Before1978, China's economy had a
weak foundation in agriculture, and the ratio between
light and heavy industries was unbalanced. Since
1978, China has adopted a series of policies and measures
giving priority to the development of light industry,
expanding the import of top-quality consumer goods,
strengthening the construction of basic industry and
facilities, and devoting major efforts to developing
tertiary industry, so as to make China's economic
structure more coordinated, optimized and balanced.
The relations between different
industries and within industries in terms of proportion
have clearly been improved; the proportion of primary
industry has declined, while that of the secondary and
tertiary industries has grown; the growth of the overall
national economy was driven formerly by the primary and
secondary industries, but now it is being driven by the
secondary and tertiary industries. Actually the
growth of secondary industry becomes the main engine of
rapid development for China's economy.
While
the whole industrial structure is changing, the internal
structure of every industry has also changed greatly.
In the total output value of agriculture, forestry, animal
husbandry and fisheries, the proportion of
pure-agricultural output value has declined, while that of
forestry, animal husbandry and fisheries has grown; the
structure of light and heavy industries has escalated from
the light pattern structure stressing "consumption
compensation" to the heavy-pattern structure of
"investment guidance"; within the tertiary
industry the proportion of the traditional industries,
such as communications, transportation and commerce, has
declined, while real estate, banking and insurance, and
telecommunications, have developed rapidly.
Current
account balance:
|
$297.1 billion (2009 est.)
country
comparison to the world: 1
$426.1 billion (2008 est.)
|
|
Exports:
|
$1.204 trillion (2009 est.)
country
comparison to the world: 2
$1.435 trillion (2008 est.)
|
|
Exports -
commodities:
|
electrical and other machinery,
including data processing equipment, apparel,
textiles, iron and steel, optical and medical
equipment
|
|
Exports - partners:
|
US 17.7%, Hong Kong 13.3%,
Japan 8.1%, South Korea 5.2%, Germany 4.1% (2008)
|
|
Imports:
|
$954.3 billion (2009 est.)
country
comparison to the world: 4
$1.074 trillion (2008 est.)
|
|
Imports -
commodities:
|
electrical and other machinery,
oil and mineral fuels, optical and medical
equipment, metal ores, plastics, organic chemicals
|
|
Imports - partners:
|
Japan 13.3%, South Korea 9.9%,
Taiwan 9.2%, US 7.2%, Germany 4.9% (2008)
|
|
Reserves of
foreign exchange and gold:
|
$2.422 trillion (31 December
2009 est.)
country
comparison to the world: 1
$1.953 trillion (31 December
2008 est.)
|
|
Debt -
external:
|
$347.1 billion (31 December
2009 est.)
country
comparison to the world: 22
$400.6 billion (31 December
2008 est.)
|
|
Stock of
direct foreign investment - at home:
|
$456.3 billion (31 December
2009 est.)
country
comparison to the world: 10
$378.1 billion (2007 est.)
|
|
Stock of direct
foreign investment - abroad:
|
$191.8 billion (31 December
2009 est.)
country
comparison to the world: 18
$147.9 billion (31 December
2008 est.)
|
|
Exchange
rates:
|
Renminbi yuan (RMB) per US
dollar - 6.8249 (2009), 6.9385 (2008), 7.61
(2007), 7.97 (2006), 8.1943 (2005)
|
|
Extra
Information
|
Defense
Expenditures
($
billion) |
2002 |
2001 |
US |
294.7 |
322.4 |
Russia |
58.8 |
63.7 |
China |
41.2 |
46 |
Japan |
44.4 |
39.5 |
UK |
33 |
34 |
France |
34 |
32 |
Germany |
28 |
26 |
India |
14 |
14 |
Korea |
12 |
11 |
|
World
Statistics
|
|
|