China 2018 GDP reaches $13.61 trillion, GDP per capital reaches $9768.71

[Edison Chen]

According to Statistics Bureau, China 2018 GDP reaches ¥90.0309 trillion, so by the average exchange rate of the whole year of 2018, it is $13.61 trillion and GDP per capital reaches $9768.71. China total population is 1.393 billion.

 

[Persian Gulf 1906]

is that nominal or PPP?

 

[zectech]

is that nominal or PPP?

should be nominal because PPP is over 20T USD.

 

[Edison Chen]

is that nominal or PPP?

Nominal

 

[CHN Bamboo]

is that nominal or PPP?

It is impossible for Chinese to use PPP

 

[Adam WANG SHANGHAI MEGA]

It is impossible for Chinese to use PPP

PPP is what India will do to top the list!

 

[Daniel808]

is that nominal or PPP?

Nominal.

In PPP, China already number 1. Leaving others Far behind

That's why Chinese people love to use Nominal statistics. Because with nominal statistics, that can always motivate them to work harder and harder to achieve better result in the future


PPP only used by lazy people who wants boasting that their country is a Supa powa and not poor

 

[Adam WANG SHANGHAI MEGA]

Nominal.

In PPP, China already number 1. Leaving others Far behind

That's why Chinese people love to use Nominal statistics. Because with nominal statistics, that can always motivate them to work harder and harder to achieve better result in the future


PPP only used by lazy people who wants boasting that their country is a Supa powa and not poor

To be frank, China is still 40 years behind the United States.

 

[Han Patriot]

To be frank, China is still 40 years behind the United States.

Yes, our culture is to be humble and work hard. We don't like to boast, we might be big in terms of PEE PEE PEE. But it has no meaning, we need to reduce population, restore our environment and provide a better living standards for our people. I guess another 40-50 years to reach where US is today.

 

[alee92nawaz]

should be nominal because PPP is over 20T USD.

In layman's terms can you explain the difference between ppp or nominal gdp

 

[ZeEa5KPul]

In layman's terms can you explain the difference between ppp or nominal gdp

Nominal is simply a conversion between the national currency and the measurement currency (usually USD) at current market exchange rates. PPP uses a conversion rate based on a representative basket of goods and services; i.e., how much national currency does it take to purchase this basket locally vs. how much USD it would take to purchase the same basket in the US.

Which is better depends on which question you're trying to answer and which country you're considering. In questions of international trade, nominal GDP is almost always the better measure. When trying to answer questions of standard of living or industrial capability, PPP GDP is better provided the country is technologically competent and meets certain criteria of self-sufficiency, but it's less clear-cut than in the international trade case.

 

[alee92nawaz]

Thanks

Nominal is simply a conversion between the national currency and the measurement currency (usually USD) at current market exchange rates. PPP uses a conversion rate based on a representative basket of goods and services; i.e., how much national currency does it take to purchase this basket locally vs. how much USD it would take to purchase the same basket in the US.

Which is better depends on which question you're trying to answer and which country you're considering. In questions of international trade, nominal GDP is almost always the better measure. When trying to answer questions of standard of living or industrial capability, PPP GDP is better provided the country is technologically competent and meets certain criteria of self-sufficiency, but it's less clear-cut than in the international trade case.

 

[TaiShang]

Economy 22:32, 20-Jan-2019

Chinese provincial regions unveil GDP growth targets for 2019

CGTN

China's 13 out of 34 provincial governments have unveiled their GDP growth targets for 2019.

In comparison with targets for 2018, most provincial regions kept the targeted growth rate unchanged or slightly lowered for 2019.

Northeast China's Heilongjiang Province has set a target of above five percent GDP growth this year, compared to six percent set for 2018.

Northwest China's Xinjiang Province reduced its growth target to around 5.5 percent in 2019 from seven percent in 2018.

Five local governments set a growth range instead of a certain figure for 2019, including Beijing, east China's Fujian, Anhui, and central China's Hubei, Henan.

Xu Hongcai, deputy chief economist of the China Center for International Economic Exchanges, said that setting a practical and reasonable target, such as in a range, will be positive for growth restructuring with good quality, and the upper limit could prevent over stimulus, China News Service reported on Saturday.

https://news.cgtn.com/news/3d3d414f3451544d32457a6333566d54/index.html