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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).
List of top municipalities and prefecture-level divisions by GDP [5] Nominal GDP is based on the official annual average exchange rate at CN¥ 6.3527 per US dollar in 2021; CN¥4.173 per Int'l. dollar (according to World Economic Outlook published by IMF in October 2021 publication) [6] [7] rank cities provinces GDP (billion CNY) GDP (billion US$)
[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.
China's economy grew 5% in 2024, meeting its growth target. Analysts expected China's GDP growth to be 4.9%, close to the 5% target. China faces challenges like property crisis, youth unemployment ...
China’s economy grew 5.2% in 2023. While this expansion marked a significant pick-up compared to 2022, when it grew by just 3% amid intense coronavirus lockdowns and disruption, it was still one ...
The government is aiming for economic growth of around 5.0% for 2024, a target that many analysts believe is ambitious and may require more stimulus. Chinese stocks largely shrugged off the better ...
China's nominal GDP surpassed that of Italy in 2000, France in 2005, the United Kingdom in 2006, Germany in 2007, Japan in 2010 and that of the Eurozone in 2018 making China the world's third largest economy after the European Union and United States. [6]
China's economy likely perked up slightly in the fourth quarter, enabling the government to hit its growth target after the previous year's miss, but the outlook for 2024 remains shaky amid a ...