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China Economy

Presented by Sumit Subham Shshank

‡ China is the world's fastest-growing major economy, with average growth rates of 10% for the past 30 years. The country's per capita income was at $6,567 (IMF, 98th) in 2009. China is also the second largest trading nation in the world and the largest exporter and second largest importer of goods.

‡ Rank 2nd (nominal) / 2nd (PPP) ‡ Currency Renminbi (RMB); Unit: Yuan (CNY) Fixed exchange rates USD = 6.7872996 RMB (September 06, 2010) ‡ Fiscal year - Calendar year 01 January to 31 December ‡ Trade organizations - WTO, APEC, G-20 and others

‡ GDP $4.99 trillion (nominal: 3rd; 2009) $9.05 trillion (PPP: 2nd; 2009) ‡ GDP growth 9.1% (major economies: 1st; 2009) ‡ GDP per capita $3,735 (nominal: 97th;2009) $6,778 (PPP: 98th; 2009) ‡ GDP by sector industry (46.8%), services (42.6%), agriculture (10.6%) (2009)

Main industries
‡ mining and ore processing, iron, steel, aluminium, and other metals, coal; machine building; armaments; 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, and aircraft; telecommunications equipment, commercial space launch vehicles, satellites

Exports $1.2 trillion (1st; 2009)


‡ Export goods electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment ‡ Main export partners US 20.0%, Hong Kong 12.0%, Japan 8.3%, South Korea 4.6%, Germany 4.3% (2009)

Imports $1.01 trillion (2nd; 2009)


‡ Import goods electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals ‡ Main import partners Japan 12.3%,Hong Kong 10.1%, South Korea 9.0%, US 7.7%, Taiwan 6.8%, Germany 5.6% (2009)

‡ FDI stock $100 billion (2010) ‡ Gross external debt $347.1 billion (22nd; 2009)