China

Economic indicators

After a growth rate of 11.1% in 2006 and 11.5% in 2007, the real GDP will decrease at a rate of 9.9% in 2008 and 9.3% in 2009, according to the Economist Intelligence Unit. Growth was due to exports and investments. The total volume of the Chinese GDP reached 2680 billion USD in 2006, which places China in line with Germany, third world economic power. Inflation has risen slightly in 2006 (1,5%).

In 2006, China made a trade surplus of a record 177.5 billion USD, 74% more than in 2005. The quantum of exports increased by 27% per annum to reach 969 billion USD. Imports increased by 20% compared to 2005 to reach 791.6 billion USD.

However, significant difference in standards of living exist between the city and the countryside, the urban areas of the Chinese coasts and the interior and the West of the country, as also between the urban middle-classes and the victims of growth. These inequalities worry the Chinese authorities more and more. If poverty has strongly decreased in China, nearly 10% of the population still live with less than 1 USD per day, which is to say more than 120 million people.]

Main sectors of industry

China is the most populated country in the world and one of the largest producers and consumers of agricultural produce. In 2006, China was the worldwide leader in the production of cereals (15%).
20% of corn, 30% of rice and 25% of cotton produced world-wide are Chinese.
China held 53% of the world pig livestock in 2006. Agriculture contributed to only 12.5% of the GDP in 2005. Approximately half the Chinese labor is engaged in agriculture, although only 15% of the Chinese soil (about 1.2 M km ²) is arable.

China has vast coal reserves (the premier energy source of the country), accounting for 2/3 of the total consumption of primary energy. China is a world leader in the production of certain ores (phosphate and titanium) and hydroelectric energy. China is the sixth largest producer of petroleum in the world with 3.8 million barrels.

The industry and the construction sectors contribute to approximately 46% of the GDP of China. China has become one of the preferred destinations for relocation of global manufacturing units because of a cheap labor market. The Government sector still contributes approximately 40% of the GDP. More than half of Chinese exports are made by companies with foreign capital. Their share in the sectoral added-value varies according to the sector: more than 60% for electronics and at least 20% for majority of the semi-finished goods. In sectors with a strong share of companies with foreign assets (higher than 40%), exports account for more than 90% of their production. Economic emergence has coincided mainly with the development of a competitive manufacturing sector and turned towards concerns.

The service sector has set back, encumbered by public monopolies and constraining regulations. The share of the tertiary sector in the GDP ranges between 30 and 34% in these last 15 years.

Source: World Bank - World Development Indicators - last available data.

Sources of economic information

Ministries

Ministry of Foreign Trade and Economic CooperationMinistry of FinancesState Administration for industry and commerceMinistry of Land and Resources

Statistical Office

National statistical office of China

Central Bank

Bank of China

Stock Exchange

Shanghai stock exchange
Shenzen stock exchange

Online newspapers

China Daily
Xinhuanet
The Economic observer online
South China Morning Post
People's daily Online
China.org.cn

Search Engines

China Vista
China Pages
Gcweb
Sina
Surf China
Yahoo! China

Economic portals

China Economy
China Economic net

Political outline

Executive Power

The Chinese executive is supervised by a collegial body equipped with important powers, the National Business Council (CAE), under which are placed the Government commissions, ministries and certain organizations which have rank of a ministry.
According to the Constitution, the CAE is "the Supreme Administrative Body" of the Chinese Government, and even if the majority of important measures are decided by the Political Bureau of the Chinese Communist Party. The CAE thus plays an important role in the economic domain. The prime minister (Wen Jiabao) is the chief and heads the government, assisted by 4 Deputy Prime Ministers. The CAE also includes 5 National advisers, who, just like the Deputy Prime Ministers, have jurisdiction over several Ministries or Commissions of ministerial rank. The Secretary General of the government also belongs to the CAE.

Legislative Power

The legislature is mono cameral, composed of a National Popular Assembly (ANP), "Body of supreme power of the Government". In reality, made up of approximately 3000 designated deputies elected every five years by indirect vote by the local bodies and meeting only once per annum in congress in plenary session, it has become, during the eighties, a " simple case of resonance" of the local or sectional interests. Deputies are indeed the representatives of 23 provinces, the 5 areas and the 4 autonomous municipalities.

APN comprises a delegation of the People's Liberation Army. The Standing Committee of the National People's Assembly (CPAPN) is appointed by the Political Bureau of the Central committee of the Party. It sits instead of the APN during its recess and exercises all its powers. It is composed of a president, fifteen vice-presidents and 176 permanent members. The CPAPN sits regularly, but it is the Bureau of the APN which exerts daily the functions of the APN.

Eligibility is controlled by the PCC which also has a right to supervise the appointment of the executives and the senior officials of different administrative units.

Main political parties

The one and only political party in the country is CCP (Chinese Communist Party). Though there are eight other registered small parties but all of them are controlled by CCP.

Current political leaders

President: HU Jintao (since March 2003) - CCP
prime Minister: WEN Jiabao (since March 2003) - CCP

Next election dates

President: March 2008

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