The vast majority of China's imports consists of industrial supplies and capital goods, notably machinery and high-technology equipment, the majority of which comes from the developed countries, primarily Japan.
China once had a socialist, planned economy where the government (one party) controlled and owned all the means and methods of production. It is now near a market economy after privatisation of most of the state owned enterprises and opening up to western countries. For example, peasants now have their own farms, foreign businesses are allowed to set up in China and so on.
Imports
China imports were worth 162.4 Billion USD in May of 2012. Historically, from 1990 until 2012, China Imports averaged 41.5 Billion USD reaching an all time high of 160.3 Billion USD in March of 2012 and a record low of 2.6 Billion USD in January of 1990. China imports mainly commodities: iron and steel, oil and mineral fuels as well as machinery and equipment, plastics, optical and medical equipment and organic chemicals. China’s main imports partners are: Japan, European Union, South Korea, Taiwan and ASEAN countries. This page includes a chart with historical data for China Imports.
Exports
China exports were worth 181.1 Billion USD in May of 2012. Historically, from 1990 until 2012, China Exports averaged 47.8 Billion USD reaching an all time high of 175.1 Billion USD in July of 2011 and a record low of 2.8 Billion USD in January of 1990. Export growth has continued to be a major component supporting China's rapid economic growth.Exports of goods and services constitute 39.7% of its GDP. China major exports are: office machines & data processing equipment, telecommunications equipment, electrical machinery and apparel & clothing. China’s largest exports markets are European Union, United States, Hong Kong, Japan and South Korea.
Zinc, nickel, lumber, mining & oil equipment lead China's fastest-growing exports to U.S. while tobacco, corn & precious metals are popular American imports in China.
Chinese inflation rates
The inflation rate in China was recorded at 3 percent in May of 2012. Historically, from 1994 until 2012, China Inflation Rate averaged 4.3000 Percent reaching an all time high of 27.7000 Percent in October of 1994 and a record low of -2.2000 Percent in March of 1999. Inflation rate refers to a general rise in prices measured against a standard level of purchasing power. The most well known measures of Inflation are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy. This page includes a chart with historical data for China Inflation Rate.
as you can see chinese inflation was at its peak in July 2011 and at its lowest in July 2010.
|
Chinese Interest Rates
The benchmark interest rate in China was last reported at 6.31 percent. Historically, from 1996 until 2012, China Interest Rate averaged 6.4600 Percent reaching an all time high of 10.9800 Percent in May of 1996 and a record low of 5.3100 Percent in August of 2010. In China, interest rates decisions are taken by The Peoples' Bank of China Monetary Policy Committee. The PBC administers two different benchmark interest rates: one year lending and one year deposit rate. This page includes a chart with historical data for China Interest Rate.
| Population | ||
|---|---|---|
| - | 2010 census | 1,339,724,852 |
| - | Density | 139.6/km 363.3/sq m |
current
Mixed Economy- because theres loads of business
As you can see above interest rates were at their highest in July 11 - Jan 2012
Chinese Goverment budget
China reported a Government Budget deficit equal to 1.10 percent of the country's Gross Domestic Product in 2011. Historically, from 1988 until 2011, China Government Budget averaged -1.9400 Percent of GDP reaching an all time high of 0.5800 Percent of GDP in December of 2007 and a record low of -3.0500 Percent of GDP in December of 1991. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page includes a chart with historical data for China Government Budget.
Unemployment
The unemployment rate in China was last reported at 4.1 percent in the first quarter of 2012. Historically, from 2002 until 2012, China Unemployment Rate averaged 4.1500 Percent reaching an all time high of 4.3000 Percent in December of 2003 and a record low of 3.9000 Percent in September of 2002. The unemployment rate can be defined as the number of people actively looking for a job as a percentage of the labour force.
1. China's GDP has multiplied tenfold since 1978 Currently, China has the second largest economy in the world, following the United States.
While customers of Chinese exports aren't complaining about this growth, economists have a bevy of issues to take up with China, including currency manipulation, exploitation of labor and environmental pollution.
2. There are more cell phones in China than people in the U.S.
Twice as many, to be exact. In late August, Reuters reported that there were 794.7 million cell phone subscribers in China, nearly two-and-a-half times the size of the entire U.S. population.
Even still, those subscribers make up only 60.8% of the country's total population.
China Mobile (NYSE: CHL) is the world's largest cellular service provider, with a total of 558.9 million mobile subscribers.
3. China is crawling with KFC's.
In 2009, Yum! Brands (NYSE: YUM) opened more than 500 new restaurants in mainland China.
Yum! Brands is an American company that owns Taco Bell, KFC, Pizza Hut, Long John Silver's, A&W and WingStreet.
But in China, KFC has been the big winner -- there are currently close to 3,000 KFC's in mainland China.
Yum! claims that it opens nearly one new KFC in mainland China every day.
4. China is the largest foreign holder of U.S. Treasury securities.
Currently, Chinese lenders hold over $840 billion worth of U.S. Treasury securities. That is equal to nearly 10% of the total Treasury debt held by the American public.
As China ostensibly moves toward a floating exchange rate, they may be forced to unload some of that debt, which could really put the United States into a bind by restricting our debt financing ability.
China could be changing how it deals with the U.S. dollar. Understanding basic economic theory can help boost even the most diversified portfolio. Read more about how China's policy changes will likely have an impact on every American in this educational article, How Money Manipulation on the Other Side of the World Could Affect American Portfolios.]
5. Nearly one-third of Chinese adults live with their parents.
But not for a lack of space; according to Bloomberg, urban construction is up more than 16% while rural construction is up almost 14% year-over-year.
According to a 2000 world marriage pattern study by the United Nations, the average marrying age is 24 and 22 for men and women, respectively.
In Chinese culture, people usually live in their parents' homes until marriage. According to the same study, Americans marry about four years later than Chinese and embrace living alone before then.
6. China is the source of more than 77% of the U.S.'s pirated goods.
According to the U.S. Government Accountability Office, China is responsible for 77% of pirated goods seized in the United States, with Hong Kong accountable for another 7%.
In a recent Los Angeles crackdown, approximately $12 million of contraband was confiscated, including cigarettes, iPhones and yet-to-be released DVDs.
7. Over 75% of the Chinese population supports the "one-child" policy.
Even though its workforce has been able to produce stunning results over the past two decades, the Chinese government seeks to restrict its growth through the so-called one-child policy.
This prohibits many Chinese families from having more than one child.
Although seemingly despotic, the policy is supported by over 75% of the Chinese population according to a study by the Pew Research Center.
8. More than 135 million people in China live on less than $1 a day.
This is extreme poverty and it means families are not able to afford the most basic necessities to ensure survival.
Even though China has the world's second largest economy, it is still considered to be a developing country by the World Bank.
9. Only 43% of Chinese Citizens live in cities.
More are urbanizing every year. Reuters expects the urban population to have doubled to a whopping 700 million city-dwellers by 2015. Bear in mind, "rural" is not American suburbia. Rural Chinese towns generally lack running water and reliable transportation.
Also, rural towns still rely on the strength of their young boys to pass on the family name and care for the parents when they age. They're so prized, Time Magazine reports, that in some rural populations 80% of kids between ages 5-10 are boys.
10 Starting a business takes 38 days.
Capitalism is a touchy new subject in socialist China.
Though the central government is slowly releasing its grip as the planner of the economy, it is not yet as encouraging to entrepreneurship as many western nations. To start a business costs 130% of the average worker's income and taxes eat up a whopping 64% of profits.
Beyond Business
It is true that understanding the finer points of doing business outside of one’s own culture can only broaden one’s market possibilities. The personal enrichment one experiences during global business exchanges, however, can oftentimes equal that of the career success we enjoy by better understanding the other individual.
Undoubtedly, cultural awareness can be rewarding in many ways.
Law and legislations
-The FCPA prohibits the giving of anything of value, e.g. the payment of bribes, to foreign officials for the purpose of obtaining or retaining business.
-one child policy
As you can see above interest rates were at their highest in July 11 - Jan 2012
Chinese Goverment budget
China reported a Government Budget deficit equal to 1.10 percent of the country's Gross Domestic Product in 2011. Historically, from 1988 until 2011, China Government Budget averaged -1.9400 Percent of GDP reaching an all time high of 0.5800 Percent of GDP in December of 2007 and a record low of -3.0500 Percent of GDP in December of 1991. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page includes a chart with historical data for China Government Budget.
Unemployment
The unemployment rate in China was last reported at 4.1 percent in the first quarter of 2012. Historically, from 2002 until 2012, China Unemployment Rate averaged 4.1500 Percent reaching an all time high of 4.3000 Percent in December of 2003 and a record low of 3.9000 Percent in September of 2002. The unemployment rate can be defined as the number of people actively looking for a job as a percentage of the labour force.
Facts
1. China's GDP has multiplied tenfold since 1978 Currently, China has the second largest economy in the world, following the United States.
While customers of Chinese exports aren't complaining about this growth, economists have a bevy of issues to take up with China, including currency manipulation, exploitation of labor and environmental pollution.
2. There are more cell phones in China than people in the U.S.
Twice as many, to be exact. In late August, Reuters reported that there were 794.7 million cell phone subscribers in China, nearly two-and-a-half times the size of the entire U.S. population.
Even still, those subscribers make up only 60.8% of the country's total population.
China Mobile (NYSE: CHL) is the world's largest cellular service provider, with a total of 558.9 million mobile subscribers.
3. China is crawling with KFC's.
In 2009, Yum! Brands (NYSE: YUM) opened more than 500 new restaurants in mainland China.
Yum! Brands is an American company that owns Taco Bell, KFC, Pizza Hut, Long John Silver's, A&W and WingStreet.
But in China, KFC has been the big winner -- there are currently close to 3,000 KFC's in mainland China.
Yum! claims that it opens nearly one new KFC in mainland China every day.
4. China is the largest foreign holder of U.S. Treasury securities.
Currently, Chinese lenders hold over $840 billion worth of U.S. Treasury securities. That is equal to nearly 10% of the total Treasury debt held by the American public.
As China ostensibly moves toward a floating exchange rate, they may be forced to unload some of that debt, which could really put the United States into a bind by restricting our debt financing ability.
China could be changing how it deals with the U.S. dollar. Understanding basic economic theory can help boost even the most diversified portfolio. Read more about how China's policy changes will likely have an impact on every American in this educational article, How Money Manipulation on the Other Side of the World Could Affect American Portfolios.]
5. Nearly one-third of Chinese adults live with their parents.
But not for a lack of space; according to Bloomberg, urban construction is up more than 16% while rural construction is up almost 14% year-over-year.
According to a 2000 world marriage pattern study by the United Nations, the average marrying age is 24 and 22 for men and women, respectively.
In Chinese culture, people usually live in their parents' homes until marriage. According to the same study, Americans marry about four years later than Chinese and embrace living alone before then.
6. China is the source of more than 77% of the U.S.'s pirated goods.
According to the U.S. Government Accountability Office, China is responsible for 77% of pirated goods seized in the United States, with Hong Kong accountable for another 7%.
In a recent Los Angeles crackdown, approximately $12 million of contraband was confiscated, including cigarettes, iPhones and yet-to-be released DVDs.
7. Over 75% of the Chinese population supports the "one-child" policy.
Even though its workforce has been able to produce stunning results over the past two decades, the Chinese government seeks to restrict its growth through the so-called one-child policy.
This prohibits many Chinese families from having more than one child.
Although seemingly despotic, the policy is supported by over 75% of the Chinese population according to a study by the Pew Research Center.
8. More than 135 million people in China live on less than $1 a day.
This is extreme poverty and it means families are not able to afford the most basic necessities to ensure survival.
Even though China has the world's second largest economy, it is still considered to be a developing country by the World Bank.
9. Only 43% of Chinese Citizens live in cities.
More are urbanizing every year. Reuters expects the urban population to have doubled to a whopping 700 million city-dwellers by 2015. Bear in mind, "rural" is not American suburbia. Rural Chinese towns generally lack running water and reliable transportation.
Also, rural towns still rely on the strength of their young boys to pass on the family name and care for the parents when they age. They're so prized, Time Magazine reports, that in some rural populations 80% of kids between ages 5-10 are boys.
10 Starting a business takes 38 days.
Capitalism is a touchy new subject in socialist China.
Though the central government is slowly releasing its grip as the planner of the economy, it is not yet as encouraging to entrepreneurship as many western nations. To start a business costs 130% of the average worker's income and taxes eat up a whopping 64% of profits.
Beyond Business
It is true that understanding the finer points of doing business outside of one’s own culture can only broaden one’s market possibilities. The personal enrichment one experiences during global business exchanges, however, can oftentimes equal that of the career success we enjoy by better understanding the other individual.
Undoubtedly, cultural awareness can be rewarding in many ways.
Law and legislations
-The FCPA prohibits the giving of anything of value, e.g. the payment of bribes, to foreign officials for the purpose of obtaining or retaining business.
-one child policy
Impact on health care
It is reported that the focus of China on population control helps provide a better health service for women and a reduction in the risks of death and injury associated with pregnancy. At family planning offices, women receive free contraception and pre-natal classes.
Increased saving rate
The individual savings rate has increased since the one-child policy was introduced. This has been partially attributed to the policy in two respects. First, the average Chinese household expends fewer resources, both in terms of time and money, on children, which gives many Chinese more money with which to invest. Second, since young Chinese can no longer rely on children to care for them in their old age, there is an impetus to save money for the future
Economic growth
The original intent of the one-child policy was economic, to reduce the demand of natural resources, maintaining a steady labor rate, reducing unemployment caused from surplus labor, and reducing the rate of exploitation.The CPC's justification for this policy was based on their support of Mao Zedong's supposedly Marxist theory of population growth, though Marx was actually witheringly critical of Malthusianism.
China Business Confidence
In China, business confidence improved to 123 in the first quarter of 2012 from 120.9 in the fourth quarter of 2011. Historically, from 1999 until 2012, China Business Confidence averaged 128.2400 reaching an all time high of 146.0000 in June of 2007 and a record low of 105.6000 in March of 2009. In China, the Business Climate Index conducted by the National Bureau of Statistics of China measures the level of optimism that people who run companies have about the performance of the economy and how they feel about their organizations’ prospects. Business confidence surveys can provide useful signs about the current condition of the economy, because companies often have information about consumer demand sooner than government statisticians do. This page includes a chart with historical data for China Business Confidence.
Joint Ventures
HSBC, Danone and Nissan Toyota Burger King are the widest known however have incorporated a few problems most recently.
http://www.economist.com/node/9040416- article
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