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The Chinese economy has shown an average annual GDP growth rate of 9.5 per cent in real terms since the mid-1980s. This remarkable growth has been achieved from an inflexible economic activity, into a pragmatic one of a decentralised, liberal market economy with entrepreneurial activity and individual reward.
It follows a strategy of 'Socialism with Chinese characteristics' with mixed forms of private and public ownership competing within a market environment (espoused by former president, Deng Xiaoping, 2006). By doing so, China has benefited from the largest reduction in poverty, with the fastest growth in incomes it has ever experienced. A World Bank report published in December 2007 stated that almost 50 per cent of the World's total GDP was produced between the US, China, Japan, Germany and India.
Provinces
| Anhui Fujian Gansu Guangdong Guizhou |
Hainan Hebei Heilongjiang Henan Hubei |
Hunan Jiangsu Jiangxi Jilin Liaoning |
Qinghai Shaanxi Shandong Shanxi Sichuan |
Yunnan Zhejiang Taiwan |
Municipalities |
Autonomous Regions |
Special Administrative Regions |
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| Beijing Chongqing Shanghai Tianjin |
Guangxi Inner Mongolia Ningxia Tibet Xinjiang |
Hong Kong Macao (Macau) |
