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China

Capital City: Beijing
%T:%M %A in Beijing
China has become an inevitable actor in the world economics and the country now represents 4% of the world GDP. The economic growth remains high with a 9.3% GDP growth rate in 2003, 9.5% in 2004 and 9% in 2005. The FMI forecasts an 8.2% growth in 2006. These good performances can be explained by a sustained domestic consumption, a boom in the private investments and an increase in the external demand (Chinese exports went up by 28% in 2005). Finally, with China becoming a member of WTO in December 2001, the influx of FDI (foreign Direct Investments) has been reinforced and it has reached 60.6 billion dollars in 2004, which accounts for half of Asia's IDEs.

With 70% of its population living in the rural world, China keeps ranking first in the world concerning numerous productions such as wheat, cotton, potatoes, rice, pork and mutton. Agriculture only contributes to 15% of the GDP. In the mining sector the production of non-ferrous metals is increasing. China has become the second largest oil consumer in the world.

The industrial sector is undergoing a deep restructuring : the public sector is gaining in terms of productivity and the number of private companies is constantly increasing, especially in the service industry. Privates companies subcontract their activities (textile, furniture, electronic...) to benefit from the cheap Chinese workforce.

The top trade partners of China are Japan, the United States and South Korea. Taiwan, Hong-kong and Germany also are first plan partners. China mainly imports electronic components, machines, hydrocarbons and steel. Rail and urban transport, food, beauty care and high technologies are listed among the sectors whose expansion is going in full swing.

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