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      42.7% of GDP (2007 est.)

      Budget:

      revenues: $674.3 billion expenditures: $651.6 billion (2007 est.)

      Fiscal year:

      calendar year

      Public debt:

      18.4% of GDP (2007 est.)

      Inflation rate (consumer prices):

      4.8% (2007 est.)

      Central bank discount rate:

      3.33% (31 December 2007)

      Commercial bank prime lending rate:

      7.47% (31 December 2007)

      Stock of money:

      $2.09 trillion (31 December 2007)

      Stock of quasi money:

      $3.437 trillion (31 December 2007)

      Stock of domestic credit:

      $4.653 trillion (31 December 2007)

      Agriculture - products:

      rice, wheat, potatoes, corn, peanuts, tea, millet, barley, apples, cotton, oilseed; pork; fish

      Industries:

      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:

      13.4% (2007 est.)

      Electricity - production:

      3.256 trillion kWh (2007)

      Electricity - consumption:

      2.859 trillion kWh (2006)

      Electricity - exports:

      14.04 billion kWh (2007 est.)

      Electricity - imports:

      4.771 billion kWh (2007 est.)

      Electricity - production by source:

      fossil fuel: 80.2% hydro: 18.5% nuclear: 1.2% other: 0.1% (2001)

      Oil - production:

      3.725 million bbl/day (2008 est.)

      Oil - consumption:

      7.578 million bbl/day (2007 est.)

      Oil - exports:

      79,060 bbl/day (2007)

      Oil - imports:

      3.19 million bbl/day (2007)

      Oil - proved reserves:

      16 billion bbl (1 January 2008 est.)

      Natural gas - production:

      69.27 billion cu m (2007 est.)

      Natural gas - consumption:

      70.51 billion cu m (2007 est.)

      Natural gas - exports:

      2.69 billion cu m (2007 est.)

      Natural gas - imports:

      3.92 billion cu m (2007 est.)

      Natural gas - proved reserves:

      2.265 trillion cu m (1 January 2008 est.)

      Current account balance:

      $371.8 billion (2007 est.)

      Exports:

      $1.22 trillion f.o.b. (2007 est.)

      Exports - commodities:

      machinery, electrical products, data processing equipment, apparel, textile, steel, mobile phones

      Exports - partners:

      US 19.1%, Hong Kong 15.1%, Japan 8.4%, South Korea 4.6%, Germany 4% (2007)

      Imports:

      $904.6 billion f.o.b. (2007 est.)

      Imports - commodities:

      machinery and equipment, oil and mineral fuels, plastics, LED screens, data processing equipment, optical and medical equipment, organic chemicals, steel, copper

      Imports - partners:

      Japan 14%, South Korea 10.9%, Taiwan 10.5%, US 7.3%, Germany 4.7% (2007)

      Economic aid - recipient:

      $1.641 billion (FY07)

      Reserves of foreign exchange and gold:

      $1.534 trillion (31 December 2007 est.)

      Debt - external:

      $363 billion (31 December 2007 est.)

      Stock of direct foreign investment - at home:

      $758.9 billion (2007 est.)

      Stock of direct foreign investment - abroad:

      $93.75 billion ( 2007 est.)

      Market value of publicly traded shares:

      $4.477 trillion (31 December 2007 est.)

      Currency (code):

      Renminbi (RMB); note - also referred to by the unit yuan (CNY)

      Currency code:

      CNY

      Exchange rates:

      Renminbi yuan (RMB) per US dollar - 7.61 (2007), 7.97 (2006), 8.1943 (2005), 8.2768 (2004), 8.277 (2003)

      Communications

       China

      Telephones - main lines in use:

      365.4 million (2007)

      Telephones - mobile cellular:

      547.286 million (2007)

      Telephone system:

      general assessment: domestic and international services are increasingly available for private use; unevenly distributed domestic system serves principal cities, industrial centers, and many towns; nonetheless, by the end of 2006, more than 95% of China's villages had been connected to the telephone network; China continues to develop its telecommunications infrastructure, and is partnering with foreign providers to expand its global reach; 3 of China's 6 major telecommunications operators are part of an international consortium which, in December 2006, signed an agreement with Verizon Business to build the first next-generation fiber optic submarine cable system directly linking the US mainland and China domestic: interprovincial fiber-optic trunk lines and cellular telephone systems have been installed; mobile-cellular subscribership is increasing rapidly; the number of Internet users reached 253 million in 2008; a domestic satellite system with 55 earth stations is in place international: country code - 86; a number of submarine cables provide connectivity to Asia, the Middle East, Europe, and the US; satellite earth stations - 7 (5 Intelsat - 4 Pacific Ocean and 1 Indian Ocean; 1 Intersputnik - Indian Ocean region; and 1 Inmarsat - Pacific and Indian Ocean regions) (2007)

      Radio broadcast stations:

      AM 369, FM 259, shortwave 45 (1998)

      Radios:

      417 million (1997)

      Television broadcast stations:

      3,240 (of which 209 are operated by China Central Television, 31 are provincial TV stations, and nearly 3,000 are local city stations) (1997)

      Televisions:

      400

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