China

China

The Peoples Republic of China is the second largest economy in the world. The primary language in the country is Mandarin which is spoken by approximately 70% of the population. The population of China is around 1.4 billion people making it the most populous country in world. Nominal gross domestic product (GDP) for 2020 is estimated to be $15,260 trillion with a per capita income of $10,872 which is the 67th highest in the world. The currency is the Yuan and the time zone is UTC+8 China standard time.

China Economy

By sector:
• Services – 53.9%
• Industry manufacturing – 39%
• Agriculture – 7.1%

China Exports

China main exports by category:

• Electrical machinery and equipment
• Computers
• Furniture
• Plastics
• Vehicles
• Optical and medical equipment
• Clothing
• Articles of iron/steel
• Clothing accessories
• Toys

China Imports

China main imports by category:

• Integrated circuits
• Crude oil
• Iron ore
• Petroleum gases
• Cars

China Trade Information

China’s main trading partners are United States, Hong Kong, Japan, South Korea, Vietnam, Germany and India.

China is a member of the WTO

China has free trade agreements with Australia, New Zealand, Chile Iceland, Pakistan, Singapore, Peru, Switzerland, Hong Kong, Costa Rica, Georgia, Japan, Cambodia, Panama.

Trade volumes for 2019 were:

Total value of exports – 2,499 billion USD
Total value of imports – 2,080 billion USD

China Business Development

Ease of doing business ranking – 31st in the world

International dialing code – +86

Main business domain – .cn

Blackcat360 China business development potential – HIGH

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