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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.
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.
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 ]
This is an alphabetical list of countries by past and projected gross domestic product (nominal) as ranked by the IMF. Figures are based on official exchange rates, not on the purchasing power parity (PPP) methodology. Values are given in millions of United States dollars (USD) and have not been adjusted for inflation.
The International Monetary Fund on Wednesday downgraded its 2023 and 2024 growth forecasts for the Asian giant, saying the property slowdown could cause China's GDP to decline.
The relative economic status of Europe and China during most of the Qing (1644–1912 AD/CE) remains a matter of debate, [ n 1] but a Great Divergence was apparent in the 19th century, [ 7] pushed by the Industrial and Technological Revolutions. [ 8]
The Five-Year Plans ( Chinese : 五年计划; pinyin : Wǔnián Jìhuà) are a series of social and economic development initiatives issued by the Chinese Communist Party (CCP) since 1953 in the People's Republic of China. Since 1949, the CCP has shaped the Chinese economy through the plenums of its Central Committee and national party congresses .
China's GDP growth slowed in the third quarter to 7.4% year-over year, reported the country's National Bureau of Statistics. This is down from 7.6% for the second quarter and 8.1% for the first ...