Dialogue Q4 2021

Page 80

NEWS NATION

China On the 100th anniversary of the formation of the Chinese Communist Party, the question on everyone’s minds is: what next for China?

Fact file Land area 3,600,947 sq mi (9,326,410 sq km) Population 1,397,897,720 Capital Beijing (pop. 20,896,820) GDP US$14.723tn (2020) Economic record 2.3% (2020) Economic forecast (OECD) + 8.5% (2021) + 5.8% (2022) GNI per capita $17,200 Currency Renminbi or yuan (CNY) 1 CNY = US$0.15 (July 2021) Unemployment 5% Life expectancy Women 79 Men 74 Official language Mandarin

THE CHINESE REVOLUTION

10

Years of double-digit economic growth at the turn of the 21st century

133%

Rise of new home sales in China in early 2021, prompting concerns about debt

1911

Final year of China’s last Imperial dynasty, the Qing dynasty, and the establishment of the People’s Republic of China

1921

Year the Chinese Communist Party was formed 80

2.45%

Share of global foreign exchange reserves held in yuan