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China's Main Page

Establishment of the Diversified-Ownership Economy

 

 

 

 

 

 


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Before the introduction of policies of reform and opening to the outside world, China had a unitary public ownership economy, which lacked vitality.  But since the putting into practice of the reform and opening to the outside world, the Chinese government has encouraged the development of diversified economic elements while insisting on the primacy of public ownership.  

As a result, both the individual and private economies have developed rapidly.  By the end of 1997, the registered industrial and commercial enterprises of individual and private ownership amounted to 29.47 million, and they had 65.87 million employees; Chinese-foreign joint ventures, Chinese-foreign cooperative enterprises and foreign ventures numbered 236.000, absorbing 303 billion yuan in foreign capital; registered joint-stock and joint-stock cooperative enterprises numbered 680,000, with 1,730.2 billion yuan in capital.  The development and expansion of these enterprises have played important roles in many aspects, such as bringing convenience to people's everyday lives, making up for the deficiency of construction funds, and introducing advanced technologies and management from abroad.  

At the same time the control of the public-ownership economy has been further strengthened.  In 1997, the gross domestic product turned out by the public-ownership economy amounted to 75.8 percent of the total GDP.  Now the mutual development pattern for diversified ownership with the public ownership economy as the mainstay has been basically formed.


Household income or consumption by percentage share:
lowest 10%: 3.5%
highest 10%: 15%
note: data are for urban households only (2008)
Distribution of family income - Gini index:
41.5 (2007)
country comparison to the world: 54
40 (2001)
Investment (gross fixed):
45.2% of GDP (2009 est.)
country comparison to the world: 3
Budget:
revenues: $1.002 trillion
expenditures: $1.111 trillion (2009 est.)
Public debt:
16.9% of GDP (2009 est.)
country comparison to the world: 109
15.6% of GDP (2008 est.)
Inflation rate (consumer prices):
-0.7% (2009 est.)
country comparison to the world: 14
6% (2008 est.)
Central bank discount rate:
2.79% (31 December 2008)
country comparison to the world: 125
3.33% (31 December 2007)
Commercial bank prime lending rate:
5.31% (31 December 2008)
country comparison to the world: 142
5.58% (17 December 2007)
Stock of money:
$2.434 trillion (31 December 2008)
country comparison to the world: 3
$2.09 trillion (31 December 2007)
Stock of quasi money:
$4.523 trillion (31 December 2008)
country comparison to the world: 4
$3.437 trillion (31 December 2007)
Stock of domestic credit:
$5.555 trillion (31 December 2008)
country comparison to the world: 4
$4.653 trillion (31 December 2007)
Market value of publicly traded shares:
$5.011 trillion (31 December 2009 est.)
country comparison to the world: 4
$2.794 trillion (31 December 2008)
$6.226 trillion (31 December 2007 est.)
Agriculture - products:
rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton, oilseed; pork; fish
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
Industrial production growth rate:
9.5% (2009 est.)
country comparison to the world: 5
Electricity - production:
3.451 trillion kWh (2008 est.)
country comparison to the world: 2
Electricity - consumption:
3.438 trillion kWh (2008 est.)
country comparison to the world: 2
Electricity - exports:
16.64 billion kWh (2008)
Electricity - imports:
3.842 billion kWh (2008)
Oil - production:
3.79 million bbl/day (2008)
country comparison to the world: 4
Oil - consumption:
7.999 million bbl/day (2008)
country comparison to the world: 3
Oil - exports:
388,000 bbl/day (2008 est.)
country comparison to the world: 32
Oil - imports:
4.393 million bbl/day (2008)
country comparison to the world: 4
Oil - proved reserves:
15.7 billion bbl (1 January 2009 est.)
country comparison to the world: 14
Natural gas - production:
76.1 billion cu m (2008)
country comparison to the world: 11
Natural gas - consumption:
80.7 billion cu m (2008)
country comparison to the world: 10
Natural gas - exports:
3.34 billion cu m (2008)
country comparison to the world: 30
Natural gas - imports:
4.44 billion cu m (2008)
country comparison to the world: 34
Natural gas - proved reserves:
2.46 trillion cu m (1 January 2009 est.)
country comparison to the world: 13

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