where does china's economy rank in the world
Economy of China The socialist market economy of the People's Republic of China[21] is the world's second largest economy by nominal GDP[1][22][23] and the world's largest economy by purchasing power parity.[24] Until 2015, China was the world's fastest-growing major economy, with growth rates averaging 10% over 30 years.[25][26] Due to historical and political facts of China's developing economy, China's public sector accounts for a bigger share of the national economy than the burgeoning private sector.[27][28] According to the IMF, on a per capita income basis China ranked 71st by GDP (nominal) and 78th by GDP (PPP) per capita in 2016. The country has an estimated $23 trillion worth of natural resources, 90% of which are coal and rare earth metals.[29] China also has the world's largest total banking sector assets of $39.9 trillion (252 trillion CNY) with $26.54 trillion in total deposits.[30][31]
China China, officially the People's Republic of China (PRC), is a unitary sovereign state in East Asia and the world's most populous country, with a population of around 1.404 billion.[13] Covering approximately 9.6 million square kilometres (3.7 million square miles), it is the world's second-largest state by land area[19] and third- or fourth-largest by total area.[j] Governed by the Communist Party of China, it exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing) and the Special Administrative Regions Hong Kong and Macau, also claiming sovereignty over Taiwan. China is a great power and a major regional power within Asia, and has been characterized as a potential superpower.[20][21]