The Chinese Economy
China has become one of the leading economic powers. In terms of GDP and trade it is within the top three countries in the world. Its overall standard of living is rising rapidly.
China has adopted a 5-year economic development since 1953. It is now on its 11th 5-year Paln (2006-2010). Development is divided into three sectors:
Primary Industry comprises agriculture,fishery, husbandry and forestry, Secondary Industry –manufacturing,gas and fuel, electricity,water and construction, and Tertiary Industry refers to service industries.
The Chinese economy is based on a socialist market economy model. It encourages economic development by ownership and at the same time a strong public sector. It establishes a open market system across China linking domestic and international markets. It encourages some people to prosper first and has a social-security system for both urban and rural residents.
To gradually open up in 1978 China set up special economic zone s in Shenzen, Zhuhai, Shantou, Xiamen and Hainan. It also included other special economic areas in border area cities where preferential policies are adopted.
The development of the Western region of China which is rich in resources is also important. The Western region comprises Chongqing ,Guizhou, Ningxia,Qinghai, Shaanxi, Sichuan, Tibet,Yunnan, Gansu, Guangxi and Inner Mongolia. This region has 30% of the population and 70% of total area.
China also has extensive overseas investment over more than 160 countries.Some say that China is on the right path to become the world’s leading economic power .
China has adopted a 5-year economic development since 1953. It is now on its 11th 5-year Paln (2006-2010). Development is divided into three sectors:
Primary Industry comprises agriculture,fishery, husbandry and forestry, Secondary Industry –manufacturing,gas and fuel, electricity,water and construction, and Tertiary Industry refers to service industries.
The Chinese economy is based on a socialist market economy model. It encourages economic development by ownership and at the same time a strong public sector. It establishes a open market system across China linking domestic and international markets. It encourages some people to prosper first and has a social-security system for both urban and rural residents.
To gradually open up in 1978 China set up special economic zone s in Shenzen, Zhuhai, Shantou, Xiamen and Hainan. It also included other special economic areas in border area cities where preferential policies are adopted.
The development of the Western region of China which is rich in resources is also important. The Western region comprises Chongqing ,Guizhou, Ningxia,Qinghai, Shaanxi, Sichuan, Tibet,Yunnan, Gansu, Guangxi and Inner Mongolia. This region has 30% of the population and 70% of total area.
China also has extensive overseas investment over more than 160 countries.Some say that China is on the right path to become the world’s leading economic power .
It is said the middle kingdom is rewriting the rules of trade, technology, currency, climate etc.
It is a China's World.
Economic data
GDP US4,400b, GDP per capita US$3,300, Number of households 411million, RMB per US dollar 6.82, Highest GDP Guangdong
Lowest GDP Tibet, Largest Trading Partner USA,
Economic data
GDP US4,400b, GDP per capita US$3,300, Number of households 411million, RMB per US dollar 6.82, Highest GDP Guangdong
Lowest GDP Tibet, Largest Trading Partner USA,
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