world. China is a net importer of services products.
China is the largest trading nation in the world and plays the most important role in international trade, and has increasingly engaged in trade organizations and treaties in recent years. China became a member of the World Trade Organization in 2001. China also has free trade agreements with several nations, including Australia, South Korea, ASEAN, New Zealand, Switzerland and Pakistan.
On a per capita income basis, China ranked 72nd by nominal GDP and 84th by GDP (PPP) in 2015, according to the International Monetary Fund (IMF). The provinces in the coastal regions of China tend to be more industrialized, while regions in the hinterland are less developed. As China's economic importance has grown, so has attention to the structure and health of the economy.
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Wikipedia