Over the past 10 years, according to cheeroutdoor, China has made impressive progress in the economy. GDP growth has averaged 7% per annum and is projected to remain at that level. The volume of GDP in 2002 was 10.24 trillion yuan (an increase of 8% compared to 2001), or 1.25 trillion US dollars in terms of the official exchange rate, which is less than 1/3 of Japan’s GDP, or about 10% of US GDP. The volume of GDP per capita is 7972 yuan (or approx. 1000 US dollars) per year. If China develops at the same pace in the next 10 years, then it will surpass Japan in terms of total GDP. The scope of employment is expanding. The total number of employed people in 2002 amounted to 737.4 million people, incl. the total number of workers and employees in cities and towns is 247.8 million people. A serious problem is growing unemployment as a result of reforms in state and collective sector enterprises. In just 5 years, they lost their jobs in cities due to the closure of enterprises or the reduction in their staff of St. 50 million people According to government statistics, In 2002, registered unemployment in cities and towns was 4%, however, according to estimates, the total number of unemployed rural population has already exceeded 150 million people. The general price level continued to decline slightly since 1998. The general level of consumer prices in 2002 decreased by 0.8% compared to 2001, incl. the decrease in prices in the city was 1.0%, in the countryside – 0.4%. the total number of unemployed in the production of the rural population has already exceeded 150 million people. The general price level continued to decline slightly since 1998. The general level of consumer prices in 2002 decreased by 0.8% compared to 2001, incl. the decrease in prices in the city was 1.0%, in the countryside – 0.4%. the total number of unemployed in the production of the rural population has already exceeded 150 million people. The general price level continued to decline slightly since 1998. The general level of consumer prices in 2002 decreased by 0.8% compared to 2001, incl. the decrease in prices in the city was 1.0%, in the countryside – 0.4%.
In the 1990s with the constant growth of GDP in all sectors of the economy – the first sphere (agriculture), the second sphere (industry and capital construction) and the third sphere (transport, trade, finance, services, etc.) – GDP grew at a faster pace in industry and capital construction. As a result, industry accounts for the largest contribution to GDP – 44.4% in 2001. The share of GDP in industry and capital construction amounted to more than half of GDP, while its share in agriculture was reduced and remained at the same level in the third sector due to services. At the same time, in 1991–2002, the share of those employed in agriculture decreased noticeably from 59.7% to 50.0%, while the share of those employed in industry and capital sphere — from 18.9 to 27.7%.
Industrial production in the PRC grew at a faster pace—in 1979–2001, by an average of 11.5% per year. In 1991–95, the growth of GDP in industry was especially fast – 17.7% per year, although in 1996–2000 the growth rate was quite high and amounted to 10.2% per year. In 2002, the volume of value added in industry amounted to 4593.5 billion yuan, up 10.2% from 2001. The most rapidly growing production is in export-oriented industries (light, food, textile industry, engineering and electronics), in high-tech industries, as well as in the production of consumer durables (cars, computers, mobile phones, color televisions, household refrigerators). The situation in the fuel and energy industries ensures that high growth rates are maintained in other industries. Electricity production in 2002 amounted to 1654.0 billion kW / h, coal production – 1.38 billion tons, oil – 167 million tons.
In agriculture, the sown areas for grain and cotton in 2002 amounted to 103.99 million hectares and 4.18 million hectares, respectively, for oilseeds – 14.87 million hectares, for sugar crops – 1.8 million hectares, for vegetable crops – 17, 28 million hectares. The total harvest of cereals (rice, wheat, corn) amounted to 457.1 million tons, of which the autumn harvest is 328.1 million tons. Rice is still the main grain crop in China, which is harvested three times in the southern regions of the country per year (summer harvest, early rice and autumn harvest). Animal husbandry and fishing are important branches of agriculture. China ranks first in the world in the production of meat, eggs, honey, bee products, silkworm cocoons, the total number of livestock, and poultry. The number of cattle and sheep is growing rapidly, at a slower pace – the number of pigs. The volume of meat production amounted to 65.9 million tons. During the 9th Five-Year Plan (1996-2000), the share of agriculture in the GDP of agriculture for the first time yielded to the combined share of animal husbandry, aquaculture, and forestry. China accounts for 1/4 of the world production of aquatic products – 45.13 million tons, and according to this indicator, China ranks 3rd after Japan and the Russian Federation.
As of 2001, the first place in China in terms of length is occupied by motorways—1,698,000 km, of which only 19,400 km are expressways. The length of airlines is 1553.6 thousand km, of which 516.9 thousand km are international airlines. Railways account for 70.1 thousand km, of which only 16.9 thousand km are electrified. The length of water routes is 121.5 thousand km, and oil and gas pipelines – 27.6 thousand km.
The volume of cargo turnover is 4938.7 billion tkm (2002). Most of this volume is accounted for by water
transport – 2648.1 billion tkm (53.6%) and for railway – 1547.7 billion tkm (31.3%). Road and air transport do not occupy a large place in China’s cargo turnover. Road transport accounts for 670.4 billion tkm, while air transport accounts for 51.5 billion tkm. 2.68 billion tons of cargo pass through seaports, of which 0.76 billion tons are foreign trade cargo. The total volume of oil and gas transportation is 194.4 million tons, of which oil pipelines accounted for 172.9 million tons, and gas pipelines – 21.5 million tons (2001).
The volume of passenger traffic is 1396.6 billion people/km (2002), of which the majority is accounted for by road transport – 764.3 billion (54.7% of the total passenger turnover) and rail transport – 496.9 billion people/km (35.6%). Passenger transportation by air transport is growing every year, and in 2002 they already amounted to 126.9 billion people/km. At the same time, a steady decrease in the volume of water transport is typical, which amounted to only 8.5 billion people/km. The country has regular flights on more than 1,100 airlines, including 130 international airlines connecting Chinese cities with 60 cities in more than 30 countries. The aircraft fleet includes 1143 civil aviation aircraft for various purposes, incl. 566 transport aircraft.
China has 16 major seaports with 1,772 berths with a total length of 212,290 m, which handle 1,426.34 million tons of cargo per year. The largest seaports of China in terms of cargo turnover per year (million tons): Shanghai (220.1), Guangzhou (128.2), Tianjin (113.7), Qinhuangdao (Hebei Province) (113.0), Qingdao ( 104.0) and Dalian (100.5). China has 23 large river ports with 7,070 berths with a total length of 299,461 thousand meters, of which the largest are the ports of Wanzhou, Nanjing, Wuhan, Changzhou, Nantong and Chongqing on the Yangtze River.
The total volume of services provided by the communications sector amounted to (billion yuan) 554.7, of which 49.5 are postal operations, 505.2 are telecommunications. The postal system is basically a complex computer network. With its help, such types of postal operations as express mail, distribution of newspapers, etc. are carried out. In 2002, the total number of fixed telephone subscribers was 214.42 million, and the total number of fixed and mobile telephone subscribers was 421.04 million. Thus, in China, every third resident of the country has a telephone connection. The Internet is growing rapidly. To con. In 2001, the number of its subscribers amounted to 33.7 million people, 12.54 million computers were connected to the network, and in terms of the number of Internet users, China ranks second in the world after the United States.
Retail trade volume (billion yuan) – 4091.1, incl. in cities 2589.8, in rural areas 1501.3 (2002). In the past 2-3 years, there has been an increase in the sale of consumer goods in the domestic market due to measures to increase wages for low- and middle-income segments of the population in 1999. The volume of wholesale trade is 2786.0 billion yuan. Wholesale (billion yuan): total purchases 2704.5, total sales 2695.0, inventory 284.3 (end of 2001). At the same time, most of the turnover in wholesale trade is accounted for by energy resources, metals, food, beverages and tobacco.
The volume of services in catering enterprises is 509.2 billion yuan, in other industries – 795.9 billion yuan. In recent years, new types of services have emerged related to the development of telecommunications, the production of passenger cars and the increase in sales of electrical appliances and electronics.
In 2002, trips to China amounted to 877.82 million visits. Domestic tourism revenue 387.8 billion yuan. Tourists from abroad received 97.91 million people-visits, of which foreigners – 13.44 million people-visits, Chinese from Taiwan, Hong Kong and Macau – 84.47 million people-visits. Foreign exchange earnings from foreign tourism 20.4 billion US dollars. 16.6 million Chinese citizens went abroad, of which 10.6 million people. went on private visits.
In the field of economic and social policy, despite the implementation of the slogan “socialist market economy”, the Chinese leadership continues to use planning methods. The highest state bodies are mainly engaged in planning at the macro level, developing a strategy for economic and social development, regulating the main macroeconomic proportions, calculating the main macroeconomic indicators, and creating conditions for the development of market relations. The main attention is paid to the preparation of laws, various normative documents that determine the relationship between producers. In March 2001, at the 4th session of the NPC, the draft “Basic Provisions of the 10th Five-Year Economic and Social Development Plan of the PRC” was approved. According to this plan, in 2001-05, an average annual growth rate of GDP production is envisaged at the level of 7%. The share of agriculture in GDP will have to decrease, the share of industry and services will increase, the share of people employed in industry and services will increase, and the share of agriculture will decrease significantly. Particular attention is paid to the development of infrastructure in the lagging western regions of China. Large investments have been allocated for the construction of large facilities, such as the Sanxia hydroelectric power plant on the Yangtze River, the Golmud-Lhasa railway to Tibet, the West-East gas pipeline (Urumqi-Shanghai) from the gas producing regions of Xinjiang to the economically developed East China. the share of those employed in industry and the service sector will increase, and it will significantly decrease in agriculture. Particular attention is paid to the development of infrastructure in the lagging western regions of China. Large investments have been allocated for the construction of large facilities, such as the Sanxia hydroelectric power plant on the Yangtze River, the Golmud-Lhasa railway to Tibet, the West-East gas pipeline (Urumqi-Shanghai) from the gas producing regions of Xinjiang to the economically developed East China. the share of those employed in industry and the service sector will increase, and it will significantly decrease in agriculture. Particular attention is paid to the development of infrastructure in the lagging western regions of China. Large investments have been allocated for the construction of large facilities, such as the Sanxia hydroelectric power plant on the Yangtze River, the Golmud-Lhasa railway to Tibet, the West-East gas pipeline (Urumqi-Shanghai) from the gas producing regions of Xinjiang to the economically developed East China.
At the 16th CPC Congress (November 2002), in the field of social policy, the Chinese leadership put forward the slogan of building a society of small prosperity (“Xiaokang”). In ancient times, in rural areas of Northern China, the “xiaokang” society included villages in which each family had 20 mu (1 mu \u003d 0.06 ha) of land, one head of cattle and a warm kan (bed) in the house. Currently, this concept provides for an annual per capita income of at least $1,000. In many parts of the country, especially in the cities of central subordination (Beijing, Shanghai, Tianjin), coastal provinces (Guangdong, Zhejiang, Jiangsu), the average per capita income already exceeds this figure, but in most parts of China, especially in the backward western regions, this figure is much lower.
In China, the functions of the central bank are carried out by the People’s Bank of China. There are also four specialized branch banks: 1) Commercial and Industrial Bank of K.; 2) Agricultural Bank of China; 3) Bank of China; 4) People’s Construction Bank of China. In 1994, three “political” banks were created – the State Development Bank, the Agricultural Development Bank of China and the Export-Import Bank of China, which began to compete with the four branch Chinese banks. In 1995-96, 14 national and regional commercial banks were created, as well as a large number of various non-banking financial institutions, which began to play an active role in the country’s financial life. From con. 1990s these financial structures began to actively participate in the restructuring of unprofitable state-owned enterprises that have bad debts to banks.
The money supply is growing quite rapidly. In con. 2002, the money supply in circulation (M2) was 18.501 trillion yuan (180.7% of GDP), the money supply in circulation (M1) was 7.088 trillion yuan (69.5% of GDP) and the supply of cash in circulation (M0) was 1.727 trillion yuan (16.9% of GDP). The balance of deposits and deposits in monetary institutions of China in yuan and foreign currency amounted to 18.338 trillion, the balance of loans of all types was 13.980 trillion yuan.
There are two stock exchanges in China – in Shanghai and Shenzhen. In 2002, they issued and distributed shares worth 96.2 trillion yuan. Incl. there were 102 issues of series A shares (for domestic circulation of Chinese enterprises) totaling 78.0 trillion yuan and 16 issues of series B shares (for foreign circulation) for a total of USD 18.2 billion. The number of Chinese companies that entered the market with series A and B shares was 1224, the market value of the shares was 3832.9 trillion yuan.
State budget (billion yuan, 2001): revenues 1638.6, expenditures 1890.3, deficit 251.7. From the beginning 1980s The state budget of the PRC is regularly reduced to a deficit that has been growing for more than 20 years. State budget indicators do not include internal and external debts. Since 1982, the state budget has been divided into two parts – the state budget and the construction budget. In particular, in 2002, state budget revenues amounted to 1890.4 billion yuan, and expenditures – 2205.3. But if the main budget was distributed between the central and local governments in the revenue part in the ratio of 52.2:47.8, in the expenditure side – 34.7:65.3, then the construction budget was mainly provided by local governments – in the revenue part in the ratio of 6, 5:93.5, in the account – 6.0:94.0.
Most of the state budget of the PRC is formed by taxes – 93.4% (2001). There are five types of taxes in total: 1) commercial and industrial tax, which makes up the bulk of tax collections (approximately 83% of all taxes); 2) customs fees; 3) agricultural tax; 4) income tax from state enterprises; 5) income tax from collective enterprises. A significant part of the state budget expenditures goes to capital construction (34.2% of all expenditures), to the development of the social sphere, culture and education (27.6%), to defense (7.6%) and administrative expenses (18.6%).
The public debt of the PRC is 460.4 billion yuan (2001), of which domestic debt is 448.4 billion yuan, and external borrowing is 12.0 billion yuan. The total disbursement was 200.7 billion yuan, of which 192.3 billion yuan was for the domestic part and 8.43 billion yuan for the external part. The total amount of external debt in foreign currency is $170.1 billion, of which $23.7 billion is debt to foreign governments, $27.6 billion to international financial organizations, $97.2 billion is commercial loans, 21.6 billion dollars – others. Long-term and medium-term debt obligations – 119.53 billion dollars, short-term – 50.58 billion dollars. However, in 2003 foreign exchange reserves amounted to 402 billion dollars and increased by 115.6 billion dollars compared to 2002. So for all major indicators – the ratio of public debt to GDP,
The average salary of workers and employees is 12,422 yuan per person. per year (2002). At the same time, wages differ markedly by forms of ownership, sectors of the national economy and regions. The average per capita annual income for residents of cities and towns is 7703 yuan, the average per capita annual income for rural residents is 2476 yuan (2002). The Engel index for the urban and rural population (the share of food expenses in total family income) is 37.7 and 46.2%, respectively. In recent years, families’ spending on durable consumer goods (including computers and cars), education, housing, and medical care has risen markedly. The income gap between the rich and the poor is constantly widening. The ratio of income between the 10% of the population with the lowest incomes and the 10% with the highest incomes (Gini coefficient) has increased during the years of reforms from 0.33 in 1980 to 0.45 in 2000. In rural areas, on average, there are 26.5 m2 of living space per person, in cities and towns – 22.8 m2 (2002). The total amount of cash savings among the Chinese population amounted to 7376.2 billion yuan, or 5780 yuan (about $ 700) per 1 person. (2001). In 2002, 147.31 million people were covered by the social insurance system, incl. 111.28 million workers and employees and 36.0 million pensioners. The basic unemployment insurance system covers 101.8 million workers and employees, annually receive subsidies from this St. 4 million people The basic health insurance system covers 94.0 million people. In China, the number of poor people is constantly decreasing. In con. 2002, the number of rural poor was 28,
Foreign trade turnover in 2002 reached 620.8 billion US dollars. Export 325.6 billion dollars, import – 295.2 billion dollars. Main export partners (billion dollars, 2002): USA (97), Hong Kong (69), Japan (102), South Korea (44). Main import partners (billion US dollars, 2002): Japan (53.5), USA (27), Taiwan (38), South Korea (28.5). Over the years of reform, foreign direct investment (FDI) has grown rapidly. In 1979-2001, St. 700 billion US dollars, only in 2002 contracts were signed in the amount of 82.8 billion US dollars, and the volume of actually used FDI was 52.7 billion US dollars. In 2002, the total annual volume of completed projects amounted to 14.4 billion US dollars, contracts were signed for the amount of 17.9 billion US dollars.
