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China's Economy

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15 views18 pages

China's Economy

Uploaded by

deepanshu90509
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CHINA’S

ECONOMY
大家好
Let’s Start
 China’s Capital City:  China’s President:
Beijing Xi Jinping (2012-Present)
AGENDA
After the presentation you will know:
 The kind of Economy in China
 Size of the Economy
 GDP and Major industries
 Employment trends and International trades
 Inflation rate and Population
 History of Development of China
 Challenges and Opportunities
 Role of government and Central Banks
Kind of Economy in China??

China has a mixed economy.


This means that its economic
growth is dependent upon
actions within the free market
and government spending and
regulation. China's economy is
based on production from
private companies, as well as
that from state-owned
enterprises (SOEs).
Size of the Economy
1,411,750,000 (31 December 2022 est.) $19.373 trillion (nominal; 2023 est.)

China stands as
the Second
largest
Economy in
World.
GDP OF CHINA
Statistics

GDP $19.373 trillion (nominal; 2023 est.) $33.014 trillion (PPP; 2023 est.)

GDP rank 2nd (nominal; 2023) 1st (PPP; 2023)

GDP growth 8.4% (2021) 3.0% (2022) 5.2% (2023f) 4.5% (2024f)

GDP per capita $13,721 (nominal; 2023 est.) $23,382 (PPP; 2023 est.)
Major Industries in China
China is the world’s largest manufacturing economy and exporter of goods .
China’s cotton textile industry is the largest in the world , producing yarn cloth ,
woolen piece goods and etc.
China is also the world's largest consumer of numerous commodities.
The major sectors and industries driving growth for China include the services
sector, agriculture, manufacturing, and technology.

Some industries of China:


China National Cotton Group Xinjiang Cotton
Ltd Co.
Xinjiang Lihua Group.
Hubei Yin feng Cotton.
Xinjiang Guo xin Seed Industry Co.
Xinjiang Guo tai Cotton Industry Co.
Xinjiang Jia shenghua Cotton Industry Co.
Employment
Trends
China’s changing demographics are
expected to significantly change the makeup
of the country’s workforce over the coming
decades.
 One important change is the steady
increase in its working age population. As
mentioned above, the average age of China’s
labor force increased from 37.1 in 2017 to
38.4 in 2022.
China’s population dropped for the first
time in decades in 2022, dropping by around
850,000 people decline will also mean that
China’s labor force will begin to shrink.
China is currently focusing on upgrading its
traditional industries and mitigating the risks
of a shrinking workforce by investing in
further automation and digitalization.
International
Trades in
China
China is the world's largest exporter and
the second-largest importer. The trade
surplus with the US has been a hot topic
in recent years. China has also been
increasing its trade with other
countries, including those in Africa and
Latin America.
Inflation Rate
Inflation is an important factor
in any economy. In China, the
inflation rate has been
relatively stable in recent
years, hovering around 2%.
However, there are concerns
about rising inflation due to
factors such as increased
demand and rising costs. It is
important to monitor inflation
rates closely to ensure
economic stability.
Population of China
China has the world's largest
population with over 1.4
billion people. However, the
population is aging rapidly,
with a declining birth rate and
a growing elderly population.
This trend has important
implications for the economy,
including concerns about a
shrinking workforce and rising
healthcare costs.
History Of China’s Economy
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.
China has been the fastest growing
economy in the world since the
1980s, with an average annual growth
rate of 10% from 1978 to 2005, based
on government statistics. Its GDP
reached $USD 2.286 trillion in 2005.
Mao Era in China
Despite political upheavals during the Mao era, China's GNP grew an
average of 6.2% annually over the period 1952–1978. Industrialization
during the Mao era resulted in the significant accumulation of both physical
and human capital, which laid the foundation for China's successful reforms.

Cultural Revolution
1966-76

Period of Readjustment
1979-81
Challenges in China
 China's Domestic Challenges  Challenges of China
• Political Reform and the Future
of the Chinese Communist Party.
in 2023
• Corruption and Localized  falling birth rate
Unrest.
 high youth
• Human Rights and Religious
Freedom. unemployment
• Demographic Challenges.  persistent problems in
• Social Policy: Education, Health, the housing market.
and the Social Safety Net.
• Environmental Issues.
• China's Legal Reform.
Opportunities in China
Rounding out the list of the best
small business ideas in China for
2023 are:
Automation Control Products.
Supplemental Education
Import and Export.
Pharmaceuticals.

Health Products.
Ecological Environment
Construction.
Direct Marketing.
Internet Access.
Role of Government
in Economy

Since 1949, the Chinese


Government has been responsible
for planning and managing the
national economy.
Six major functions of
governments in market
economies. Governments
 provide the legal and social
framework
 maintain competition
 provide public goods and
services
 redistribute income
 correct for externalities
Central bank of China
The People's Bank of China is the
country's central bank, owned by the
State . It is responsible for carrying
out monetary policy and regulation of
financial institutions in mainland China
, as determined by the People's Bank
Law and the Commercial Bank Law. It
is a cabinet-level
executive department of the
State Council.
The bank was established on
December 1, 1948, based on the
consolidation of the Huabei Bank.
The other top Banks of China are:
 Industrial & Commercial Bank of
China (ICBC)
 China Construction Bank (CCB)
 Bank of China (BoC)
 Presentation by:  Information by:
Shreya Thakur Nischal
什雷亚 · 塔库尔 Deepanshu 深盘树

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