Economy of China : An OverviewChina with a GDP of over USD 6.9 trillion (on a purchasing power parity (PPP) basis) (Source: IMF) is the world’s second largest economy. China has a per capita income is around USD 5,325 on a PPP basis (Source: IMF). China has fast transformed itself from a centrally planned economy to a market-oriented economy.
China has a total area of 9.5 million sq km with a coastline of 14,500 km. Its arable land constitutes around 15% of its total land. China is the fourth largest country in the world by land area.
Agriculture constitutes over 11%, manufacturing around 48 % and services 40 % of the economy. About 45 percent of people in China are employed in the agriculture sector. Yields in China are high because of intensive cultivation. China is the world's largest producer of rice.
China has abundant reserves of coal, iron ore, manganese, petroleum and aluminum. China is the largest producer of steel in the world. It is also the world’s third largest automotive vehicle manufacturer.
Agriculture constitutes over 11%, manufacturing around 48 % and services 40 % of the economy. About 45 percent of people in China are employed in the agriculture sector. Yields in China are high because of intensive cultivation. China is the world's largest producer of rice.
China has abundant reserves of coal, iron ore, manganese, petroleum and aluminum. China is the largest producer of steel in the world. It is also the world’s third largest automotive vehicle manufacturer.
China is the world's most populous country. China has a population of more than 1.3 billion. Its population growth rate is around 0.6%. China has a life expectancy rate of around 73 years. Its literacy rates stand at around 90% . About 8% of the Chinese population is below the poverty line. China adopted the one child per family policy in 1979.
The biggest export partners are USA , Hong Kong , and Japan. China is also one of the largest destinations of FDI in the world. It is a member of WTO.
China’s two major stock exchanges are the -Shanghai Stock Exchange and Shenzhen Stock Exchange.
The currency of China is the renminbi. The Chinese currency is denominated as the yuan.
China also ranks first in the world in terms of hydropower potential. Its total electricity production is around 2.8 trillion kWh.
China also ranks first in the world in terms of hydropower potential. Its total electricity production is around 2.8 trillion kWh.
China is also amongst the few countries in the world that have a high-speed train.
China has over 160 million Internet users.
No comments:
Post a Comment