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Li Qiang's lack of governing experience might be the very reason China's President Xi Jinping elevated him to such a powerful position.
China GDP and Economic Data
Includes China real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about China economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of China best banks and safest banks are also available.
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International Reserves
USD 3,168.0 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 13,407.4 billion (2018, estimate)
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GDP (Purchasing Power Parity)
Intl$ 25,270.1 billion (2018, estimate)
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Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 14.2% | 9.6% | 9.2% | 10.6% | 9.5% | 7.9% | 7.8% |
| 2014 | 2015 | 2016 | 2017 | 2018* | ||
| 7.3% | 6.9% | 6.7% | 6.8% | 6.6% |
*Estimate
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GDP - composition by sector
- agriculture: 7.2%
- industry: 40.7%
- services: 52.2%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
2.1% (2017)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 1.4% | 2% | 1.6% | 2.1% | 2.3% |
*Estimate
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Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 4.1% | 4% | 3.9% | 3.8% | 3.8% |
*Estimate
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Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 41.1% | 44.2% | 46.8% | 50.6% | 55.6% |
*Estimate
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Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -2.8% | -3.7% | -3.9% | -4.8% | -6.1% |
*Estimate
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Government bond ratings
Standard & Poor's: A+
Moody's: A1
Standard & Poor's / Moody's
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Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 7,320.7 billion | USD 8,711.3 billion | USD 6,324.9 billion |
Largest companies
Bank of Ningbo, Weichai Power, China Fortune Land Development, Qingdao Haier, Bank of Nanjing, China National Building, Sinopharm Group, JD.com, Dongfeng Motor Group, Daqin Railway, BOE Technology Group, CNPC Capital, Guangzhou Automobile Group, CGN Power, Baoshan Iron & Steel, Bank of Beijing, CRRC, Baidu, Sunac China Holdings, Greenland Holdings Group, New China Life Insurance, Longfor Group Holdings, Bank Of Shanghai, China Merchants Shekou Industrial Zone Holdings, Beijing Shougang, Xinyu Iron & Steel, Sinotruk Hong Kong, China Communications Services, Kaisa Group Holdings, Jiangxi Bank, Zhongyuan Bank, Guangzhou Baiyunshan Pharmaceutical Holdings, Tahoe Group, Qingdao Rural Commercial Bank, Xiamen Xiangyu, China Development Bank Financial Leasing, China Merchants Expressway Network & Technology Holdings, Dali Foods Group, Financial Street Holdings, Haidilao International Holding, Fangda Carbon New Material, Hengyi Petrochemical Co., Ltd., Xinhu Zhongbao, China Eastern Airlines, Yanzhou Coal Mining, NetEase, Bank of Jinzhou, Huatai Securities, Hikvision, Shaanxi Coal Industry, Shanghai Electric Group, Shenzhen Overseas, Inner Mongolia Yili, Huishang Bank, Wanhua Chemical Group, China Coal Energy, China Everbright Bank, China Shenhua Energy, People's Insurance, China Telecom, China Communications Construction, China Railway Group, China Railway Construction, Poly Developments & Holdings Group, Midea Group, Gree Electric Appliances, Huaxia Bank, China Galaxy Securities, China International Marine, Bank of Tianjin, GD Power Development, Bank Of Guiyang, Jiangsu Hengrui Medicine, Jiangxi Copper, Bank of Changsha, Foshan Haitian Flavouring and Food, China International Capital, Bank Of Chengdu, China Longyuan Power, New Hope Liuhe, Everbright Securities, Jiangsu Zhongnan Construction Group, Liuzhou Iron & Steel, China National Chemical, Pinduoduo, Inner Mongolia Yitai Coal, Hengan International Group, Fuyao Glass Industry Group, Bank of Xi'an, China Shipbuilding Industry, BBMG, Hesteel, Yum China Holdings, Zhejiang Zheneng Electric Power, SDIC Power Holdings, Jiangsu Yanghe Brewery, Angang Steel, Harbin Bank, Rongsheng Petrochemical, CIFI Holdings Group, Guosen Securities, Hunan Valin Steel, Ctrip.com International, HNA Technology, China International Travel Service, China Molybdenum, Yango Group, Sino-Ocean Group Holding, Huadian Power International, Maanshan Iron & Steel, AVIC Capita, Focus Media Information Technology, ICBC, China Construction Bank, Agricultural Bank of China, Ping An Insurance Group, Bank of China, PetroChina, China Merchants Bank, Sinopec, Bank of Communications, Industrial Bank, Alibaba, Postal Savings Bank Of China (PSBC), Jinke Property Group, Shanxi Taigang Stainless, Contemporary Amperex Technology, NARI Technology Development, Bank of Chongqing, Zhongsheng Group Holdings, Greentown China Holdings, Bohai Leasing, 360 Security Technology, Shanghai International Airport, Legend Holding, China Tower Corp., Haitong Securities, China Southern Airlines, Guotai Junan Securities, BYD, Huaneng Power International, China Energy Engineering, Shanghai International Port, China Reinsurance Group, Guangzhou R&F, Materials Industry Zhongda Group, Hainan Airlines, Anta Sports Products, Bank of Zhengzhou, Beijing Capital Development, Bank Of Gansu, ENN Energy Holdings, Orient Securities, Yonghui Superstores, Chongqing Rural Bank, Xiamen International Trade Group, Meituan Dianping, Agile Group Holdings, Guangzhou Rural Commercial Bank, ZTE, Wens Foodstuff Group, Bank Of Hangzhou, Inner Mongolia Baotou Steel, Sany Heavy Industry, Hengli Petrochemical, Shanghai Construction, Datang International Power, Power Construction Corporation of China, Anhui Conch Cement, Fosun International, Kweichow Moutai, Bank Of Jiangsu, Suning.com, Xiaomi, China Yangtze Power, China Cinda Asset Management, Citic Securities, China Zheshang Bank, Metallurgical Corp of China, RiseSun Real Estate Development, China Hongqiao Group, Aluminum Corp of China, BAIC Motor, TCL, China Merchants Securities, Shanghai Pharmaceuticals, Shengjing Bank, China Gezhouba, Logan Property Holdings, China Grand Automotive Services, Cosco Shipping, Sansteel Minguang, Red Star Macalline Group, Founder Securities, SDIC Capital, China Zhongwang Holdings, Longi Green Energy Technology, Sinotrans Ltd., Bank of Qingdao, China Railway Signal & Communication, Muyuan Foodstuff, Bank of Jiujiang, Shanghai Ganglian E-Commerce Holdings, Unisplendour, Nanjing Iron & Steel, Ronshine China Holdings, Zhejiang Chint Electrics, China Petroleum Engineering, Want Want China, Vipshop Holdings, iQIYI, Tongling Nonferrous Metals, Jointown Pharmaceutical Group, Shanghai Pudong Development, Tencent Holdings, China State Construction Engineering, China Citic Bank, China Evergrande Group, SAIC Motor, China Life Insurance, China Minsheng Banking, China Vanke, Country Garden Holdings, China Pacific Insurance, Sunny Optical Technology Group, Sichuan Changhong Electric, AAC Technologies Holdings, Sumec Corporation, Digital China Group, AVIC International Holdings, Times Property Holdings, Luzhou Lao Jiao, Csc Financial, Luxshare Precision Industry, Zhejiang Longsheng Group, Kangmei Pharmaceutical, Chongqing Changan Auto, Tingyi Holding, Shenzhen Mindray Bio-Medical Electronics, Yunnan Baiyao Group, Wuliangye Yibin, Gemdale, Great Wall Motor, China Huarong Asset Management, Future Land Development Holdings, Xiamen C&D, S.F. Holding, Zijin Mining Group, China National Nuclear Power, GF Securities, Shenwan Hongyuan Group
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Current account balance by percentage of GDP
0.4 % (2018 estimate)
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Exports as percent of GDP (Exports of goods and services)
19.5% (2018)
Shares in world total merchandising export
12.77% (2018)
Shares in world total commercial services export
4.59% (2018)
Export commodities
Electrical and other machinery, including computers and telecommunications equipment, apparel, furniture, textiles
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Import commodities
Electrical and other machinery, including integrated circuits and other computer components, oil and mineral fuels; optical and medical equipment, metal ores, motor vehicles; soybeans
Exports - major partners
US 19%, Hong Kong 12.4%, Japan 6%, South Korea 4.5% (2017)
Imports - major partners
South Korea 9.7%, Japan 9.1%, US 8.5%, Germany 5.3%, Australia 5.1% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 133,710 million | USD 134,063 million | USD 139,043 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 196,149 million | USD 158,290 million | USD 129,830 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 51,117 million | USD 99,331 million | USD 130,876 million | USD 57,397 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business, from 1 - 189. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
31 out of 190 countries
Subcategories:
Starting a Business: 27 out of 190 countries
Dealing with Construction Permits: 33 out of 190 countries
Getting Electricity: 12 out of 190 countries
Registering Property: 28 out of 190 countries
Getting Credit: 80 out of 190 countries
Protecting Minority Investors: 28 out of 190 countries
Paying Taxes: 105 out of 190 countries
Trading across Borders: 56 out of 190 countries
Enforcing Contracts: 5 out of 190 countries
Resolving Insolvency: 51 out of 190 countries
World Bank - Doing Business 2019
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Global competitiveness ranking
28 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 100 / Score: 58.4 (Mostly unfree)
(100=totally free 0=totally repressed)
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Languages
Standard Chinese or Mandarin (official; Putonghua, based on the Beijing dialect), Yue (Cantonese), Wu (Shanghainese), Minbei (Fuzhou), Minnan (Hokkien-Taiwanese), Xiang, Gan, Hakka dialects, minority languages (see Ethnic groups entry)Note: Zhuang is official in Guangxi Zhuang, Yue is official in Guangdong, Mongolian is official in Nei Mongol, Uighur is official in Xinjiang Uygur, Kyrgyz is official in Xinjiang Uygur, and Tibetan is official in Xizang (Tibet)
Religions
Buddhist 18.2%, Christian 5.1%, Muslim 1.8%, folk religion 21.9%, Hindu < 0.1%, Jewish < 0.1%, other 0.7% (includes Daoist (Taoist)), unaffiliated 52.2% (2010 est.)Note: officially atheist (2010 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 1143.33 million | 1267.43 million | 1340.91 million | 1374.62 million | 1404.46 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 16.2% | 19.4% | 35.9% | 59.2% |
Literacy
Total population: 96.4%
Male: 98.2%
Female: 94.5%
Definition: age 15 and over can read and write (2015 est.)
% of population living on less than $3.10 a day
7% (last available estimate, 2015)
Inequality of wealth distribution (Gini index)
38.6 (last available estimate, 2015)
(0=perfect equality, 100=absolute inequality)
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Freedom House rating
Not Free
Political Rights: 7
Civil Liberties: 6 (2019)
(1 represents the most free, 7 the least free rating)
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Total telephone subscribers as % of population
Fixed: 12.8% Mobile: 115% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)
Mercer Cost of living index
Shanghai: 6th
Beijing: 8th
Shenzhen: 10th
Guangzhou: 17th
Nanjing: 27th
Chengdu: 30th
Tianjin: 32nd
Qingdao: 41st
Shenyang: 45th
(2019)
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CO2 emissions(Metric tons of CO2 per capita)
7.54 metric tons per capita (2014)
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World's Best Developed & Emerging Markets Banks
2010
World's Best US Regional Banks
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World's Best Global Banks
World's Best Internet Banks
2013
2012
2009
2004
World’s Best Treasury & Cash Management Providers
World's Best Supply Chain Finance Providers
2013
Safest Emerging Markets Banks
World's Best Subcustodian Banks
2012
World’s Best Investment Banks
2013
2012
2011
2010
2009
World's Safest
2015
2013
2012
World's Best Global Corporate And Consumer Banks
World’s Best Foreign Exchange Providers
2013
2010
2009
2006
World's Best Banks By Region
2012
2011
World's Best Banks
World’s Best Trade Finance Banks
2010
Stars of China
2015
2014
Best of…
2012
2011
2009
2005
2004
2003
World's Biggest Banks
2010
Additional Awards
2014
2013
2012
- Stars of China 2012: Corporate Winners
- Awards: World’s Safest Banks 2012
- EM Safest Banks: Safest Banks By Region
- Awards: Risk Management Providers 2012
- Emerging Markets' Safest Banks
- Winners’ Circle: Investment Banks
- Global Risk Management Providers 2012: Learning To Like Vanilla
- Stars of China 2012: Bank Winners
- Awards: Stars of China 2012
- Awards: Project Finance & Infrastructure
- Awards: World’s Biggest Banks 2012