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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).
[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.
Data are in millions of international dollars; they were compiled by the World Bank. The third table is a tabulation of the CIA World Factbook GDP (PPP) data update of 2019. The data for GDP at purchasing power parity has also been rebased using the new International Comparison Program price surveys and extrapolated to 2007.
The world’s second largest economy slowed from 4.7% annual growth in the previous quarter and falling short of the official target of “about 5%” growth for 2024, a figure that some analysts ...
China's GDP growth rate is likely to be between 3% and 4% for the next three to five years, said Gao Shanwen, a prominent economist. ... The world's second-largest economy is facing multiple ...
The world's second-largest economy now globally dominates sectors such as electric vehicles and green energy, and has less need for the Boeing jets and large gasoline-fuelled cars it bought back ...
The top 3 largest economies in Asia are China, Japan and India. China is the largest economy in Asia, ... 2024 GDP (nominal) in billions — Asia: 42.72 trillion: 1
China, the world's second-largest economy, is dealing with multiple challenges, including a property crisis, deflation, and high youth unemployment.