China Country Profile
China Country Profile
China Country Profile
Introduction:
China is located in Eastern Asia, bordering the East China Sea, Korea Bay, Yellow Sea, and
South China Sea, between North Korea and Vietnam. It is the world’s most populous
country with 1.5 billion population and area of 9,596,961 Square Kilometers. Its vast
landscape encompasses grassland, desert, mountain ranges, lakes, rivers and 14,500km of
coastline. Beijing, the capital, mixes modern architecture with historic sites including
sprawling Tiananmen Square. Its largest city, Shanghai, is a skyscraper-studded global
financial centre. The iconic Great Wall of China fortification runs east-west across the
country's north.
China's constitution states that The People's Republic of China "is a socialist state under the
people's democratic dictatorship led by the working class and based on the alliance of
workers and peasants," and that the state organs "apply the principle of democratic
centralism." The PRC is one of the world's few remaining socialist states openly endorsing
communism.
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Country Profile : China
Population
The Chinese population is unevenly distributed, with the eastern part heavily populated
(more than 300 persons per square kilometer) and the west scarcely populated (about 40
persons per square kilometer). The national average density of population is 119 per square
kilometer (1990 census). The average size of household is 3.7 persons. The proportion of
population aged at 0-14 was 26.4 percent, 67.3% between the ages 15-64, and 6.4% for the age
group of over 65. The average life span of the Chinese population is 70.8 years, with the
male at 68.71, and female at 73.04.
Although most Chinese still live in rural areas, China's cities are growing rapidly as people
move from rural areas to cities, seeking better economic opportunities. About 36 percent of
China's population now lives in urban areas. About 64 percent live in rural areas. Most of
the rural residents are involved in agriculture. Of the total population, 93 percent are Han
Chinese. These are the people whom non-Chinese often consider to be the Chinese.
Economy
Since the late 1970s China has moved from a closed, centrally planned system to a more
market-oriented one that plays a major global role - in 2010 China became the world's largest
exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to
include the gradual liberalization of prices, fiscal decentralization, increased autonomy for
state enterprises, growth of the private sector, development of stock markets and a modern
banking system, and opening to foreign trade and investment. China has implemented
reforms in a gradualist fashion. In recent years, China has renewed its support for state-
owned enterprises in sectors considered important to "economic security," explicitly looking
to foster globally competitive industries. The restructuring of the economy and resulting
efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
Measured on purchasing power parity (PPP), China in 2015 stood as the largest economy in
the world, surpassing the US in 2014 for the first time in modern history. Still, China's per
capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved
to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008
cumulative appreciation of the renminbi against the US dollar was more than 20%, but the
exchange rate remained virtually pegged to the dollar from the onset of the global financial
crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2015
the People’s Bank of China (PBOC) announced it would continue to carefully push for full
convertibility of the renminbi after the currency was accepted as part of the IMF’s special
drawing rights basket.
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Country Profile : China
GDP
PPP $14,300 billion
Real growth 6.8%
rate
Per capita $14,300
Composition agriculture: 8.9% industry: 42.7% services: 48.4%
International
Trade
Export $2.27 trillion
Major Export electrical and other machinery, including data
Item processing equipment, apparel, furniture, textiles,
integrated circuits
Major Export US, Hong Kong, Japan, South Korea,
partner
Import $1.596 trillion
Major Import electrical and other machinery, oil and mineral fuels;
Items nuclear reactor, boiler, and machinery components;
optical and medical equipment, metal ores, motor
vehicles; soybeans
Major Import South Korea, Japan, US, Taiwan, Germany Australia
partner
Source: CIA Fact book
It is a well established fact that China has a very strong domestic as well as external sector.
China is world leader in gross value of agricultural output; rice, wheat, potatoes, corn,
peanuts, tea, millet, barley, apples, cotton, oilseed; pork; fish. Similar to Agricultural sector
manufacturing sector has also established itself in the world market. The major industrial
output are mining and ore processing, iron, steel, aluminium, and other metals, coal;
machine building; armaments; textiles and apparel; petroleum; cement; chemicals;
fertilizers; consumer products (including footwear, toys, and electronics); food processing;
transportation equipment, including automobiles, rail cars and locomotives, ships, aircraft;
telecommunications equipment, commercial space launch vehicles, satellites.
India is also a major trading partner of China. India exported US$ 11,934.2 Million of goods
to China during 2014-15 while imported US$ 60,413.17 million during the same time period.
The value of Indian handicrafts export to China was US$ 49.19 million in 2014-2015 which
0.41 was percent share of the export to China.
US$ Million
Sl. no Items 2013-2014 2014-15 Growth
rate
1. ARTMETALWARES 3.43 6.95 50.6
2. WOODWARES 2.98 6.16 51.6
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Country Profile : China
Trade Policy1:
China became a WTO Member on 11 December 2001. China is an observer to the Plurilateral
Agreement on Government Procurement (GPA) and is in the process of negotiating its
accession thereto. China's notifications to the WTO cover a wide range of agreements;
however updated notifications appear to be necessary in the area of subsidies. Between 2012
and 2013, China was involved in 4 dispute settlement cases as a complainant, 8 cases as a
respondent, and 15 cases as a third party.
In the area of trade in goods, China has continued its efforts to facilitate trade, which date
back to 2006, by launching a series of reforms, including the introduction of paperless
customs clearance procedures. However, despite these efforts, customs procedures across
the country still require harmonization. In addition, none of the trade facilitation measures
implemented so far applies to goods subject to licensing or other restrictions. The tariff
regime has not changed substantially since the last review. China's applied MFN tariff in
2013 consisted mainly of ad valorem rates (99.5% of the total number of lines). The non-ad
valorem rates comprise specific and alternate rates, and formula duties. China's average
applied MFN rate in 2013 was 9.4%, almost unchanged since 2011 and 2009 when the
average stood at 9.5%. The applied tariff continues to be higher for agricultural products
(WTO definition), at 14.8%, showing a slight decline from the averages for 2009 and 2011.
The average tariff on non-agricultural products has remained unchanged since 2009, at 8.6%.
Import licensing, restrictions and prohibitions are maintained on grounds of state security;
public morality; human, animal and plant health; environmental protection; balance of
payment reasons; and to comply with international commitments. However, these lists can
be adjusted as necessary, and imports of goods that are not included in the Catalogue can be
restricted or prohibited on a temporary basis by the relevant authorities.
1 Available at : https://www.wto.org/english/tratop_e/tpr_e/s300_sum_e.pdf
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Country Profile : China
DETAILS
S.No. ITEMS
China is located in Eastern Asia, bordering the
East China Sea, Korea Bay, Yellow Sea, and
1 LOCATION OF COUNTRY South China Sea, between North Korea and
Vietnam.
communist state
2 GOVERNMENT & ADMINISTRATION
Beijing
3 CAPITAL OF THE COUNTRY
Mr. Xi Jinping, President
4 HEAD OF THE GOVERNEMNT
IST+2.3 hours
6 TIME AND TIME DIFFERENCE FROM INDIA
East Asia
7 ECONOMIC REGION/ZONE
China shares border with the East China Sea,
Korea Bay, Yellow Sea, and South China Sea,
8 NEIGHBOURING COUNTRIES
between North Korea and Vietnam.
9,596,960 sq km
9 AREA COVERED
Chinese
10 OFFICIAL LANGUAGE
Mongolian, Tibetan, Uyghur, Zhuang
11 LANGUAGE SPOKEN
1,367,485,388
12 POPULATION
Buddhist 18.2%, Christian 5.1%, Muslim 1.8%,
13 MAJOR RELIGION folk religion 21.9%, Hindu .1%, Jewish
220V, 50HZ
14 ELECTRICITY SUPPLY SYSTEM-VOLTAGE
Rail, which is the primary mode of transport,
has also been used for long distances, has
doubled in length since the mid-twentieth
century, and an extensive network provides
15 TRANSPORT SYSTEM
service to the entire nation. The larger cities
have metro systems in operation, under
construction, or in the planning stage.
The highway and road system also has gone
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Country Profile : China
China
ITC HS MFN Preferential
Description
Code rate rate
330190 ATTARS OF ALL KINDS IN FIXED OIL BASE 20 18
AGARBATTI" & OTHR ODORIFEROUS PRPNS
330741
WHICHOPERATE BY BURNING 10
OTHER ODORIFEROUS PRPNS USD FOR
330749
DEODORIZING ROOM (EXCL AGARBATTI) 10
340600 CANDLES 10
WATCHBOX JEWELLERY BOX AND SIMILAR
392310
CONTAINER OF PLASTICS 10 7
WOODEN FRAMES FOR PAINTING,
441400
PHOTOGRAPHS, MIRRORS OR SIMILAR OBJECTS 20
441900 TABLEWARE 0
442010 STATUTTES & OTHER ORNAMENTS OF WOOD 0
442090 WOOD MARQUETRY & INLAID WOOD 0
PARTS OF DOMESTIC DECORATIVE ARTICLES
442190
USED AS TABLEWARE & KITCHENWARE 0
COIR MATS & MATTING BOUND IN PARALLEL
460120
STAND
PLNTS & SMLR PRDCTS OF PLATNG MATRLS
PLATS& SMLR PRODCTS PLACD SIDE BY SIDE &
460199
BOUND TOGETHER IN FORM OF SHEETS (E.G.MATS
ETC) 9
460219 PALM LEAF BASKET ETC 9
BASKETWORK, WICKERWORK AND OTHER
460211
ARTICLES, OF BAMBOO. 9
BASKETWORK, WICKERWORK AND OTHER
460212
ARTICLES, OF RATTAN. 9
OTHER - FURNISHING
630491
ARTICLS,KNTD/CROCHETED 14
630790 DRESS MATERIAL HANDPRINTED OF SILK 14
HATS & OTHR HEADGEAR PLTD/MADE BY
650400 ASSMBLNGSTRIPS OF ANY MATRLS W/N
LIND/TRMMD
OTHER HEADGEAR, HATS, KNITTED /
650590 CROCHETTED MADE UP FROM LACES ETC W/N
LIND/TRMMD
WALKING STICKS, SEAT STICKS, WHIPS, RIDING
660200
CROPS, AND THE LIKE 10
670100 FEATHERS DUSTERS
670290 ARTIFICIAL FLOWERS ETC OF OTHER MATERIALS 21.6
OTHERS-OTHER ARTCLS OF STONES/OTHR
681599
MINRLS 17.22
OTHERS -WATER FILTERS OF A CAPACITY NOT
691190
EXCEEDING 40 LTRS. OF PORCELAIN 24.5 20
OTHER - GLSSWR FR TBL KTCHN,TOLT,OFFC
701328
INDOR DCORTION (EXCL GOODS OF HDG NO 8
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Country Profile : China
7010/7018)
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