China with a population of 1.4 billion is most populous in the World and ranks 2nd in terms of GDP.
China has a GDP of $10.38 trillion.
It has a per capita income of $9844. The unemployment rate is 4.5 %. China follows the pattern of a socialist market economy. According to IMF, it has the second largest nominal GDP in the world the largest Purchasing power parity (similar to real GDP) in the world. China boasts of an average 10% growth rate and is considered the fastest growing major economy. What is unique about this country is that the public sector accounts for a greater share in the economy compared to the fast growing private sector. China has achieved this high GDP figures by becoming the largest manufacturing hub of the world. China is the world leader in manufacturing and the largest exporter of goods. Because of the high exports nature of the economy, China has kept its currency deliberately devalued so that trading nations find it attractive to buy from China. China became a member of World Trade Organisation (WTO) in 2001. Manufacturing and industry comprise nearly 47% of the contribution to GDP. The real estate comprises 20% of the country’s economy. Agriculture wise, although the land under cultivation is low but by practising intensive cultivation, China is not only able to feed its population but also able to export its agricultural produce. Agriculture contributes 10% to the economy. China is also the world's fastest growing consumer market and second largest importer of goods. China is a net importer of services products