DEFENCE & SECURITY OUTLOOK ON PRC (CHINA)

China is a powerful Asian country and has evolved as a leading regional and global military power in the 21st century. Safeguarding its territorial integrity while maintaining domestic and regional stability has driven the country towards a rapid expansion of its military might. While strongly defending its territory, China has also adopted an assertive policy over strategic issues in the Asian continent. The military organisation of the country, called the People’s Liberation Army (PLA), is controlled by the Central Military Commission (CMC) which is the supreme defence policy making body. The Chairman of the CMC is the Commander-in-Chief of the PLA. The active forces of PLA consist of the Army, Navy, Air Force, PLA Rocket Force (erstwhile Second Artillery Corps), military schools and national defence scientific research institutions. China has rapidly modernised its armed forces in the aftermath of the two Gulf Wars fought in 1990 and 2003. Once following “limited local war” strategy evolved from Mao Zedong’s “protracted people’s war”, the PLA of today has adopted the “people’s war under hi-tech conditions” tactics as part of its modernisation drive that began in 1993. The new warfare tactics rely more on advanced technology than on troops. The “people’s war” strategy, based on large-scale land and guerrilla warfare methods, was designed to confront mainly Japan and the erstwhile Soviet Union. However, the doctrine became redundant following the disintegration of Soviet Union in 1991. Shifting away from such warfare methodology to a modern, hi-tech condition was necessitated after the rise of the US as the supreme world power.Of late, the PLA has followed the doctrine of “active defence” relying on state-of-the-art military hardware, modern high-tech weapons, precision guided munitions, sophisticated command & control systems coupled with a strict military training regime and large-scale use of information technology. The new military doctrine along with structural changes in its armed forces, development of pre-emptive strike capability, change in warfare methodology, C4I2SR, ground, sea and airspace-based surveillance and information technology have gained importance in present-day Chinese armed forces. By making efforts to acquire advanced military capabilities, China has steadily transformed its posture to that of an aggressive power. The country has ramped up efforts to build and deploy strategically critical missile systems capable of not only defending its territory but also launch offensive strikes against potential enemy installations. Advanced and extensive researches have been undertaken in the past decades to develop anti-ship ballistic missile system (ASBM), ballistic missile defence (BMD) capabilities and even anti-satellite weapons (ASW) to carry out space war. All these powerful weapons have been developed as part of China’s “anti-access and area-denial” (A2AD) strategy. In 2010, China for the first time conducted a ground-based mid-course interceptor missile test which demonstrated its capability to track down and destroy mid-course ballistic missiles, with many defence experts believing that the country was nearing to achieve BMD capability. In January 2013, PRC conducted another such test to exhibit that it is increasing its potential in missile interception capabilities. The test was followed by another one in 2014 during which a land-based mid-course missile interceptor successfully traced, tracked and destroyed a ballistic missile flying in outer space. In February 2018, Beijing announced yet another successful test firing of its ground-based mid-course anti-missile interceptor system. Back in 2007, the country had also tested a ground-based direct-ascent anti-satellite (ASAT) weapon to destroy one of its defunct weather satellites, proving its capability to attack satellites and space assets in low-Earth orbit. The successful ASAT mission demonstrated China’s prowess to launch space warfare missions and was viewed by many countries as a serious threat to their vital space-based systems. In May 2013, Beijing launched a rocket into space which later re-entered Earth’s atmosphere above the Indian Ocean. According to military experts, the test was a new interceptor weapon that could be used to destroy satellites in orbit. Another test of a similar weapon, designated Dong Neng-3 (DN-3), was conducted in October 2015. In yet another new military technical breakthrough in January 2014, China test flew a hypersonic glide vehicle (HGV) capable of cruising at a top speed of Mach 10. The HGV test, marking a step beyond China’s ASBM programme, featured a slower, shorter-range manoeuvrable re-entry vehicle (RV). 

The ultra-high-speed vehicle was launched into space by an intercontinental ballistic missile. A second test flight of the new system was carried out in August 2014 followed by one more test reported in December 2014. In June 2015, the Chinese Defence Ministry confirmed the fourth test of hypersonic nuclear delivery vehicle followed by a second test that year in August 2015 and yet another test in November 2015, which was the sixth test launch of the new weapon. The most recent test of the glider vehicle took place in April 2016. In October 2017, China for the first time publicly revealed the images of the hypersonic vehicle along with a hypersonic wind tunnel that is being used for testing the HGV. The country continued to undertake more tests involving hypersonic technology in 2018. Another frontier that has come to occupy centre-stage in China’s overall military strategy is the strengthening of its asymmetric warfare capabilities involving cyberspace. China has accelerated its activities in cyberspace domain by developing newer capabilities to not only defend its information technology network but even launch offensive operations against its adversaries. Acknowledging the potentiality of information technology in military arena which can have wider implications from both tactical as well strategic perspectives, China has swiftly built up its information warfare capability to launch computer network-based war that could paralyse and upset the entire civilian and military apparatus of a country by taking control of its information & information-based systems. Development of electronic countermeasure weapons, cyber espionage and carrying out attacks on internet network are becoming potential tools for China to launch cyberspace-based operations. One of the most vital aspects of modern Chinese military build-up is the rapid growth of its maritime power. As the country expands its economic horizons and realises the increased importance of sea lanes as vital trading routes, it is adopting a strategy of “sea control” and “sea denial” to ascertain its supremacy over water resources within its territory and beyond. The country’s navy has focused on strengthening its anti-surface, anti-submarine and anti-air warfare capabilities while building up a credible at-sea nuclear deterrent. The PLA’s air power too has taken significant strides in the present century by deploying new-generation stealth warplanes/ bombers, combat helicopters, drones, long-range transporters, refuelling tankers along with advanced weapon systems to carry out integrated operations alongside the Army and Navy. According to a Pentagon report, China’s air force is “pursuing modernisation on a scale unprecedented in its history and is rapidly closing the gap with Western air forces across a broad spectrum of capabilities including aircraft, command and control, jammers, electronic warfare and data-links.” The steady enhancement and expansion of PLA’s military aviation capabilities is clearly marked by the fact that the country announced the establishment of an air defence identification zone (ADIZ) over a swath of the disputed East China Sea in December 2013. The move was aimed at putting the Air Force at the forefront in the eventuality of a war and thereby supporting the country’s expanded maritime power projection. In recent past, China has also invoked its right to set up an ADIZ in the hotly disputed South China Sea region, more so after an International Court ruled in favour of Philippines over a disputed region in the SCS. In a recent decision taken by the CPC, China has announced to optimize the size and structure of its army, while also focusing on optimizing the function and institution settings of the Central Military Commission. In September 2015, Beijing announced that its 2.3 million strong People’s Liberation Army, the world’s largest military, would be cut by 3,00,000 troops. The troops cut exercise was completed in 2018 and the PLAGF now remains a two-million-strong force. A 2017 report further stated that number of troops in the PLA Ground Forces would be reduced to less than one million in the coming years even as the troops strength of PLA Navy, PLA Strategic Support Force and PLA Rocket Force would be increased while the PLA Air Force’s active service personnel will remain the same.

The country has also announced to strengthen the joint operational command authority under the CMC, and the theatre joint operation command system. The new joint operational command structure would be completed by 2020. In yet another sweeping reform carried out in 2015, Beijing has integrated the PLA area commands overseeing two neighbouring countries – India and Pakistan, thereby junking its Soviet-era model for a US-style joint command structure to fortify the ruling Communist Party’s control. Of the seven military area commands – at Beijing, Nanjing, Chengdu, Jinan, Shenyang, Lanzhou and Guangzhou – the Chengdu military command was in charge of security along India’s Eastern sector in the Tibet region including Arunachal Pradesh while the Lanzhou military command looked after the Western sector, including the Kashmir region and Pakistan. As per the new strategic zone plan unveiled by President Xi, both the Chengdu and Lanzhou have been integrated into a strategic command region, making it perhaps the biggest areas for the PLA. The overhaul is aimed at moving away from an army-centric system towards a Western-style Joint Command in which the Army, Navy and Air Force are equally represented. In early 2016, the PLA was reformed again so as to include five new Theatre Commands by replacing the seven previously existing Military Regions. 

The Defence Ministry announced that the new Theatre Commands – North, South, East, West and Central – under the administration of the CMC, would be based on the functions and structure of the military regions (MRs) they replaced, with improved mechanisms for command and logistics. The PLA would establish a Transitional Work Office to ensure a smooth transition from the old MRs to the new Theatre Commands. As part of the overall military reforms initiated by President Xi Jinping, who also heads the decision-making Central Military Commission (CMC) and also assumed the role of Commander-in-Chief of the Joint Battle Command Centre of the CMC in 2016, the PLA has dissolved the four existing general headquarters and instead set up 15 new organisations including the Headquarters of the Joint Force. The restructuring of the CMC has been done to consolidate its authority and further centralise the structure of the People’s Liberation Army. All the reforms have been announced to transform the PLA into a leaner fighting force with improved joint operations capability. 

The urge to grow economically and militarily has driven China to exert its influence in and around the resource-rich areas of Asia-Pacific region, particularly in the South China Sea and East China Sea which are major trading routes and are also believed to treasure huge amounts of oil and natural gas along with fishing and mineral resources. The Asian giant has intensified efforts to expand its footprint in the SCS, ECS and recently, even in the Indian Ocean Region (IOR) by building up new harbours and other infrastructural setups, thereby adding to the worry of the neighbouring littoral states which are at loggerheads with Beijing. In the coming decades, the PLAN is likely to bolster its presence in the IOR significantly by deploying one or more aircraft carrier battle groups (CBGs) and building more naval bases, according to military analysts. China’s growing power projection and aggressive stance over regional and littoral issues has alarmed the international community even though Beijing maintains that it follows a “non-offensive strategy” with a “need to expand” while safeguarding its “rights and interests”. The growing territorial disputes in the Asia-Pacific region, with China being at the centre, have flared up regional tensions and invited global attention and concern. Moreover, the highly secretive military plans and pursuits by the Communist China have cast a blurred picture of the country’s real ambitions and intentions in the longer run. In July 2019, the country released its latest Defence White Paper which, among other aspects assesses the PLA’s progress on modernisation and military reforms. The report also states the official stance of Beijing and its response to the evolving strategic realities of the Asia-Pacific and beyond. Besides, it puts light on a number of key military weapons and platforms that have been commissioned into service of late 2019.

The People Republic of China & IRAN Relations

Reconstruction of SILK ROUTE

The relations between Iranian(Post shah era) and Chinese governments(after 1949) are relatively new, trade and diplomatic relations between the peoples and cultures within these two countries have existed since 200 BC.

These new relations flourished during the cold war era which has grown extensively after collapes of soviet union.

The major reason of the extensive development in the relation in the two countries was the requirement of the oil and gas demands of developing economy of PRC where for Iran re-establishment of and development of militray streangth and capabilities in post cold war era i.e. after the collaps e of soviet union(USSR).

Currently more than 80% of oil and gas requirements of china are satisfied by Islamic Republic of Iran.

Today Iran serves as a permanent member partner of PRC growing Oil and gas demands.  Because of this reliance on Iranian oil and gas, China is now investing in the modernization of Iran’s oil and gas sector to secure access to the resource. 

In 2011, the group Green Experts of Iran reported that Beijing and Tehran had signed an extensive deal that would give China exclusive rights to several Iranian oil and natural gas fields through 2024. Earlier in 2004 the two countries signed a preliminary accord worth $70 billion to $100 billion by which China will purchase Iranian oil and gas and help develop Iran's Yadavaran oil field, near the Iraqi border. Earlier same year, China agreed to buy $20 billion in liquefied natural gas from Iran over a quarter-century.

China -Iran Exponential trade growth

Under the terms of the deal, Iran will give Chinese oil companies exclusive rights to three large regions of Iranian land as well as the rights to build all necessary infrastructure for these regions, all of which sit atop of large oil and natural gas fields. In return, China promises to treat any foreign attack against these regions as attacks against its own sovereign territory, and will defend them as such. China will have no need for prior permission from the Iranian government to maintain and increase its military presence in Iran, and will control the movement of Iranians in and out of these territories.The Green Experts of Iran speculate that this agreement was the concrete basis for Major General Zhang Zhaozhong's statement that "China will not hesitate to protect Iran even with a third World War." 

Apart from the energy partnership between the two nation, china has also strong commercial realtions . the Iraninan apetite for various consumer good has been doubled since 1979 revolution. China imported $3.12 billion of Iranian non-energy goods in 2009, and has also made  extensive nonenergy related infrastructure investments in Iran, including construction contracts for bridges, highways, railways, airport infrastructure, and metro rail systems.  Additionally,  it  is  reported that China has expressed interest in assisting with the development of Iran’s other extractive industries including titanium, aluminum, copper, and coal.

  China  also  exports  manufactured goods to Iran such as computer systems, household appliances, and cars etc. where as Iranian government has also provided special authority and subsidy to the chineses compnaies involved in various infrastructure projects. the mutal cooperation between the two nation is growing despite of the sanction and other restriction imposed by USA, EU and united nation on both the countries.

PRC is home for more than 20 million muslim chinese poupulation which had always been area of concern for PRC government. these developing relation with Iran will help the chinese goverment to improve its image among the Chinese Muslim population staying in the northern part of china

After Iranian Revolution in 1979(post Shah era), Iran’s relationship with the United States, Europe, and the Western countries has deteriorated over issues such as Weapon of mass destruction and terrorist sponsorship. 

With Iran’s every step towards ‘rogue state’ status, the United States, European Union, and United Nations have responded with increasingly proactive sanctions that attempt to target the economic and political pillars of support for the Islamist regime and further isolate Iran from the West. China, meanwhile, has not hesitated to profit from the economic void left by the torrent of Western economic outflow. 

This undue priority of PRC toward the Iraninan interests has developed a new dimension in the world political scenario.

In my next post you will discover how this growing relation between two countries will affect India and rest of the World.

China Economy

                                    A Report 
                                          On
    People Republic Of  China ECONOMY & Its Growth


Introduction

Nowadays China is one of the world's top exporters and is attracting record amounts of foreign investment. In turn, it is investing billions of dollars abroad.

The collapse in international export markets that accompanied the global financial crisis of 2009 initially hit China hard, but its economy was among the first in the world to rebound, quickly returning to growth. In February 2011 it formally overtook Japan to become the world's second-largest economy.

As a member of the World Trade Organization, China benefits from access to foreign markets. But relations with trading partners have been strained over China's huge trade surplus and the piracy of goods. The former has led to demands for Beijing to raise the value of its currency, which would make Chinese goods more expensive for foreign buyers and possibly hold back exports.

Some Chinese fear that the rise of private enterprise and the demise of state-run industries carries heavy social costs such as unemployment and instability.

Moreover, the fast-growing economy has fuelled the demand for energy. China is the largest oil consumer after the US, and the world's biggest producer and consumer of coal. It spends billions of dollars in pursuit of foreign energy supplies. There has been a massive investment in hydro-power, including the $25bn Three Gorges Dam project.

Background

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, creation of a diversified banking system, development of stock markets, rapid growth of the private sector, 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 it considers important to "economic security," explicitly looking to foster globally competitive national champions. After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of there nimbi 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. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2010 stood as the second-largest economy in the world after the US, having surpassed Japan in 2001. The dollar values of China's agricultural and industrial output each exceed those of the US; China is second to the US in the value of services it produces. Still, per capita income is below the world average. The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic demand; (b) sustaining adequate job growth for tens of millions of migrants and new entrants to the work force; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and approximately 200 million rural laborers and their dependents have relocated to urban areas to find work. One consequence of the "one child" policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the north - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development. In 2009, the global economic downturn reduced foreign demand for Chinese exports for the first time in many years, but China rebounded quickly, outperforming all other major economies in 2010 with GDP growth around 10%. The economy appears set to remain on a strong growth trajectory in 2011, lending credibility to the stimulus policies the regime rolled out during the global financial crisis. The government vowed, in the 12th Five-Year Plan adopted in March 2011, to continue reforming the economy and emphasize the need to increase domestic consumption in order to make the economy less dependent on exports for GDP growth in the future. However, China likely will make only marginal progress toward these re-balancing goals in 2011. Two economic problems China currently faces are inflation - which, late in 2010, surpassed the government's target of 3% - and local government debt, which swelled as a result of stimulus policies, and is largely off-the-books and potentially low-quality.

World ranking

Ranking for Financial Development

Ranking of FOREX Exchange

People Republic Of China Financial System


China's financial system is highly regulated and has recently begun to expand rapidly as monetary policy becomes integral to its overall economic policy. As a result, banks are becoming more important to China's economy by providing increasingly more finance to enterprises for investment, seeking deposits from the public to mop up excess liquidity, and lending money to the government.
As part of US$586 billion economic stimulus package of November 2008, the government plans to remove loan quotas and ceilings for all lenders, and increase bank credit for priority projects, including rural areas, small businesses, technology companies, iron and cement companies.


Banking System


CITIC) was previously a financial organization that smoothed the inflow of foreign funds, but is now a full bank, allowing to compete for foreign investment funds with the Bank of China. The China Construction Bank lends funds for capital construction projects from the state budget, and finally the Agricultural Bank of China functions as a lending and deposit taking institution for the agricultural sector.
The Major Banking Institution in China
• People's Bank of China 
• Bank of China 
• China Development Bank 
• China Construction Bank
• Agricultural Bank of China
• China's central bank


1. People’s Bank of China


The People's Bank of China (PBC or PBOC) is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China. The People’s Bank of China has the most financial assets of any single public finance institution ever.
The top management of the PBC is composed of the governor and a certain number of deputy governors. The governor of the PBC is appointed into or removed from office by the President of the People's Republic of China. The candidate for the governor of the PBC is nominated by the Premier of the State Council and approved by the National People's Congress.


                                              Controlling Bodies


Ministry of Finance


The Ministry of Finance of the People's Republic of China is the national executive agency of the Central People's Government which administers macroeconomic policies and the national annual budget. It also handles fiscal policy, economic regulations and government expenditure for the state.
The ministry also records and publishes annual macroeconomic data on China's economy. This includes information such as previous economic growth rates in China, central government debt and borrowing and many other indicators regarding the Chinese economy.
The Ministry of Finance's remit is smaller than its counterparts in many other states. Macroeconomic management is primarily handled by the National Development and Reform Commission (NDRC). State-owned industries are the responsibility of the State-owned Assets Supervision and Administration Commission, and there are separate regulators for banking, insurance and securities. It also does not handle regulation of the money markets or interest rates. These, together with other aspects of monetary policy, are governed by the People's Bank of China (PBC), China's central bank. The Ministry, NDRC and PBC are equal in status, with their political heads all sitting on the State Council.

Latest Economy Data of People Republic of China
GDP (purchasing power parity): $10.09 trillion (2010 est.)
country comparison to the world: 3
$9.144 trillion (2009 est.)
$8.374 trillion (2008 est.)
note: data are in 2010 US dollars


GDP (official exchange rate):  $5.878 trillion


note: because China's exchange rate is determine by fiat, rather than by market forces, the official exchange rate measure of GDP is not an accurate measure of China's output; GDP at the official exchange rate substantially understates the actual level of China's output vis-a-vis the rest of the world; in China's situation, GDP at purchasing power parity provides the best measure for comparing output across countries (2010 est.)


GDP - real growth rate: 10.3% (2010 est.); country comparison to the world: 6
9.2% (2009 est.)
9.6% (2008 est.)
GDP - per capita (PPP): $7,600 (2010 est.)
country comparison to the world: 125
$6,900 (2009 est.)
$6,400 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:

1.   Agriculture: 10.2%
2.   Industry: 46.9%
3.    Services: 43% (2010 est.)

Labor force: 815.3 million (2010 est.)
country comparison to the world: 1
Labor force - by occupation:

1. Agriculture: 38.1%
2. Industry: 27.8%
3. Services: 34.1% (2008 est.)

Unemployment rate:  4.3% (September 2009 est.)
country comparison to the world: 39
4.2% (December 2008 est.)
note: official data for urban areas only; including migrants may boost total unemployment to 9%; substantial unemployment and underemployment in rural areas




note: 21.5 million rural population live below the official "absolute poverty" line (approximately $90 per year); an additional 35.5 million rural population live above that level but below the official "low income" line (approximately $125 per year) (2007)
Household income or consumption by percentage share:

1. lowest 10%: 3.5%
2. highest 10%: 15%

note: data are for urban households only (2008)
Distribution of family income - Gini index: 41.5 (2007)
country comparison to the world: 52
40 (2001)
Investment (gross fixed): 46.2% of GDP (2010 est.)
country comparison to the world: 1
Budget: revenues: $1.227 trillion
expenditures: $1.35 trillion (2010 est.)
Taxes and other revenues: 20.9% of GDP (2010 est.)
country comparison to the world: 148
Budget surplus (+) or deficit (-): -2.1% of GDP (2010 est.)
country comparison to the world: 79
Public debt: 18.9% of GDP (2010 est.)
country comparison to the world: 112
18.8% of GDP (2009 est.) 
Inflation rate (consumer prices): 3.2% (2010 est.)
country comparison to the world: 106 ;-0.7% (2009 est.)


figures:


NOTE: The Indian Inflation rate(Consumer prices) are Shockingly four times higher than the Chinese Counter parts the latest Indian Figures are 
12% (2010 est.) ; 10.9% (2009 est.)
The Figure Below explains the Growth rate difference in between India and China. The Red line represents the India Growth Profile where as Blue graph indicates PRC GDP growth Profile.

I found this in one Blog And I think this represents very correct picture of  Growth Profile of INDIA & PR CHINA

Agriculture - products:
world leader in gross value of agricultural output; rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton, oilseed; pork; fish


Industries:
world leader in gross value of industrial output; mining and ore processing, iron, steel, aluminum, 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, and aircraft; telecommunications equipment, commercial space launch vehicles, satellites.


Industrial production growth rate: 15.7% (2010 est.); country comparison to the world: 9

World Ranking in Energy/Petroleum  Production

Electricity - production: 3.446 trillion kWh (2009 est.)

country comparison to the world: 2

Electricity - consumption: 3.438 trillion kWh (2008 est.)

country comparison to the world: 2

Oil - production: 4.273 million bbl/day (2010 est.)

country comparison to the world: 4

Oil - consumption:  9.189 million bbl/day (2010 est.)

country comparison to the world: 3

Oil - exports:  480,600 bbl/day (2009 est.)

country comparison to the world: 30

Oil - imports: 4.753 million bbl/day (2009 est.)

country comparison to the world: 3

Oil - proved reserves: 20.35 billion bbl (1 January 2011 est.)

country comparison to the world: 14

Natural gas - production:  94.41 billion cu m (2010 est.)

country comparison to the world: 8

Natural gas - consumption: 106.7 billion cu m (2010 est.)

country comparison to the world: 5

Natural gas - exports: 4.02 billion cu m (2010 est.)

country comparison to the world: 29

Natural gas - imports: 16.33 billion cu m (2010 est.)

country comparison to the world: 17

Natural gas - proved reserves: 3.03 trillion cu m (1 January 2011 est.)

country comparison to the world: 13

Current account balance:  $305.4 billion (2010 est.)country comparison to the world: 1; $297.1 billion (2009 est.)

Exports: $1.581 trillion (2010 est.)

country comparison to the world: 1

$1.204 trillion (2009 est.)

Exports - commodities:  electrical and other machinery, including data processing equipment, apparel, textiles, iron and steel, optical and medical equipment

Exports - partners:  US 18%, Hong Kong 13.8%, Japan 7.6%, South Korea 4.4%, Germany 4.3% (2010)

Imports: $1.327 trillion (2010 est.)

country comparison to the world: 3

$954.3 billion (2009 est.)

Imports - commodities: electrical and other machinery, oil and mineral fuels, optical and medical equipment, metal ores, plastics, organic chemicals

Imports - partners:  Japan 12.6%, South Korea 9.9%, US 7.3%, Germany 5.3%, Australia 4.3% (2010)

Reserves of foreign exchange and gold:  $2.876 trillion (31 December 2010 est.)

country comparison to the world: 1

$2.426 trillion (31 December 2009 est.)

major exporter of manufactures

China's Ranking of Commercial Service Export

  Conclusion:

People republic of China Annual Growth Profile Till 2011

China Persistent economical development and prolong industrial growth is due to consistent change in the Chinese Foreign and Financial Policies during the last Five decades China has evolved in Financial policies in such a way so that the whole country can work as self sustain economy. Recently china has emerged as a world’s number 1 Exporter of manufactured goods taking over Germany in fourth quarter of 2011. 

If we take a closer look over the Chinese policy it can be easily identified that framing of the financial policies was started way back in 1975 in the first economic reforms when china opened its market for the foreign supplier and buyers, the same reforms in 1975 are responsible for today growth and Lead over India of Chinese Economy. Indian economic reforms where more complex and implemented in year 1995 almost 20 year behind China.