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The 1989 Tiananmen Square protests represented an opportunity to liberalize the government in response to the growing private sector that emerged from economic reforms started a decade earlier.
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).
The new regulations affected Evergrande Group, China's second-largest property developer, and the Chinese real estate market as a whole. [5] In addition, the Chinese shadow banks, such as Sichuan Trust , have been greatly effected by the property sector crisis due to over lending and a crackdown on regulations.
Jia, currently president of the China Academy of New Supply-side Economics, a private think tank, was quoted as saying the potential bond issuance of up to 10 trillion yuan was “not unreasonable ...
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history. [1]: 11
The private sector in China, which competes with state-owned companies, contributes more than half of tax revenue, more than 60% of economic output and 70% of tech innovation, official estimates show.
The average income growth level of high-income groups is significantly faster than that of low-income groups. The income of the richest segment of society is 25 times that of the poorest segment. In addition, data on high-income households have not been fully released, and many gray incomes (including bribery and corruption) have not been ...
The Gini Coefficient, an income distribution gauge, has worsened from 0.3 back in 1986 to 0.42 in 2011. [2] Poverty researchers recognize anything above 0.4 as potentially socially destabilizing. The growing wealth gap can be seen as a byproduct of China's economic and social development policies. Market reforms were carried out in two stages ...