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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]
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.
April 16 – The government of the People's Republic of China releases economic data for Q1 2009, showing a rise in GDP by 6.1%, fall in CPI by 1.2% during March, PPI down 4.6%, industrial output by 5.1%, retail sales up 15%, and fixed asset investment up 28.8%. [25] April 22 –
Historically, the United States was consistently year after year the world's largest economy since the early twentieth century. However, the report from 2014 showed that for the very first time China overtook the United States as the largest economy in the world taking into account purchasing power parity (PPP). Indeed, the margin of power ...
Acting to relieve the burden on banks, the People's Bank of China, or central bank, announced late Thursday that the reserve requirement for most lenders would be cut by 0.25 percentage points as ...
Economic activity in China appeared to improve in August, with data released on Friday suggesting a downturn in growth may be stabilizing. But more bad news on real estate highlighted the ...
China's yuan has been under depreciation pressure this year amid rising headwinds for the broad economy, and an escalating Sino-U.S. trade dispute also heightened worries over growth outlook.
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).