Doing business in China: economic snapshot February 2018

ECONOMIC SNAPSHOT
CHINA

Internal perspective

Once the fastest-growing economy in the world, China’s growth has slowed as a result of what experts explain as the country’s move from a developing economy to a developed one. But while China’s exports have declined, its domestic online commerce is thriving due to an everyday reliance on e-wallets and mobile payments and advanced logistics technology that can keep pace with it.

Population

1,403,500,365 (2016)

Internet users

50.3% (2015)

Gross domestic product (GDP)

  • $11.199 trillion

Top 5 Imports

Top 5 exports

Languages

Top 3 Trading Partners

Top franchises

GDP growth rate (est.)

  • 6.689% in 2016
  • 6.511% in 2017

Trends and outlooks

  • High GDP growth rate
  • Highly developed e-commerce
  • Widespread smartphone use and Internet coverage
  • Growing middle class with disposable incomes
  • Surging home prices and inflation pressures

Economic challenges

  • High savings rates and low consumption
  • Increasing wages
  • High levels of corruption
  • Environmental degradation

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