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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 2016 has been the world's largest economy when measured by purchasing power parity (PPP).
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.
China, [i] officially the People's Republic of China (PRC), [j] is a country in East Asia. With a population exceeding 1.4 billion, it is the second-most populous country after India, representing 17.4% of the world population.
The path of socialism with Chinese characteristics (中国特色社会主义道路) establishes that, under the CCP's leadership, China must base it on the basic national conditions, focus on economic development, adhere to the Four Cardinal Principles and to Reform and Opening Up, liberate and develop social productive forces, construct a ...
The 11th Five-Year Plan of China, officially the 11th Five-Year Plan for Economic and Social Development of the People's Republic of China, was a set of economic goals designed to strengthen the Chinese economy between 2006 and 2010.
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[20]: 45 Following United States President Donald Trump's emphasis on decoupling the U.S. from China and the U.S. government placing Chinese companies on the Entity List, Yu's view is that dual circulation has now also become a matter of security for China. [20]: 45 China must therefore act to ensure its China's food and energy security. [10]