Economic Data:
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Social Indicators
社會指標
Population of the People's Republic: 1.357 billion
Human Development Index (HDI)
0.719 Life Expectancy 79 years Mean Years of Schooling 7.5 years Gender Inequality Index 0.202 |
Internet Users (% of total population)
42.3% Homicide Rate (per 100,000) 1 Homelessness (% of population) 4.48% Prison Population (per 100,000) 121 |
Economic Indicators
經濟指標
GDP (nominal): US $9.24 trillion
Gross Domestic Product (PPP)
US $16.1 trillion Gross Domestic Product Per Capita (PPP) US $9,800 Gross Domestic Product Growth Rate 7.7% Gross Domestic Product Composition By Sector Services: 46.1% Industry: 43.9% Agriculture: 10% Unemployment Rate 4.1% |
Labour Force Size
797.6 million Inflation Rate 2.6% Gini Coefficient 47.0 Income Distribution Breakdown Highest 10%: 30% Lowest 10%: 1.7% g Population Below Poverty Line 6.1% |
Trading Flows
貿易流
Import/Export Surplus: +US $260 million
Exports Value:
US $2.21 trillion Major Export Partners: Hong Kong: 17.4% USA: 16.7% Japan: 6.8% South Korea: 4.1% Goods Exported: Electrical and other machinery, including data processing equipment, apparel, radio telephone handsets, textiles, integrated circuits International Trade (% of GDP): 58.7% Foreign Investment (% of GDP): 3.03% Private Capital Flows (% of GDP): -2.86% |
Imports Value:
US $1.98 trillion Major Import Partners: South Korea: 9.4% Japan: 8.3% USA: 7.8% Australia: 5.0% Goods Imported: Electrical and other machinery, oil and mineral fuels; nuclear reactor, boiler, and machinery components; optical and medical equipment, metal ores, motor vehicles; soybeans Net Official Development Assistance Received (% of GNI): -0.01% Remittances; inflows (% of GDP): 0.55% Total Reserves, minus gold (% of GDP): 0.25% |
Trading Blocs and Other Economic Affiliations
貿易集團和其他經濟兼職
Trading Blocs
貿易集團
China is not a member of any multilateral trading blocs, rather preferring to engage in bilateral trading agreements, internal free trade and economic liberalisation and economic affiliations with various intergovernmental economic organisations
Economic Affiliations
經濟兼職
Asia-Pacific Economic Cooperation (APEC)
World Bank Group of Twenty Group of Seven + Five World Trade Organisation (WTO) |
Members:
Australia, Brunei, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, Chinese Taipei, Hong Kong, China, Mexico, Papua New Guinea, Chile, Peru, Russia, Vietnam Description: APEC is an economic forum for 21 Pacific Rim member economies that seeks to promote free trade and economic cooperation throughout the Asia-Pacific Region. APEC aims to increase living standards through sustainable economic growth. Largely APEC serves as an economic forum wherein members can communicate with each other and create their own free trade agreements, allowing the creation of dialogue that previously the opportunity may not have been there to pursue. However, at times all nations engage in collective reduction of tariffs, for example, in 2012, APEC cut all tariffs on green-energy goods amongst member economies and reduced barriers to pursuing tertiary education in member economies. Members: 188 nations. Description: Provides loans to developing nations for capital programs. A United Nations international financial institution created by a treaty. According to its Articles of Agreement, all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of capital investment. Members: Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States Description: A forum for the governments and central bank governors from the world’s twenty largest economies (NOTE: Europe is represented by the European Commission and by the ECB). Collectively, the G-20 accounts for around 85% of Gross World Product, 80% of World Trade and 66% of world population. The heads of government or heads of state of each nation meat yearly at a heads of state meeting. It has replaced the G8 as the main economic council of wealthy nations. The purpose of the G20 is to coordinate macro-economic policies to ensure the stability of the global economy, to reform the financial sector and institutions, to improve cooperation between nations as to improve the regulation and overall stability of the worlds financial markets and to foster trade and development between member states. Members: G7 Permanent Members: Canada, France, Germany, Italy, Japan, United Kingdom, United States, European Union +5 Members: Brazil, China, India, Mexico, South Africa Description: The Group of Seven + Five is an international group that consists of the leaders of the heads of government from the G7 nations, plus the heads of government of the five leading emerging economies. The G7+5 was formed out of the Group of Seven – an organisation composed of the seven wealthiest developed countries on Earth by national net worth or GDP. The Group aims to foster economic relations between member states, and to provide a forum for the five largest developing economies to coordinate with the largest developed economies in order to foster international trade and investment. Members: 160 member states Description: The WTO is an organisation that intends to supervise and liberalise international trade. The organisation deals with the regulation of trade between participating countries by providing a framework for negotiating and formalising trade agreements. |
Free Trade Agreements
自由貿易協定
Association of South East Asian Nations (ASEAN) - China Free Trade Agreement (ACFTA)
China-Pakistan Free Trade Agreement China-Chile Free Trade Agreement China-New Zealand Free Trade Agreement China-Singapore Free Trade Agreement China-Peru Free Trade Agreement Mainland and Hong Kong Closer Economic and Partnership Agreement Mainland and Macau Closer Economic and Partnership Agreement China-Costa Rica Free Trade Agreement China-Iceland Free Trade Agreement China-Switzerland Free Trade Agreement |
Members:
Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, Phillipines, Singapore, Thailand, Vietnam, China Description: The Association of South East Asian Nations is a Free Trade Area (FTA) trading bloc supporting local, south east Asian manufacturing in all ASEAN countries, seeking to attract foreign investment and increase ASEAN’s competitive edge around the world through the removal of market barriers within ASEAN. In recent years, China-ASEAN trade has rapidly increased; between 2003 and 2008, trade with ASEAN grew from US$59.6bn to US $192.5bn. As such, China grew to be one of ASEAN’s largest trade partners. To increase trade, the FTA reduced tariffs on 90% of imported goods to zero. The average tariff rate on Chinese goods sold in ASEAN countries reduced from 12.8% to 0.6% in 2010, and ASEAN goods in China tariffs decreased from 9.8% to 0.1% The ASEAN-China Free Trade Agreement is now the largest free trade area in terms of population and third largest in terms of nominal GDP (US$6bn in 2008) behind the EU and NAFTA. The agreement came into force on January 1st, 2010. Signed July 2007, reducing trade barriers between the two nations. Trade has sharply increased, growing from $13bn in 2013 to $15bn in 2014. Signed October 2006. Mandates zero duty on 97% of products. Bilateral trade surged to US$17.4bn in 2009 up from $2.5bn in 2006, before the agreement was signed. In 2009, Chinese export amounted to 23% of Chilean exports. Signed April, 2008: the first FTA China signs with a developed country. 37% of Chinese exports to NZ and 35% of NZ exports to China were tariff free by 2008, all Chinese exports to New Zealand will be tariff free by 2016 and 96% of NZ exports to China will be tariff free by 2019. Mutual investment and trade in services will also increase. Signed October 2008. The agreement will accelerate the liberalisation of trade in goods and further liberalise the trade in services. Signed November 2009. Designed to eliminate obstacles to trade and investment between China and Peru. China is the second most important trade partner for Peru; accounting for 9.6% of Peruvian exports and 10.3% of Peruvian imports for a trade volume of $5.5bn in 2007. Trade has increased 33% since the signing of the Agreement. Signed June 2003. Gives Hong Kong companies and residents preferential access to the mainland Chinese market pursuant to qualifying products. It aims to eliminate tariff and non-tariff borders, achieve liberalisation of trade in services and promote trade and investment facilitation. Signed October 2003. Gives Hong Kong companies and residents preferential access to the mainland Chinese market pursuant to qualifying products. It aims to eliminate tariff and non-tariff borders, achieve liberalisation of trade in services and promote trade and investment facilitation. Signed August 2011. Costa Rica is China’s second largest trading partner in Central America, while China is the second largest trading partner of Costa Rica. In recent years, bilateral trade between the two countries has grown rapidly, over 112% Signed June 2014. Iceland is the first European country to sign an FTA with China. China will elimintate tariffs on 81.56% of Icelandic imports and Iceland will eliminate tariffs on 99.77% of Chinese imports. Icelandic companies are confident that the FTA will been prosperous relations between the two countries, and particularly allow for China to receive Icelandic seafood. Signed July 2014. China will eliminate tariffs on 96.5% of Swiss imports, allowing for cheaper Swiss goods including cheese, luxury watches, chemicals and fine machinery. Likewise, Switzerland will phase out tariffs on 99.7% of Chinese imports, mainly textiles, agricultural products, and industrial goods. Analysts predict that the Agreement will allow for China to overtake Germany as Switzerland’s largest export market by 2025. Chian is currently the largest importer of Swiss industrial goods in Asia, and is Switzerland’s third most important trading partner. Bilateral trade between China and Switzerland totalled more than US$22.5bn in 2013. |
Special Economic Zones (SEZs)
特別經濟特區
List of Special Economic Zones:
SEZ, Cities: Shenzen Zhuhai Shantou Xiamen Kashgar SEZ, Province: Hainan SEZ, Costal Development Areas: Dalian Qinhuangdao Tianjin Yantai Qingdao Lianyungungang Nantong Shanghai Ningbo Whenzhou Fuzhou Guangzhou Zhanjiang Beihai |
Description of Special Economic Zones:
A SA Special Economic Zone (SEZ) is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws. "Nationwide" laws may be suspended inside a special economic zone. The category 'SEZ' covers a broad range of more specific zone types, including Free Trade Zones(FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others. Usually the goal of a structure is to increase foreign direct investment by foreign investors, typically an international business or a multinational corporation (MNC). In the People's Republic of China, Special Economic Zones were founded by the central government under Deng Xiaoping in the early 1980s. The most successful Special Economic Zone in China, Shenzhen, has developed from a small village into a city with a population over 10 million within 20 years. Leong (2012) investigates the role of special economic zones (SEZs) in liberalising the Chinese and Indian economies and their impact on economic growth. The policy change to a more liberalised economy is identified using SEZ variables as instrumental variables. The results indicate that export and FDI growth have positive and statistically significant effects on economic growth in these countries. The presence of SEZs increases regional growth. |