Economy of China
China is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, China may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, China exports around $2210 billion and imports roughly $1950 billion. 4.7% of population in the country are unemployed. The total number of unemployed people in China is 66,507,159. In China, 2% of the population lives below the poverty line. The percentage of citizens living below the poverty line in China is low, indicating that it has a stable economy. Investors should consider China to be a safe location for investments and other financial ventures. Government expenditure on education is 4.3% of GDP. The Gini Index of the country is 46.9. China is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. China has a Human Development Index (HDI) of 0.719. China has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for China is 2.267. The strength of legal rights index for China is 4. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.
The currency of China is Chinese yuan. The Chinese yuan is the base unit for a number of Chinese currencies, including the renminbi which is the currency of the People’s Republic of China. When referring to exchange rates with international currencies like the United States dollar and the Euro, the value of the renminbi is considered. The plural form of the word Chinese yuan is yuans. The symbol used for this currency is ¥, and it is abbreviated as CNY. The Chinese yuan is divided into Fen; there are 100 in one yuan.
The depth of credit information index for China is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, China has a credit rating score of AA-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, China has a credit rating score of A+, and the prospects of this rating are stable. According to the Moody's credit-rating agency, China has a credit rating score of Aa3, and the prospects of this rating are stable.
The prime lending rate of China's commercial banks is 6. In China, the institution that manages the state's currency, money supply, and interest rates is called People's Bank of China. Locally, the central bank of China is called 中国人民銀行. The average deposit interest rate offered by local banks in China is 2.8%.
China has a government debt of 24.8% of the country's Gross Domestic Product (GDP), as assessed in 2012.
The corporate tax in China is set at 25%. Personal income tax ranges from 5% to 45%, depending on your specific situation and income level. VAT in China is 17%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in China is $18088054 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in China was last recorded at $13 million. PPP in China is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in China is 9,181,204 billion. Based on this statistic, China is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in China. The Gross Domestic Product (GDP) per capita in China was last recorded at $6 million. The average citizen in China has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in China averaged 7.4% in 2014. According to this percentage, China is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of China.
Major industries in the country are world leader in gross value of industrial output, mining and ore processing, iron, steel, aluminum, and other metals, coal, machine building, armaments, textiles and apparel, petroleum, cement, chemicals, fertilizers, consumer products (including footwear, toys, and electronics), food processing, transportation equipment, including automobiles, rail cars and locomotives, ships, aircraft, telecommunications equipment, commercial space launch vehicles, satellites. The total labor force of China is 785,368,460 people, wherein 4.7% of population in the country are unemployed. The total number of unemployed people in China is 66,507,159. The Industrial Production growth rate of China is 7.3%.To read more about industrial information within China click on industry of China.
There are 1385905 km2 of arable land in China, and it comprises 14% of the country's total territory. There are 1504350 km2 of cultivated land in China. The country's major agricultural crops and products are world leader in gross value of agricultural output, rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton, oilseed, pork, fish.To read more about agriculture click on agriculture of China.