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Economy of China

China, short of Republic of China, is an independent nation located in East Asia. With estimated population of more than 1.35 billion, it is the most populous nation all across the globe. After the late 1970s China has progressed from a barred and centrally planned economic system to more of a market-oriented structure to play central universal role. In the year 2013, China became the largest exporter of the world only because of its economic reforms and stability. Based upon purchasing power parity (PPP), China was at the second spot in terms of largest economy, just behind the United the States of America. The estimated GDP of China in terms of purchasing power parity (PPP) was $13.37 trillion in the year 2013. Beijing is the capital while Shanghai is the largest city of China. China is also leading its way in gross value of agricultural output, commodities like rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton are found in massive range here. In terms of industrial output, China stands above all other countries. Industrial sector of China consists of mining, ore processing, aluminum, petroleum, cement, chemicals, footwear, toys, transportation equipment, locomotives, aircraft, automobiles and rail cars. China has a calendar year system for handling the monetary affairs of country.

Imports of China

The estimated imports of China were $1.772 trillion as per the statistics collected in the year 2013, which is the third highest in the world. The major import commodities of China include electronics, apparel and textiles, iron, steel, machinery components, automobiles, optical medical equipment, metal ores and soybeans. Germany, United States of America, Australia, Japan, South Korea are the countries that are known as the prominent import partners of China.

Exports of China

China is regarded as the largest exporter of the world, and the estimated exports of $2.21 trillion in the year 2013 was the true reflection of why China stand above all the other countries. The notable export partners of China include Hong Kong, United States of America, Japan and South Korea as per the estimation of 2013. Machinery, apparel, radio telephone handsets, textiles, integrated circuits are the major exports of China.

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Capital
Beijing
Dialing Code
+86
Fiscal Year
Calendar Year
Currency
Yuan Renminbi (CNY)
GDP
$7,973,000,000,000
Exports
$1.898 trillion (2011 est.) | Electrical And Other Machinery, Including Data Processing Equipment, Apparel, Textiles, Iron And Steel, Optical And Medical Equipment
Imports
$1.743 trillion (2011 est.) | Electrical And Other Machinery, Oil And Mineral Fuels, Optical And Medical Equipment, Metal Ores, Plastics, Organic Chemicals
Industries
World Leader In Gross Value Of Industrial Output; Mining And Ore Processing, Iron, Steel, Aluminum, And Other Metals, Coal; Machine Building; Armaments; Textiles And Apparel; Petroleum; Cement; Chemicals; Fertilizers; Consumer Products, Including Footwear, Toys, And Electronics; Food Processing; Transportation Equipment, Including Automobiles, Rail Cars And Locomotives, Ships, And Aircraft; Teleco