Economy of China

The People's Republic of China (PRC) has a socialist market economy, incorporating industrial policies and strategic five-year plans. China has the world's second-largest economy by nominal GDP and since 2016 has been the world's largest economy when measured by purchasing power parity (PPP). China accounted for 19% of the global economy in 2025 in PPP terms, and around 17% in nominal terms in 2025.

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