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China's economy during the past 30 years has changed from a centrally planned system that was largely closed to international trade to a more market-oriented economy that has a rapidly growing private sector and is a major player in the global economy. Reforms started in the late 1970s with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, the foundation of a diversified banking system, the development of stock markets, the rapid growth of the non-state sector, and the opening to foreign tr...  More..

Economy of China
SOURCE:
Currency Yuan
Fiscal Year 01 January - 31 December
GDP (PPP) $8.789 trillion (2009 est.)
GDP (per capita) $6,600 (2009 est.)
Exports $1.194 trillion (2009 est.)
Imports $921.5 billion (2009 est.)
Main Industries 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, and Aircraft; Telecommunications Equipment, Commercial Space Launch Vehicles, Satellites
Exports - Commodities Electrical and Other Machinery, Including Data Processing Equipment, Apparel, Textiles, Iron and Steel, Optical and Medical Equipment
Imports - Commodities Electrical and Other Machinery, Oil and Mineral Fuels, Optical and Medical Equipment, Metal Ores, Plastics, Organic Chemicals
Exports Partners US 17.7%, Hong Kong 13.3%, Japan 8.1%, South Korea 5.2%, Germany 4.1% (2008)
Imports Partners Japan 13.3%, South Korea 9.9%, Taiwan 9.2%, US 7.2%, Germany 4.9% (2008)

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