China is at second rank in the list of countries by GDP nominal. The nominal GDP of China is $11,383.030.
It is more than twice of the next in the list Japan & the GDP by purchasing power parity is $20,853.330. China has the largest economy in the world by purchasing power parity & the GDP per capita is $13,801 of China.
China lost its place to India as the world's fastest growing major economy in the third quarter of 2015-16. China is the most populous country in the world at 1374.62 million people of which 77451 tens of thousands are employed. The unemployment rate in China is 4.04 percent. The inflation rate is 2.30% and interest rate is at 4.35%. Corporate tax is levied at 25%.
The export of China accounts for $2.282 trillion. Its main export partners are United States, Hong Kong, Japan and South Korea. China exported electronic equipment worth US$ 600.3 billion constituting 26.3% of total exports. Next comes in export list machinery worth $ 364.5 billion (16% of total exports).
Its total import accounts for $1.682 trillion. Main import partners of China are South Korea, Japan, United States and Taiwan. China imported electronic equipment worth US$ 431.6 billion constituting 25.7% of total imports. Next comes in import list oil worth $ 198.7 billion (11.8% of total imports).
The low wages, relaxed norms, lower taxes and good business ecosystem has helped China as the manufacturing hub of the world. Almost all big companies of the world have manufacturing unit in China.