Preview

Gdp Growth in China

Good Essays
Open Document
Open Document
1473 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Gdp Growth in China
GDP growth in China 1952-2009
Sharp increase in GDP during the reform period
GDP has risen from Rmb362.4 billion in 1978, at the start of the reform period, to Rmb30 trillion in 2008 (both figures at current prices).

Structural change in the Chinese economy during the reform period
The share of primary industry in GDP has fallen from 28% in 1978, at the beginning of the reform period, to 11% in 2008.
This fall occurred because agricultural output grew more slowly than output of other economic sectors.
At the same time, the share of tertiary industry grew from 24% to 40% as services sectors proliferated.
The share of the secondary sector has stayed level at around 48% over the period as a whole.

GDP Index in real terms GDP Rmb billion at current prices GDP per head Rmb Real annual growth rate (%)
1952 100.0 67.9 119
1953 115.6 82.4 142 15.6
1954 120.5 85.9 144 4.2
1955 128.6 91.0 150 6.8
1956 147.9 102.8 165 15.0
1957 155.5 106.8 168 5.1
1958 188.6 130.7 200 21.3
1959 205.2 143.9 216 8.8
1960 204.6 145.7 218 -0.3
1961 148.7 122.0 185 -27.3
1962 140.4 114.9 173 -5.6
1963 154.7 123.3 181 10.2
1964 183.0 145.4 208 18.3
1965 214.2 171.6 240 17.0
1966 237.1 186.8 254 10.7
1967 223.6 177.4 235 -5.7
1968 214.4 172.3 222 -4.1
1969 250.6 193.8 243 16.9
1970 299.3 225.3 275 19.4
1971 320.2 242.6 288 7.0
1972 332.4 251.8 292 3.8
1973 358.6 272.1 309 7.9
1974 366.9 279.0 310 2.3
1975 398.8 299.7 327 8.7
1976 392.4 294.4 316 -1.6
1977 422.2 320.2 339 7.6
1978 471.6 362.4 379 11.7
1979 507.5 403.8 417 7.6
1980 547.1 451.8 460 7.8
1981 575.5 486.2 489 5.2
1982 629.0 529.5 525 9.1
1983 698.9 593.5 580 10.9
1984 805.8 717.1 692 15.2
1985 912.1 896.4 853 13.5
1986 989.7 1,020.2 956 8.8
1987 1,103.5 1,196.3 1,104 11.6
1988 1,228.2 1,492.8 1,355 11.3
1989 1,279.8 1,690.9 1,512 4.1
1990 1,333.5 1,854.8 1,634 3.8
1991 1,454.9 2,161.8 1,879 9.2
1992 1,660.0 2663.8 2,287 14.2
1993 1,877.5 3,463.4 2,939 13.5
1994

You May Also Find These Documents Helpful

  • Powerful Essays

    Inb 410

    • 1601 Words
    • 7 Pages

    Since initiating market reforms in 1978, China has shifted from a centrally planned to a market based economy and experienced rapid economic and social development. GDP growth averaging about 10 percent a year has lifted more than 600 million people out of poverty. All Millennium Development Goals have been reached or are within reach.…

    • 1601 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    macroeconomic GDP

    • 563 Words
    • 7 Pages

    Measures the market value of all final goods and services produced in the U.S. in a given year…

    • 563 Words
    • 7 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Peg’s Manicure Manor did 4000 sets of nails in the year 2006 and 4500 sets of nails in the…

    • 431 Words
    • 5 Pages
    Satisfactory Essays
  • Good Essays

    Let us start by defining Gross Domestic Product “GDP” this is an economic indicator of how the health of U.S. economy rate of growth whether it slowly down or increasing in a positive manner. If the GPD is growing in a positive direction that means businesses will grow and unemployment will decrease. GPD is measured by comparing current and previous quarter U.S. economic output.…

    • 256 Words
    • 2 Pages
    Good Essays
  • Best Essays

    India, China & US – A Comparative Study of the Recent Trends in their Economic Growth.…

    • 3522 Words
    • 15 Pages
    Best Essays
  • Powerful Essays

    Macroeconomics Gdp

    • 5504 Words
    • 23 Pages

    Macroeconomics (from Greek prefix "makros-" meaning "large" + "economics") is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.[1][2] With microeconomics, macroeconomics is one of the two most general fields in economics.…

    • 5504 Words
    • 23 Pages
    Powerful Essays
  • Powerful Essays

    Outdoor Development Training

    • 10065 Words
    • 41 Pages

    One forth centuries passed from ¡®Opening Reform¡¯ of China in 1978 up to today. Chinese torchbearers planned ¡°GDP increase by four times in twenty years¡± at that time, but no one believed it can be achievement. Today, the GDP of China has developed from 500…

    • 10065 Words
    • 41 Pages
    Powerful Essays
  • Good Essays

    Economic systems doesn’t remain static as they are always in transition. They are determined by history and culture of their people. A transition economy is an economy which is changing from a centrally planned economy to a free market. Transition economies undergo economic liberalization, where market forces set prices rather than a central planning organization. In addition to this trade barriers are removed, there is a push to privatize state-owned businesses and resources, and a financial sector is created to facilitate macroeconomic stabilization and the movement of private capital. The process has been applied in China as the country prepares for the once in a decade leadership transition within the ruling Communist Party. The world’s second biggest economy has undergone a massive transformation within the last 10 year. From rapid urbanization and economic growth to social and political development, China has marked many milestones and firsts in the past decade, highlighting its significance on the global stage.…

    • 691 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    The article “China and India: Idiosyncratic Paths to High Growth” by Kaushik Basu particularly described the specific economy growth of China and India. She illustrates the growth through several points, such as, special labor force, capita income, social policy and market liberalization. In this essay, I’m giving a summary about her article through theses points and some personal opinions related to her ideas.…

    • 686 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Hu and Khan, 1997 analysed the reasons of Chinese economy rapid growth. They suggested that economy boost in China is a reality and began in 1978 (economic reform program). The annual growth rate increased by 3 to 7% and the individual annual income increased four times. There are factors helping the rapid growth of Chinese economy, first is the political stability of the post 1978 era compared to the environment before. Change from Marxism Mao beliefs, the Sino-Russian conflict, the Cultural Revolution and the Great Leap are examples to political instability prior to 1978. Second, before 1978, China directed most investments to urban area, because of the economic reform policy, starting from 1978 investments were directed to rural areas and the government encouraged rural and private businesses investments. This produced an increase in China's capital assets in the form of new factories and industrial machinery besides increasing the number of skilled workers. Third, developments in China's economy are not stationary; the dynamically progressing economy reflects that Chinese government transferred the preliminary productivity gains to develop other economy area. Fourth is the change in workers pattern and distribution, before 1978 80% of Chinese workers practiced agricultural work, in post 1978 era only 50% are working in agriculture. Fifth, enterprises managers were given autonomy to determine their goals, sell some goods in private market at competitive prices, however full scale pricing…

    • 1055 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    In Singapore, economic growth is measured by Gross Domestic Production (GDP) per annum. GDP represents the total dollar value of all goods and services produced over a specific time period. For Singapore, a strong and sustainable GDP growth rate is projected to be around 3-5% per annum with a stable inflation rate of 1-2%3. Rates in access of this can lead to inflation and a fall in quality of living due to an over usage of input factors.…

    • 3117 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Rise and Fall of Gdp

    • 7028 Words
    • 29 Pages

    This copy is for your personal, noncommercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers here or use the "Reprints" tool that appears next to any article. Visit www.nytreprints.com for samples and additional information. Order a reprint of this article now.…

    • 7028 Words
    • 29 Pages
    Powerful Essays
  • Powerful Essays

    Development in China

    • 2679 Words
    • 11 Pages

    ➢ Since China opened its door to foreign investments in 1979, the rapid growth of its economy, international trade and securities markets has shaped new objectives for financial reporting.…

    • 2679 Words
    • 11 Pages
    Powerful Essays
  • Satisfactory Essays

    Economic growth is an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. It can be measured by gross domestic product (GDP) and this can give us a measure of economic performance. Actual economic growth is an increase in GDP. There are various distinctions used in the context of economic growth such as nominal GDP so the face value and real GDP which is when GDP is adjusted for inflation. It can be said that economic growth can be a useful measure of economic performance because GDP can be calculated per capita, or per head of population.…

    • 493 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    GDP growth

    • 809 Words
    • 3 Pages

    GDP (gross domestic product), is the market value of all final goods and services produced in a country in a given time period. This definition has four parts: Market value, final goods and services, whether it was produced within a country, and the time period. GDP is a market value, which means that goods and services are valued at their market prices. A final good (or service), is an item bought by its final user during a specified time period, a final good contrasts with an intermediate good, which is an item that is produced by one firm, bought by another firm, and used as a component of a final good or service, and excluding intermediate goods and services avoids double counting. It measures production within a country—domestic production, in a given time period, which is usually a year or a quarter of a year.…

    • 809 Words
    • 3 Pages
    Good Essays