![]() ![]() Ĭhina is the largest recipient of foreign direct investment in the world as of 2020, receiving inflows of $163 billion. Historically, China was one of the world's foremost economic powers for most of the two millennia from the 1st until the 19th century. Ĭhina has four of the world's top ten most competitive financial centers and three of the world's ten largest stock exchanges (both by market capitalization and by trade volume). It is the largest trading nation in the world and plays a prominent role in international trade. China is a net importer of services products. ![]() China is also the world's largest consumer of numerous commodities, and accounts for about half of global consumption of metals. It is also the world's fastest-growing consumer market and second-largest importer of goods. Ĭhina is the world's largest manufacturing economy and exporter of goods. A forecast states that China will become the world's largest economy in nominal GDP by 2028. It recently overtook the economy of the European Union in 2021. It has been the second largest by nominal GDP since 2010, with data relying on fluctuating market exchange rates. China has the world's second largest economy when measured by nominal GDP, totaling around US$17.7 trillion (114.4 trillion yuan) in 2021, and the world's largest economy since 2016 when measured by Purchasing Power Parity (PPP). The economy consists of state-owned enterprises (SOEs) and mixed-ownership enterprises, as well as a large domestic private sector and openness to foreign businesses in a system officially described as a socialist market economy. The People's Republic of China has a high income developing market-oriented economy that incorporates economic planning through industrial policies and strategic five-year plans. All values, unless otherwise stated, are in US dollars. ![]()
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