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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).
Department of Economic Planning and Statistics deps.gov.bn Cambodia: National Institute of Statistics of Cambodia: nis.gov.kh China: National Bureau of Statistics of China: stats.gov.cn East Timor: Instituto Nacional de Estatística de Timor-Leste: inetl-ip.gov.tl Hong Kong: Census and Statistics Department: censtatd.gov.hk India: National ...
[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. [8] [1] [11]
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises . [ 1 ]
China's factories picked up their pace and retail sales also gained momentum in August, the government reported Friday, suggesting the economy may be gradually recovering from its post-pandemic ...
Despite economic stagnation after 1450 and the rise of early modern Europe, China's economy remained the world's largest from the 1500s until 1820 as the world's most populous country and remained the world's largest economy up until 1885, a figure higher than the US economy at the height of its economic dominance after World War II. [45]
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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.