China’s economy is a global financial marvel, but how can we really know how rich it is?
How much do you know about China?
Well, you can start with this handy guide.
We’ve compiled a wealth of facts you might not have known about China.
For instance, here’s how the country stacks up against the rest of the world: 1.
Most people in China earn about US$2,000 a month.
China has a gross domestic product (GDP) of $12 trillion, which means the country has the world’s sixth largest economy.
More than half of China’s workforce is either employed or on government payrolls, and more than half work in agriculture and forestry.
The average Chinese family has $1.5 million in wealth, and the median household income is $50,000.
China’s gross domestic products grew at an annual rate of 3.7 per cent in 2017, according the People’s Bank of China.
China accounts for half of all global oil reserves, and its exports have increased by more than 50 per cent from last year.
More Chinese people now live in cities than anywhere else in the world.
China produces more goods than it imports.
China is the second-largest importer of coal and oil after the United States.
China owns a quarter of the global coal reserves.
China imports around half of its food, including dairy products, meat and fish.
The country is the worlds biggest importer and exporter of wheat, rice, sugar, vegetables, fruits and nuts.
China consumes more greenhouse gas emissions per capita than any other country in the OECD.
China now has a GDP per capita of US$26,700, and a per capita income of $50.
China will overtake India as the world with the largest economy in 2021.
China had more than $400 billion in total investment last year, up from US$1.2 trillion in 2015.
China holds the top spot in global solar power capacity.
China was the world leader in carbon emissions last year and now has the second biggest market for coal in the entire world behind the United Kingdom.
China exported $1 trillion worth of goods in 2016.
The Chinese economy has grown by more and more in the past decade.
It was the fastest growing major economy in the industrialised world in the first half of the 21st century, with annual growth of 7.4 per cent.
China imported nearly one-third of the goods in the United Nations’ World Food Programme’s 2016 food aid budget.
The People’s Daily newspaper, China’s flagship tabloid, is the countrys largest circulation newspaper.
The party’s leadership has been the subject of widespread criticism for decades.
In fact, the newspaper has been a target of attacks from China’s right-wing Communist Party leadership.