Chinas economy has enjoyed 30 years of explosive growth making it the worlds largest its success was based on a mixed economy that incorporated limited capitalism within a command economy the chines governments spending has been a significant driver of its growth. Gdp annual growth rate in china averaged 952 percent from 1989 until 2019 reaching an all time high of 1540 percent in the first quarter of 1993 and a record low of 380 percent in the fourth quarter of 1990 in china gross domestic product is divided by three sectors primary secondary and tertiary. The chinese economy grew by 14 percent quarter on quarter in the three months to march 2019 compared to a 15 percent expansion in the previous period and in line with market estimates it was the weakest quarterly growth rate since the first quarter of 2016 gdp growth rate in china averaged 178 percent from 2010 until 2019 reaching an all time high of 240 percent in the first quarter of . The socialist market economy of the peoples republic of china is the worlds second largest economy by nominal gdp and the worlds largest economy by purchasing power parity until 2015 china was the worlds fastest growing major economy with growth rates averaging 6 over 30 years due to historical and political facts of chinas developing economy chinas public sector accounts for a
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