GDP
The GDP in China was 5878.63 billion US dollars in 2010.
The GDP value of China is roughly equivalent to 9.48 percent of the world economy. From 1960 until 2010 China GDP averaged 839.3700 billion USD reaching an all time high of 5878.6300 billion USD in December of 2010 and a record low of 46.4600 billion USD in December of 1962.
The GDP measures national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time.
POPULATION
China's Population averaged 1037.8900 Million between 1960 and 2012 reaching an all time high of 1341.0000 Million in December of 2010 and a record low of 660.3300 Million in December of 1961.
The total population in China was last reported at 1341.0 million people. China has 19.43 percent of the world´s total population which means that one person in every 5 people on the planet is a resident of China.
IMPORTS AND EXPORTS
China exports were worth 181.1 Billion USD in May of 2012. From 1990 until 2012 China's 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 is a major factor in supporting China's rapid economic growth. Exports of goods and services make up 39.7% of its GDP.
Some of China's major exports include...
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.
China imports were worth 162.4 Billion US Dollars in May of 2012. 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.
Some of China's main imports include...
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.
Some of China's main imports include...
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.
50 FACTS ABOUT THE CHINESE ECONOMY
Here are some interesting facts about china and some links to websites that have more....
- By the fourth century B.C., the Chinese were drilling for natural gas and using it as a heat source, preceding Western natural gas drilling by about 2,300 years.
- According to popular legend, tea was discovered by the Chinese emperor Shennong in 2737 B.C. when a tea leaf fell into his boiling water. The Chinese consider tea to be a necessity of life.
- The number of birth defects in China continues to rise. Environmentalist and officials blame China’s severe pollution.
- In 2007, dog food and toothpaste products made in China were recalled because they contained poisonous ingredients. In July, China’s head of the State Food and Drug Administration was found to have accepted bribes from pharmaceutical companies. He was executed.
- The 2008 Olympic Games in Beijing were the most expensive games in history.bWhile the 2004 Athens Games were estimated to cost around $15 billion, the Beijing Games were estimated to cost a whopping $40 billion.
TYPES OF ECONOMY
The socialist market economy of modern China consists of a mixture of state owned enterprises with an open market. China has the second largest economy behind the USA, It is the world's fastest growing major economy, with growth rates averaging 10% over the past 30 years. As well as this China is the largest exporter and second largest importer in the world,the two most important sectors of the economy have traditionally been agriculture and industry, which together employ more than 70 percent of the labour force and produce more than 60 percent of GDP.
The government, under socialist political and economic system, has been responsible for planning and managing the national economy. In the early 1950s, the foreign trade system was monopolized by the state. Since 1978 when economic reforms were instituted, the government's role in the economy has lessened by a great degree and industrial output by state enterprises slowly declined.
GOVERNMENT RULES & LEGISLATION
The government, under socialist political and economic system, has been responsible for planning and managing the national economy. In the early 1950s, the foreign trade system was monopolized by the state. Since 1978 when economic reforms were instituted, the government's role in the economy has lessened by a great degree and industrial output by state enterprises slowly declined.
GOVERNMENT RULES & LEGISLATION
- Article 6 Any business with a dominant position may not abuse that dominant position to eliminate, or restrict competition
- Any administrative organ or organization empowered by a law or administrative regulation to administer public affairs may not abuse its administrative power
- Any of the following monopoly agreements among the competing business operators shall be prohibited
(1) fixing or changing prices of commodities
(2) limiting the output or sales of commodities
(3) dividing the sales market or the raw material procurement market
- It is illegal to own a red car in Shanghai, China
- Chinese law states that to go to college you must be intelligent.
- Anyone who is caught sharing the secrets of silk-making was to be tortured to death.
JOINT VENTURE
Below are critical legal issues that a potential JV investor should consider:
Equity transfer - If any investor in a JV wants to transfer its equity interest to a non-investor, all other investors must approve and have a right of first refusal in reference to the subject equity. Thus, the transferring investor’s counterparts can block the introduction of a new investor into the JV.
Unanimous approval - Certain fundamental corporate events require unanimous approval from a duly convened board. As a result, if a minority investor’s director(s) are required for a quorum, such directors could block a decision that requires a unanimous vote.
Pledge of Equity Interest - Equity interest of the JV cannot be pledged without the approval of all investors. A pledge refers to the use of property ownership as collateral for debt, much like a mortgage. Thus, an investor’s ability to leverage the value of the assets in the JV may be severely restricted if all investors are not in complete agreement.
Profit Sharing - Investors of the JV (if an “equity joint venture” or “EJV”) must share profits based upon each respective investor’s equity interest (i.e., contribution to the JV’s registered capital) of each investor. Thus, any imbalance in investors’ contributions to the JV in forms other than registered capital cannot be addressed by adjusting profit distribution.
http://www.youtube.com/watch?v=-TIPHGkYeHA
ECONOMIC FACTORS
The inflation rate of China was recorded at 3% in may 2012.
ECONOMIC FACTORS
The inflation rate of China was recorded at 3% in may 2012.
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