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The economy of China

The economy of China

The People's Republic of China is the world's second largest economy and world's fastest-growing major economy. in the past 30 years, after the beginning of economic reform with opening-up policy, China boasts an average growth rates of 10% . China is also the largest exporter and second largest importer of goods in the world. In 2010, foreign direct investment into China surpassed $100 billion, and investment overseas by Chinese companies in non-financial sectors totaled $59 billion.

The country's per capita GDP (PPP) is $7,518 (according to IMF, 93rd in the world) in 2010. However, the regional economic development in China is not very balanced. The coastal provinces are more industrialized compared with their hinterland conterparts.

The coastal provinces usually have better human resources and industrial infrastructure. The three wealthiest regions are the Pearl River Delta Area (with Guangzhou, Shenzhen as the representative cities in this area) ,the Lower Yangtze River Delta Area (with Shanghai, Hangzhou, Suzhou as the representative cities in this area) and Beijing–Tianjin–Dalian region.

BRICS

About the BRICS

In economics, BRICS refers to a group of countries, namely, Brazil, Russia, India and China, four countries with massive potential. They features a similar stage of newly advanced economic development.

The BRIC Leaders