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China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
As of 2020, Taobao hosted ten million online stores, 726 million active buyers, and a gross merchandise value of $945 billion. [7]: 58 As of 2021, Taobao was the 8th most visited website in the world and the 5th most visited website in China. [50]
China has 34 major ports and more than 2000 minor ports. The former are mostly sea ports (except for ports such as Shanghai, Nanjing and Jiujiang along the Yangtze and Guangzhou in the Pearl River delta) opening up to the Yellow Sea (Bo Hai), Taiwan Strait, Pearl River and South China Sea while the latter comprise ports that lie along the major and minor rivers of China. [1]
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As of 2017, China has more SOEs than any other country, and the most SOEs among large national companies. [1] [page needed] As of the end of 2019, China's SOEs represented 4.5% of the global economy [2] and the total assets of all China's SOEs, including those operating in the financial sector, reached US$78.08 trillion. [3]
The China International Import Expo (CIIE) is a trade fair held in autumn annually since 2018 in Shanghai, China. It is the world's first import -themed national-level expo. [ 1 ] It will feature exhibitions of multiple countries and businesses and the Hongqiao International Economic and Trade Forum.
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In China, wholesalers are subject to a Value-Added Tax (VAT) of either 9% or 13% on imported goods, depending on the type of product. [5] [6] Additionally, consumption tax is levied on products such as tobacco, alcohol, and luxury goods. These taxes are part of China's broader strategy to promote domestic consumption and regulate imports. [7]
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