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China GDP trends


China continued its bullish growth rate by posting another above 9.6% GDP growth rate in 2011, reaching a total of USD 7275 billion that year (USD1=RMB6.5). Average GDP growth rate of the rest of the world economy was only about 3.3% on average during the same period. Overall, it suggests a booming time for China with living standards rising as evidenced by the proliferation of consumer durables, especially among the urban population. China had also elevated itself to become the world's second largest economy and the largest trader in 2012.

Over the years, Chinese economy growth transition brings about improvement in Chinese people’s standard of living and upgrades consumption spending. According to experts from China Machinery Industry Federation, car begun to enter into families when the country’s GDP per-capita reaches US$1000; private car purchase will become common when the figure reaches US$3000. Such example are large cities such as Beijing and Guangzhou.

Furthermore, upgrades in consumer spending promotes fast growing industries such as electronic telecommunications, auto and housing as the main driving forces of China. In addition, it develops service sector rapidly and the elevation of the level of service industry will be an evitable trend. Such revolution will bring about changes in China’s business economy as investors move along with China’s economic development.

Below is the chart of  China GDP and real GPD growth rate from year 1978 - 2011:

China GDP trends


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