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[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
2024 GDP (nominal) in billions — Asia: 42.72 trillion: 1 China: 18.53 trillion [2] 2 Japan: 4.07 trillion [3] 3 India: 3.88 trillion [4] 4 Russia: 2.0 trillion 5 South Korea: 1.76 trillion 6 Indonesia: 1.47 trillion 7 Turkey: 1.3 trillion 8 Saudi Arabia: 1.11 trillion 9 Taiwan: 803.0 billion 10 Thailand: 548.9 billion 11 Israel: 530.6 billion 12
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP).
China has approved a six trillion yuan ... 2024. (Ng Han Guan/AP) ... China’s GDP grew by just 4.6% in the three-month period from July to September, compared with a year ago. ...
The Chinese government may need to spend $2.1 trillion to resolve problems in the housing market, Goldman Sachs analysts estimated in a report released Sunday. Retail and exports
China has set an annual growth target of around 5% for 2024, which many analysts considered ambitious, as consumer and business confidence remains weak and the real estate sector is mired in a ...
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database (October 2024 edition) and/or other sources. [1] For older GDP trends, see List of regions by past GDP (PPP).
The new deficit plan compares with an initial target of 3% of GDP for 2024, and is in line with a "more proactive" fiscal policy outlined by leading officials after December's Politburo meeting ...