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The economic stimulus plan was seen as a success: While China's economic growth fell to almost 6% by the end of 2008, it had recovered to over 10% by in mid-2009. Critics of China's stimulus package have blamed it for causing a surge in Chinese debt since 2009, particularly among local governments and state-owned enterprises .
Since the Reform and Opening Up period, China has evolved into a backbone of the world economy. [2] China has been the fastest growing economy in the world since the 1980s, with an average annual growth rate of 10% from 1978 to 2005, based on government statistics. Its GDP reached US$2.286 trillion in 2005. [3]
The National Bureau of Statistics (Chinese: 国家统计局) is a deputy-ministerial level agency directly under the State Council of China. Established in August 1952, the bureau is responsible for collection, investigation, research and publication of statistics concerning the nation's economy, population and other aspects of the society.
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 2016 has been the world's largest economy when measured by purchasing power parity (PPP).
January 1 – Tongyong pinyin will no longer be official in the Republic of China, due to the ROC's Ministry of Education's approval of Hanyu pinyin in 2008. [1] [2]January 2 – The border demarcation with markers was officially completed between China and Vietnam, signed by Deputy Foreign Minister Vu Dung on the Vietnamese side and his Chinese counterpart, Wu Dawei, on the Chinese side.
HONG KONG (AP) — China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, thanks to strong exports and ...
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.
As China’s growth slows, some economists have drawn comparisons with Japan, which experienced two “lost decades” of stagnant growth and deflation after its real estate bubble burst in early ...