Chinese Economy

A Chinese Economy is a national economy within a China.

• Context:
  • It can (typically) be composed of a Chinese Manufacturers, ...
  • It can (typically) can have a Chinese Labor Market (of Chinese workers and Chinese employers).
  • It can (typically) be regulated by Chinese Economic Regulations.
  • It can (often) be measured by a Chinese Economic Measure, such as Chinese GDP.
  • It can (often) be modeled as a Socialist Market Economy.
  • It can have Chinese Capitalists, ...
  • …
• Example(s):
  • a 1873 Chinese Economy.
  • a 1929 Chinese Economy.
  • a 2013_Chinese Economy.
  • …
• Counter-Example(s):
  • a World Economy.
  • an European Economy.
  • a German Economy, U.S. Economy, Canada Economy.
  • a Guangdong Economy.
  • a Shanghai Bay Area Economy.
• See: Chinese Household, Social Market Economy, ASEAN.

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References

2022

• (Wikipedia, 2022) ⇒ https://en.wikipedia.org/wiki/Economy_of_China Retrieved:2022-10-2.
  • The People's Republic of China has a high income developing market-oriented economy that incorporates economic planning through industrial policies and strategic five-year plans. The economy consists of state-owned enterprises (SOEs) and mixed-ownership enterprises, as well as a large domestic private sector and openness to foreign businesses in a system officially described as a socialist market economy. China has the world's second largest economy when measured by nominal GDP, totaling around US$17.7 trillion (114.4 trillion yuan) in 2021, and the world's largest economy since 2016 when measured by Purchasing Power Parity (PPP). It has been the second largest by nominal GDP since 2010, with data relying on fluctuating market exchange rates. It recently overtook the economy of the European Union in 2021. A forecast states that China will become the world's largest economy in nominal GDP by 2028.

    China is the world's largest manufacturing economy and exporter of goods. It is also the world's fastest-growing consumer market and second-largest importer of goods. China is also the world's largest consumer of numerous commodities, and accounts for about half of global consumption of metals. China is a net importer of services products. It is the largest trading nation in the world and plays a prominent role in international trade.

    China has four of the world's top ten most competitive financial centers and three of the world's ten largest stock exchanges (both by market capitalization and by trade volume).

    Historically, China was one of the world's foremost economic powers for most of the two millennia from the 1st until the 19th century. Maddison, Angus (2008). Chinese Economic Performance in the Long Run: 960-2030 AD. Organization for Economic Cooperation and Development. pp. 43. ISBN 978-9264037625.</ref>

    China is the largest recipient of foreign direct investment in the world as of 2020, receiving inflows of $163billion. It has the second largest outward foreign direct investment, at US$136.91 billion for 2019 alone, following Japan at US$226.65billion for the same period. China is the wealthiest nation in the world. As of 2018, China was first in the world in total number of billionaires and second in millionairesthere were 658 Chinese billionaires and 3.5 million millionaires. According to the 2019 Global Wealth Report by Credit Suisse Group, China surpassed the US in the wealth of the top ten percent of the world's population. China has the world's largest foreign-exchange reserves worth $3.1 trillion, but if the foreign assets of China's state-owned commercial banks are included, the value of China's reserves rises to nearly $4 trillion.

    With 778 million workers, the Chinese labor force was the world's largest as of 2020. It ranks 28th on the Global Competitiveness Report. Per the Global Innovation Index in 2022, China was ranked 11th, 3rd in Asia & Oceania region and 2nd for countries with a population of over 100 million. It is the only middle-income economy and the only newly industrialized economy in the top 30. China ranks No.1 globally in patents, utility models, trademarks, industrial designs, and creative goods exports. It also has two (Shenzhen-Hong Kong-Guangzhou and Beijing in the 2nd and 3rd spots respectively) of the global top5 science and technology clusters, which is more than any other country. As of March 2022, China has over 500 million 5G users and 1.45 million base stations installed.

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