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China is the currently the world's largest semiconductor market in terms of consumption. In 2020, China represented 53.7% of worldwide chip sales, or $239.45 billion out of $446.1 billion. However, a large percentage are imported from multinational suppliers. In 2020, imports took up 83.38% ($199.7 billion) of total chip sales.
In 1986, as the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Fengbo Zhang headed Chinese Macroeconomic Research - the key research project of the seventh five-year plan, as well as completing and publishing the Chinese GDP data according to China's own research and calculations.
[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.
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, October 2024 Edition. [1] The figures are given or expressed in Millions of International Dollars at current prices.
Since the implementation of reform and opening up in mainland China in 1978, its economy has developed rapidly. In 1995, the GDP per capita of Beijing, Tianjin, and Shanghai reached more than 1,000 US dollars; by 2000, there were 10 provinces with GDP per capita exceeding 1,000 US dollars, of which Beijing, Tianjin, and Shanghai exceeded 2,000 ...
China has set an ambitious economic expansion target of “around 5%“ for 2024, as its leaders vowed to “transform the growth model” in the face of significant challenges facing its development.
List of 31 provinces in mainland China by nominal GDP for 2023 & 2024 (at current price) [1] provinces GDP in 2024 (mil. GDP) (preliminary budget data) GDP in 2023 (mil. GDP) (revision based on the 5th econ-census) ExRate: ￥7.1217 per US dollar in 2024 [2] ExRate: ￥7.0467 per US dollar in 2023; CN¥ US$ share (%) CN¥ US$ share (%) Mainland ...