Milestones in Chinese Economy

Over the last decades, China's GDP has been growing at an annual rate of 9.5%, the fastest-growing in the world. That growth enables China to leapfrog many countries, becoming the world's sixth largest economy. u In per capita terms, however, China (US$800 per capita) is only 16% of the world's average. u Experts believe China's employment elasticity is 0.1, which means for every 1% increase in the country's GDP, 700,000-1,000,000 new jobs will be created. To alleviate the employment pres…