China Economy is the fastest growing economy in the world. China is the most populous country in the world with number of people crossing 1.298 billion in 2004. Data obtained from the World Bank shows a national growth rate of 0.8% during 1997-2003. China has adopted measures to curb its mounting population from exceeding at an alarming rate, as its growth rate is less than that of the world's as a whole.
The density of population in People's Republic of China is approx. 136 persons per sq. km while, Taiwan has a higher population density of 636 per sq km. Most of the people live in rural areas as only 39% of the people were living in urban areas during the preceding 10 years. Life expectancy at birth in China is still higher than most developing nations. Many people are estimated to have lived up to 71 years. Gross primary enrollment, which denotes the percent of school-age population, is 114 with both male and female enrolled equitably. Adult Literacy rate is 91%.
However, China is ranked very low in Human Development index having a rank of 94 in 177 countries of the world, in UNDP 2004 Report.
China Economy and Key Indicators
Although China is still among the developing countries with a relatively low per capita income, it has experienced tremendous economic growth since the late 1970s. After stagnating for two decades under the rigid authoritarianism of early communist rule, China Economy now has the world's fastest-growing economy.
In a recent report of Asian Development Bank, China's growth rate for the coming 2-3 years is predicted to be 8.5 % and above.
China's Gross National income according to World bank sources, was 1411.6 US $ billion in 2003 and the per capita income was US $ 1110 in the same year.
China’s Economy has been experiencing a faster rate of growth recently. Gross Domestic Product of the country as in the year 2006 has reached at 2.7 trillions in current US Dollar with an annual percentage growth rate of 10.7. Find growth rate of GDP in the country over various years:
