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The 14th Five-Year Plan of China, officially the 14th Five-Year Plan for Economic and Social Development and Long-range Objectives Through the Year 2035 of the People's Republic of China, is a set of economic goals designed to strengthen the Chinese economy between 2021 and 2025. It was drafted during the fifth plenum of the 19th Central ...
China's was the only major world economy to experience GDP growth in 2020, when its GDP increased by 2.3%. [ 95] However, it posted one of its worst economic performances in decades because of COVID-19 in 2022. [ 96] In 2023, IMF predicted China to continue being one of the fastest growing major economies. [ 97]
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
China's economy likely perked up slightly in the fourth quarter, enabling the government to hit its growth target after the previous year's miss, but the outlook for 2024 remains shaky amid a ...
It was the beginning of an era the World Bank has called “the fastest sustained expansion by a major economy in history.” China’s real annual GDP growth surged an average of 9.5% between ...
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history. [ 1]: 11.
List of 31 provincial-level administrative divisions in mainland China by Nominal GDP in 2023 (billions of GDP) [ 1] Average exchange rate in 2023: CNY 7.0467 per U.S. dollar [ 2] (PPP no longer included in the table for frequent changes in its index) Rank. Provinces.
The gross domestic product of China in 2019 was CN¥ 99.08651 trillion, [ 4] or US$ 14.4 trillion (nominal). [ 5] China's nominal GDP surpassed that of Italy in 2000, France in 2005, the United Kingdom in 2006, Germany in 2007, Japan in 2010 and that of the Eurozone in 2018 making China the world's third largest economy after the European Union ...