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Additional
Economy of China
English Wikipedia - The Free Encyclopedia
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Economy of China
China
's
socialist market economy
is the
world's second largest economy by nominal GDP
, and the
world's largest economy by purchasing power parity
according to the IMF, although China's National Bureau of Statistics rejects this claim. Until 2015 China was the world's
fastest-growing major economy
, with
growth rates averaging 10%
over 30 years, until it was surpassed by neighbouring
India
. Due to historical and political facts of China's developing economy, China's public sector accounts for a bigger share of the national economy than the burgeoning private sector.
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