China’s economy and technology is world famous for being matchless. The drastic fall down in prices of technology has enabled even a man with limited means to afford and enjoy access to gadgets that were earlier entitled to rich sector only. This economy has strived for perfection thus has managed to enjoy 30 years of tremendous growth in terms of profit and overall advancement. It is regarded as world’s largest economy which is highly successful and its success is highly credited to government spending that as always focused on major breakthrough in the domain of technology.

China’s economy measures its profits and valuable business from its gross domestic product. This thesis consists of three independent chapters on Chinese economy. The exceptional growth of Chinese economy is fuelled by many factors that include massive government spending.

Major Factors of Chinese Economy Growth

Such major expense had been mapped to state-owned companies that are sort of monopolized in the market and overall industries. Counting on the big three industry giants these are Sinopec, PetroChina (CNPC), and CNOOC.  However, these record less profit than many other private firms but have got special attention and consideration from the government.

Another factor that has upscaled this economy in substantial percentage is many foreign ventures express their interest in selling out specific category of goods to the Chinese population. This leads to opening of factories and production units in the country that further employ Chinese workers. Also, these foreign entities invest their business motives in trade to access to their technology. This thereby has facilitated many Chinese companies to ways to make the products without external intervention.

Another important factor that leads to boost in Chinese economy is the fact that People’s Bank of China, which is graded as nation’s central bank, exercises tightly control on the comparative value of yuan to dollar value. Further, this bank sets in place some policies related to pricing of exports to the United States, thereby limiting the rate of product manufactured in America.

This economy has also reaped stunning advantages of growth the primary being reduction in poverty. China comprises of 20 percent of world’s population wherein they hold a major grip on the overall economy.This also facilitates Chinese population to emerge as bigger consumers thus attracting more companies to sell in their market. Also, in order to sustain this buying and selling relationship, the products are customized to Chinese tastes.

Over the past few years, Chinese technology market is growing making it world’s biggest economic leader. Apart from this, it has also emerged as a world’s biggest producer of aluminum and steel touching export growth rate to 25 percent in 2015. China is a name synonymous to technological advancement since the tech companies here are quickly becoming world-class some of which includes Xiami and Huawei that has made a mark in producing highly advanced smartphones.

Chinese economy is a forward looking economy that has its target at creating and hunting for more innovative and creative companies. The emergence of such entities can only arise from entrepreneurship. The leaders in China know how to walk a fine line but have their strategies in place to take steps to boost domestic demand to limit dependency on exports. Also, it has sty started to diversify into a market-based economy which hints reduced dependency on state-owned companies. The outlook is to join hands with privately-owned companies to access rewards of working in a highly competitive environment.

The new ventures in this economy have done well in boosting investment in China’s stock market to make them self-standing and wave away debt. The companies are also strategizing to selling more stocks so that growth can be funded.

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