Since China's political transformation in 1978, the government has introduced market-oriented reforms and decentralized economic decision-making allowing for a vast increase in Chinese industry output. The result has been an onset of economic growth lead by increased foreign investment, and fueled by a rise in consumer spending.
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Since the 18th file has been issued, there have been a number of other developments to foster the economic and industrial growth of the country. Among such as their accession to the WTO, an emerging middle class, laws encouraging foreign investment, nation-wide programs to support education and more. Read more about the recent trends and predictions in the following sections:
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With its recent wealth, China has built a sound infrastructure for both foreign and domestic industries, developed laws to promote new businesses and improved educational programs nationwide.
Perhaps the biggest economic incentive to attract software companies to China came in June 2000 when the China State Council issued the "18th File Policy on the Encouragement of Software and Integrated Circuit Industry." This was the first step taken by the Chinese government to launch their national campaign to support and promote the entire IT industry.
English
China In Brief
Formal name: The People's Republic of China (PRC)
Top legislative power: The National People's Congress (NPC) and its Standing Committee. Representing the people and all levels of people's congresses in China, the NPC supervises all state-level institutions. Its powers include electing the President of China.
National flag: Red flag with five stars.
National emblem: Tiananmen gatetower under five stars, encircled by ears of grain and with a gear wheel below.
Land size: China has a landmass of 9,600,000 sq km, making it roughly the same area as the continental United States.
Population: China is the world's most populous country with a population estimated at about 1.30756 billion by the end of 2005.
Population density: The population density is about 135 people per sq km, roughly four times greater than that of the US.
Currency: Renminbi (RMB)/yuan
