China Investment service
Hotline: 86-755-82147392, Email:info@citilinkia.com
In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US that year... Still, per capita income is below the world average.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.
China implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
GDP (purchasing power partity):
$17.63 trillion (2014 est.)
$16.42 trillion (2013 est.)
$15.25 trillion (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 1st
GDP （official exchange rate）：
$10.36 trillion
（note: because China's exchange rate is determine by fiat, rather than by market forces, the official exchange rate measure of GDP is not an accurate measure of China's output; GDP at the official exchange rate substantially understates the actual level of China's output vis-a-vis the rest of the world; in China's situation, GDP at purchasing power parity provides the best measure for comparing output across countries (2014 est.) ）
GDP-real groeth rate:
7.4% (2014 est.)
7.7% (2013 est.)
7.7% (2012 est.)
country comparison to the world: 14th
GDP-per capita (PPP):
$12,900 (2014 est.)
$12,100 (2013 est.)
$11,300 (2012 est.)
note: data are in 2013 US dollars
country comparison to the world: 113rd
Gross national saving :
49.5% of GDP (2014 est.)
49.7% of GDP (2013 est.)
50.3% of GDP (2012 est.)
country comparison to the world: 5th
GDP -composition ,by end use :
household consumption: 36.8%
government consumption: 14%
investment in fixed capital: 46%
investment in inventories: 1.1%
exports of goods and services: 23.9%
imports of goods and services: -21.7%
(2014 est.)
GDP-composition,by sector of origin :
agriculture: 9.2%
industry: 42.6%
services: 48.2%
(2014 est.)
Agriculture-products:
world leader in gross value of agricultural output; rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton, oilseed; pork; fish
Industries:
world leader in gross value of industrial output; mining and ore processing, iron, steel, aluminum, and other metals, coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizers; consumer products (including footwear, toys, and electronics); food processing; transportation equipment, including automobiles, rail cars and locomotives, ships, aircraft; telecommunications equipment, commercial space launch vehicles, satellites
Industrial production growth rate :
7% (2014 est.)
country comparison to the world: 27th
Labor force:
801.6 million
(note: by the end of 2012, China's population at working age (15-64 years) was 1.0040 billion (2014 est.)) ,country comparison to the world: 1st
Labor force -by occupation:
agriculture: 33.6%
industry: 30.3%
services: 36.1%
(2012 est.)
Unemployment rate :
4.1% (2014 est.)
4.1% (2013 est.)
note: data are for registered urban unemployment, which excludes private enterprises and migrants
country comparison to the world: 36th
Population below poverty line:
6.1% , (note: in 2011, China set a new poverty line at RMB 2300 (approximately US $400) (2013) )
Household income or consumption by percentage share :
lowest 10%: 1.7%
highest 10%: 30%
note: data are for urban households only (2009)
Distribution of family income --Gini index :
46.9 (2014 est.)
47.3 (2013 est.)
country comparison to the world: 26th
Budget:
revenues: $2.285 trillion
expenditures: $2.469 trillion (2014 est.)
Taxes and other revenues :
22.1% of GDP (2014 est.)
country comparison to the world: 145th
Budget surplus (+) or defficit (-):
-1.8% of GDP (2014 est.)
country comparison to the world: 112nd
Public debet:
15.1% of GDP (2014 est.)
15.3% of GDP (2013 est.)
note: official data; data cover both central government debt and local government debt, which China's National Audit Office estimated at RMB 10.72 trillion (approximately US$1.66 trillion) in 2011; data exclude policy bank bonds, Ministry of Railway debt, China Asset Management Company debt, and non-performing loans ,country comparison to the world: 137th
Fiscal year: calendar year
Inflation rate ( consumer prices):
2% (2014 est.)
2.6% (2013 est.)
Central bank disount rate :
2.25% (31 December 2014 est.)
2.25% (31 December 2013 est.)
country comparison to the world: 115th
Commercial bank prime lending rate :
5.6% (31 December 2014 est.)
6% (31 December 2013 est.)
country comparison to the world: 132nd
Stock of narrow money:
$5.667 trillion (31 December 2014 est.)
$5.528 trillion (31 December 2013 est.)
country comparison to the world: 2nd
Stock of broad money:
$20 trillion (31 December 2014 est.)
$18.13 trillion (31 December 2013 est.)
country comparison to the world: 1st
Stock of domestic credit:
$13.3 trillion (31 December 2014 est.)
$15.19 trillion (31 December 2013 est.)
country comparison to the world: 3nd
Market value of publicly traded share:
$6.065 trillion (31 December 2014 est.)
$6.499 trillion (31 December 2013)
$5.753 trillion (31 December 2012 est.)
country comparison to the world: 3rd
Current account balance :
$219.7 billion (2014 est.)
$182.8 billion (2013 est.)
country comparison to the world: 2nd
Exports:
$2.343 trillion (2014 est.)
$2.209 trillion (2013 est.)
country comparison to the world: 1st
Exports - commodities :
electrical and other machinery, including data processing equipment, apparel, furniture, textiles, integrated circuits
Exports - partners:
US 16.9%, Hong Kong 15.5%, Japan 6.4%, South Korea 4.3% (2014 est.)
Imports:
$1.96 trillion (2014 est.)
$1.95 trillion (2013 est.)
country comparison to the world: 3rd
Imports - commodities:
electrical and other machinery, oil and mineral fuels; nuclear reactor, boiler, and machinery components; optical and medical equipment, metal ores, motor vehicles; soybeans
Imports - partners :
South Korea 9.7%, Japan 8.3%, US 8.1%, Taiwan 7.8%, Germany 5.4%, Australia 5% (2014 est.)
Reserves of foreign exchange and gold :
$3.899 trillion (31 December 2014 est.)
$3.88 trillion (31 December 2013 est.)
country comparison to the world: 1st
Debet - external :
$894.9 billion (31 December 2014 est.)
$863.2 billion (31 December 2013 est.)
country comparison to the world: 17th
Stock of direct foreign investment -at home :
$1.287 trillion (31 December 2014 est.)
$956.8 billion (31 December 2013 est.)
country comparison to the world: 5th
Stock of direct foreign investment -abroad :
$646.3 billion (31 December 2014 est.)
$613.6 billion (31 December 2013 est.)
country comparison to the world: 12nd
Exchange rate :
Renminbi yuan (RMB) per US dollar -
6.14 (2014 est.)
6.2 (2013 est.)
6.31 (2012 est.)
6.46 (2011 est.)
6.77 (2010 est.)
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