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It is the world's second largest economy by nominal GDP, behind the United States, and the world's largest economy since 2016 when measured by purchasing power parity (PPP). [note 2] China accounted for 19% of the global economy in 2022 in PPP terms, [30] and around 18% in nominal terms in 2022.
China, officially the People's Republic of China (PRC), is a country in East Asia. With a population exceeding 1.4 billion, it is the world's second-most populous country after India, representing 17.4% of the world population. China spans the equivalent of five time zones and borders fourteen countries by land.
Since China's transition to a socialist market economy through controlled privatisation and deregulation, 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.
On Tuesday, Premier Li Qiang announced that economic growth target of around 5% for 2024, which he said “will not be easy” to hit, given that a Covid-battered 2022 had provided a lower base of ...
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.
Current status. The gross domestic product of China in 2019 was CN¥ 99.08651 trillion, [4] or US$ 14.4 trillion (nominal). [5] 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 ...
Life expectancy. Illiteracy rate. Tax revenue. Former capitals. v. t. e. The article lists China 's province-level divisions by gross domestic product (GDP). Each province's GDP is listed in both the national currency renminbi (CN¥), and at nominal U.S. dollar values according to annual average exchange rates.
China, for the last two millennia, was one of the world's largest and most advanced economies. [1] [2] [3] Economic historians usually divide China's history into three periods: the pre-imperial era before the rise of the Qin; the early imperial era from the Qin to the rise of the Song (221 BCE to 960 CE); and the late imperial era, from the ...