Fact About China

Fact About China

Fact about China incorporates its evolution and journey so far. An attempt has been made here to underscore the most important fact about China. China has caught the public eye in recent years because it is the fastest growing country of the world and also because it generates the highest farm output in the world.

Find the China Facts about land, agriculture, export - import and economy. China's economy has undergone a transformation from a centrally planned and closed economy to a market-oriented economy and a global leader in agriculture as well as manufacturing products. It has a GDP of $2.518 trillion which is growing at an annual rate of 10.7 %. The population of China as estimated in July 2007 was 1,321,851,888 and was growing at a rate of 0.606 percent. It has a currency rate of 7.97 yuan per US dollar. It had an unemployment rate of 4.2 % in 2005 and the unemployment prone areas are mostly the rural areas. 10% of China's population lived below the poverty line in 2004.


Most of China's agriculture is under intensive cultivation. Agriculture accounts for a share of 11.9 % in China's GDP. 45% of Chinese labor force is employed in agriculture. Its major agricultural products are rice, wheat, potatoes, tea, pork, fish etc.

Industry had a share of 48.1% in the GDP. China's industry sector employs about 24 % of the available labor force and is growing at an annual rate of 22.9 %.

The main export items of China are machinery and equipments, plastics, iron and steel etc. U.S. is the major export partner of China accounting for 21% of Chinese exports. The main import items include organic chemicals, machinery and equipment, petroleum products etc. Japan is the major import partner of China accounting for about 14.6% of its total imports. In 2006 China exports were worth $974 billion whereas imports for the same year cost $777.9 billion thus generating a Current Account Surplus of about $179.1 billion, a fantastic figure by world standards.

China is expected to top the charts for at least a decade more but some economists are apprehensive that this boom will receive a setback once the current generation retires as the next generation is expected to take time to get hands-on-experience on the country's bull run.