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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.
From 1979 until 2010, China's average annual GDP growth was 9.91%, reaching a historical high of 15.2% in 1984 and a record low of 3.8% in 1990. Based on the current price, the country's average annual GDP growth in these 32 years was 15.8%, reaching an historical high of 36.41% in 1994 and a record low of 6.25% in 1999.
According to preliminary data released by the authorities, China's GDP in 2023 was CN￥126.06 trillion (US$ 17.89 trillion [ 30]) with a real increase of 5.2% than the last year. [ 31] China is the world's largest manufacturing economy and exporter of goods. [ 32]
Gross domestic product (GDP) grew 4.9% in July-September from the year earlier, data released by the National Bureau of Statistics showed, versus analysts' expectations in a Reuters poll for a 4.4 ...
Gross domestic product (GDP) grew by 5.3% in the first quarter from a year ago, according to the National Bureau of Statistics on Tuesday. That beat the estimate of 4.6% growth from a Reuters poll ...
For 2023, the economy likely expanded 5.2%, partly helped by the previous year's low-base effect which was marked by COVID-19 lockdowns. The economy grew just 3% in 2022 due to strict COVID curbs ...
[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 has unveiled fiscal and monetary policy measures in a bid to achieve what analysts have described as an ambitious 2024 growth target, noting that last year's growth rate of 5.2% was likely ...