Includes historical data for China’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
The World’s Second Largest Economy
With its vast labor market, China has been a key player in the global economic landscape for decades. Since the late 1970s, China has achieved an average annual GDP growth rate of over 9%. Over the same period, more than 800 million people were lifted out of poverty, and enjoyed better access to health, education and employment opportunities.
In recent years, China has been furthering its presence in emerging and developing countries through initiatives like the Belt and Road Initiative (BRI). At the same time, it remains the world’s second-largest FDI destination, following the United States. An upper-middle-income country, China is quickly progressing from a low-cost manufacturing economy to a high-value, innovation-driven economy. An aging population, trade and technological competition with the U.S., slowing growth and shifts in global supply chain dynamics are some of the challenges faced by China.
Macroeconomy & Sovereign Data
| Type of Government | One-Party State |
|---|---|
| Capital | Beijing |
| Sovereign Ratings |
S&P: A+ Moody’s: A1 Fitch: A+ |
| Total Population | 1.4 billion |
| Median Age | 39 |
| Adult Per Capita Income (PPP) | 28,321 |
| Total GDP (2023) | USD 18.6 trillion |
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Trade & Investment
| Total Exports | USD 2.3 trillion (2022) |
|---|---|
| Leading Exports |
Broadcasting Equipment Computers Integrated Circuits Office Machinery And Parts Telephones |
| Total Imports | USD 3.5 trillion (2022) |
| Leading Imports |
Crude Petroleum Integrated Circuits Iron Natural Gas Cars Gold |
| Source: | IMF, CIA The World Factbook |
China Leading Companies
| Industrial & Commercial Bank of China (ICBC) | Financials |
|---|---|
| Ping An Insurance Group | Financials, Insurance |
| PetroChina | Energy, Exploration & Production |
| Sinopec | Energy, Integrated Oil & Gas |
| Tencent Holdings | Technology, Communication Services |
| Alibaba | Consumer Discretionary |
| China Mobile | Telecommunication Services |
Major Trade Partners — Import
| South Korea | 10.4% |
|---|---|
| United States | 8.9% |
| Japan | 8.5% |
| Other Asia | 8.5% |
| Germany | 5.2% |
Major Trade Partners — Export
| United States | 17.7% |
|---|---|
| Hong Kong | 10.4% |
| Japan | 4.9% |
| South Korea | 4.4% |
| Vietnam | 4.1% |
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000