Macroeconomic Trends
See also: Historical GDP of the People's Republic of ChinaIn January 1985, the State Council of China approved to establish a SNA (System of National Accounting), use the gross domestic product (GDP) to measure the national economy. China started the study of theoretical foundation, guiding, and accounting model etc., for establishing a new system of national economic accounting. In 1986, as the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Dr. Fengbo Zhang headed Chinese Macroeconomic Research – the key research project of the seventh Five-Year Plan of China, as well as completing and publishing the China GDP data by China's own research. The summary of the above has been included in the book Chinese Macroeconomic Structure and Policy (1988) Editor: Fengbo Zhang, collectively authored by the Research Center of the State Council of China. This is the first GDP data which was published by China. The State Council of China issued "The notice regarding implementation of System of National Accounting" in August 1992, the SNA system officially is introduced to China, replaced Soviet Union's MPS system, Western economic indicator GDP became China's most important economic indicator (WikiChina: China GDP, The First China GDP).
The table below shows the trend of the GDP of China at market prices estimated by the International Monetary Fund (IMF) with figures in millions (Chinese yuan). See also. For purchasing power parity comparisons, the US dollar is exchanged at 2.05 CNY only.
| Year | Gross domestic product | US dollar exchange | Inflation index (2000=100) |
Nominal Per Capita GDP (as % of USA) |
PPP Per Capita GDP (as % of USA) |
|---|---|---|---|---|---|
| 1955 | 91,000 | 2.46 | 19.2 | 2.43 | - |
| 1960 | 145,700 | 2.46 | 20.0 | 3.04 | - |
| 1965 | 171,600 | 2.46 | 21.6 | 2.63 | - |
| 1970 | 225,300 | 2.46 | 21.3 | 2.20 | - |
| 1975 | 299,700 | 1.86 | 22.4 | 2.32 | - |
| 1980 | 460,906 | 1.49 | 25.0 | 2.52 | 2.04 |
| 1985 | 896,440 | 2.93 | 30.0 | 1.65 | 2.84 |
| 1990 | 1,854,790 | 4.78 | 49.0 | 1.48 | 3.43 |
| 1995 | 6,079,400 | 8.35 | 91.0 | 2.17 | 5.44 |
| 2000 | 9,921,500 | 8.27 | 100.0 | 2.69 | 6.75 |
| 2005 | 18,308,500 | 8.19 | 106.0 | 4.05 | 9.61 |
| 2010 | 25,506,956 | 6.97 | 112.0 | 6.23 | 15.90 |
Read more about this topic: Economy Of The People's Republic Of China
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