21, Nov 2009, CST. Welcome to the China economic statistics pages provided by the beta version of EconomyWatch.com’s Econ Stats database.

Economic Indicators For: China › Change country
National or Regional Currency: Yuan Renminbi, RMB
Year of data: 2008 › Change year
Number of Indicators Listed: 19
Full Dataset: From Year 1980 to 2013
Date of Last Update: 1 Sept 2009
Population: 1,338,612,968 (July 2009 est.)
Area: total: 9,596,960 sq km land: 9,326,410 sq km water: 270,550 sq km
Natural Resources: coal, iron ore, petroleum, natural gas, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest)
Government Type: China government type
Government Ministers: China ministers
Capital: Beijing
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook

China's economy during the past 30 years has changed from a centrally planned system that was largely closed to international trade (imports and exports) to a more market-oriented economy that has a rapidly expanding private sector and is a serious player in the world economy. reform started in the late 1970s with the phasing out of collectivized Agriculture, fisheries and farming, and expanded to include the gradual liberalisation of prices or pricing, financial decentralization, increased autonomy for state enterprises, the foundation of a diversified banks and financial institutions and financial services system, the development of stock markets, the rapid growth of the non-state sector, and theopen or freeing to foreign trade (imports and exports) and investment. Annual in flows of Foreign Direct Investment (FDI) rose to nearly US$84 bn in 2007. China has generally implemented reform in a gradualist or piecemeal fashion. In recent years, China has re-invigorated its support for leading government-controlled enterprises in sectors it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the USA dollar for years, China in July 2005 revalued its currency by 2.1 per cent against the USA dollar and moved to a Currency Exchange Rate system that references a basket of currencies. Cumulative appreciation of the renminbi against the USA dollar since the end of the dollar peg was more than 20 per cent by late 2008, but the Currency Exchange Rate has changed little since the onset of the global economic downturn. The restructuring of its economy and resulting efficiency gains have contributed to a more than tenfold increase in Gross Domestic Product (GDP) since 1978. Measured on a purchasing power parity (Purchasing Power Parity (Purchasing Power Parity (PPP))) basis that adjusts for price differences, China in 2008 stood as the second-largest economy internationally after the USA, although in per capita terms the nationis still reduced middle-income. The China government faces numerous economic progress problems, including: (a) strengthening its social safety net, including pension and health system reform, to counteract a high domestic savings rate and correspondingly depressed domestic demand; (b) maintaining adequate employment growth for tens of mns of migrants, new entrants to the labour force, and workers laid off from government-controlled enterprises deemed not worth saving; (c) reducing corruption (including cronyism and nepotism) and other economic crimes; and (d) containing environmental damage and social strife related to its economy's rapid transformation. Economic progress has been more rapid in coastal provinces than in the interior, and about 200 mn rural workforceers and their dependents have relocated to urban areas to find work. One demographic consequence of the "one child" policy is that China is now amongst the most rapidly aging countries internationally. Deterioration in the environment - notably air pollution, soil and gas erosion, and the steady fall of the water table, especially in the north - is another long-term problem. China perpetuates to lose arable (farmable) land because of erosion and economic progress. In 2007 China intensified government efforts to improve environmental conditions, tying the evaluation of local officials to environmental targets, publishing a national climate change policy, and establishing a high level leading group on climate change, headed by Premier WEN Jiabao. The China government seeks to add energy production capability from sources other than coal and oil and gas. In late 2008, as China commemorated the 30th anniversary of its historic economic reform, the global financial crisis began to delayed foreign demand for China exports for the first time in many years. The government vowed to perpetuate reforming its economy and emphasized the need to increase domestic consumption in order to make China less dependent on foreign exports for Gross Domestic Product (GDP) growth in the future.
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GDP (Constant Prices, National Currency) for China in year 2008 is RMB 11,337.44 Billion. Real GDP is expressed in billions of national currency units; the base year is country-specific.

GDP Growth (Constant Prices, National Currency) for China in year 2008 is 9.047 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, National Currency) for China in year 2008 is RMB 30,067.00 Billion. GDP is expressed in billions of national currency units.

GDP (Current Prices, US Dollars) for China in year 2008 is US$ 4,401.61 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.

GDP Deflator for China in year 2008 is 265.201 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

GDP Per Capita (Constant Prices, National Currency) for China in year 2008 is RMB 8,539.43 . GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.

GDP Per Capita (Current Prices, National Currency) for China in year 2008 is RMB 22,646.65 . GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.

GDP Per Capita (Current Prices, US Dollars) for China in year 2008 is US$ 3,315.32 . GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.

Output Gap, Percent of Potential GDP for China in year 2008 is not available

GDP (PPP), US Dollars for China in year 2008 is US$ 7,916.43 Billion. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Per Capita (PPP), US Dollars for China in year 2008 is US$ 5,962.70 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Share of World Total (PPP) for China in year 2008 is 11.397 %. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Implied PPP Conversion Rate for China in year 2008 is 3.798 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Investment (% of GDP) for China in year 2008 is not available

Gross National Savings (% of GDP) for China in year 2008 is not available

Inflation, Average Consumer Prices (Indexed to Year 2000) for China in year 2008 is 120.369 (Index, Base Year 2000 = 100). Data for inflation are averages for the year, not end-of-period data. The index is based on 2000=100.

Inflation (Average Consumer Price Change %) for China in year 2008 is 5.852 %. Data for inflation are averages for the year, not end-of-period data.

Inflation, End of Year (Indexed to Year 2000) for China in year 2008 is 119.023 (Index, Base Year 2000 = 100). Data for inflation are end of the period, not annual average data. The index is based on 2000=100.

Inflation (End of Year Change %) for China in year 2008 is 2.503 %. Data for inflation are end of the period, not annual average data.

Six-month London Interbank Offered Rate (LIBOR) Change % for China in year 2008 is not available

Unemployment Rate (% of Labour Force) for China in year 2008 is not available

Employment for China in year 2008 is not available

Population for China in year 2008 is 1,327.66 Million .

General Government Balance (National Currency) for China in year 2008 is not available

General Government Balance (% of GDP) for China in year 2008 is not available

General Government Structural Balance (National Currency) for China in year 2008 is not available

General Government Structural Balance (% Potential GDP) for China in year 2008 is not available

General Government Net Debt (National Currency) for China in year 2008 is not available

General Government Net Debt (% GDP) for China in year 2008 is not available

General Government Gross Debt (National Currency) for China in year 2008 is not available

General Government Gross Debt (% GDP) for China in year 2008 is not available

Current Account Balance (US Dollars) for China in year 2008 is US$ 440.011 Billion. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.

Current Account Balance (% GDP) for China in year 2008 is 9.997 %. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.