The People's Republic of China (2024)

The People's Republic of China (6)

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  • Countries & Regions
  • China, Mongolia & Taiwan
  • The People's Republic of China
  • U.S.-China Trade Facts

    Overview

    • In 2020, China GDP was an estimated $14.9 trillion (current market exchange rates); real GDP was up by an estimated 1.9 percent; and the population was 1.4 billion. (Source: IMF)
    • U.S. goods and services trade with China totaled an estimated $615.2 billion in 2020. Exports were $164.9 billion; imports were $450.4 billion. The U.S. goods and services trade deficit with China was $285.5 billion in 2020.
    • China is currently our largest goods trading partner with $559.2 billion in total (two way) goods trade during 2020. Goods exports totaled $124.5 billion; goods imports totaled $434.7 billion. The U.S. goods trade deficit with China was $310.3 billion in 2020.
    • Trade in services with China (exports and imports) totaled an estimated $56.0 billion in 2020. Services exports were $40.4 billion; services imports were $15.6 billion. The U.S. services trade surplus with China was $24.8 billion in 2020.
    • According to the Department of Commerce, U.S. exports of goods and services to China supported an estimated 758,000 jobs in 2019 (latest data available) (475,000 supported by goods exports and 283,000 supported by services exports).

    Exports

    • China was the United States' 3rd largest goods export market in 2020.
    • U.S. goods exports to China in 2020 were $124.5 billion, up 16.9 percent ($18.0 billion) from 2019 and up 35 percent from 2010. U.S. exports to China are up 549.0 percent from 2001 (pre-WTO accession). U.S. exports to China account for 8.7 percent of overall U.S. exports in 2020.
    • The top export categories (2-digit HS) in 2020 were: electrical machinery ($17 billion), oilseeds and oleaginous fruits (soybeans) ($15 billion), machinery ($14 billion), mineral fuels ($10.0 billion), and optical and medical instruments ($9.5 billion).
    • U.S. total exports of agricultural products to China totaled $26.5 billion in 2020, our largest agricultural export market. Leading domestic export categories include: soybeans ($14 billion), pork and pork products ($2.3 billion), cotton ($1.8 billion), corn ($1.2 billion), and coarse grains (excluding corn) ($1.1 billion).
    • U.S. exports of services to China were an estimated $40.4 billion in 2020, 31.9 percent ($19 billion) less than 2019, but 97 percent greater than 2010 levels. It was up roughly 617.7 percent from 2001 (pre-WTO accession). Leading services exports from the U.S. to China were in the travel, intellectual property (licenses for the use of research and development), and financial services sectors.

    Imports

    • China was the United States' largest supplier of goods imports in 2020.
    • U.S. goods imports from China totaled $434.7 billion in 2020, down 3.6 percent ($16.0 billion) from 2019, but up 19 percent from 2010. U.S. imports from are up 325 percent from 2001 (pre-WTO accession). U.S. imports from China account for 18.6 percent of overall U.S. imports in 2020.
    • The top import categories (2-digit HS) in 2020 were: electrical machinery ($111 billion), machinery ($97 billion), toys and sports equipment ($26 billion), furniture and bedding ($23 billion), and miscellaneous textile articles ($21 billion).
    • U.S. total imports of agricultural products from China totaled $3.8 billion in 2020, our 7th largest supplier of agricultural imports. Leading categories include: processed fruit and vegetables ($896 million), food preparations ($327 million), dog and cat food ($202 million), fruit and vegetable juices ($198 million), and other livestock products ($193 million).
    • U.S. imports of services from China were an estimated $15.6 billion in 2020, 21.2 percent ($4.2 billion) less than 2019, but 36 percent greater than 2010 levels. It was up roughly 370.9 percent from 2001 (pre-WTO accession). Leading services imports from China to the U.S. were in the transportation, research and development, and professional and management services sectors.

    Trade Balance

    • The U.S. goods trade deficit with China was $310.3 billion in 2020, a 9.9 percent decrease ($34.0 billion) over 2019.
    • The United States has a services trade surplus of an estimated $24.8 billion with China in 2020, down 37.3 percent from 2019.

    Investment

    • U.S. foreign direct investment (FDI) in China (stock) was $123.9 billion in 2020, a 9.4 percent increase from 2019. U.S. direct investment in China is led by manufacturing, wholesale trade, and finance and insurance.
    • China's FDI in the United States (stock) was $38.0 billion in 2020, down 4.2 percent from 2019. China's reported direct investment in the U.S. is led by wholesale trade, manufacturing, and information services.
    • Sales of services in China by majority U.S.-owned affiliates were $59.6 billion in 2018 (latest data available), while sales of services in the United States by majority China-owned firms were $20.6 billion.
      The People's Republic of China (2024)

      FAQs

      What is the People's Republic of China? ›

      China (Chinese: 中国; pinyin: Zhōngguó), officially the People's Republic of China (PRC), is a country in East Asia. It is the world's second most populous country, with a population exceeding 1.4 billion.

      Why is China now called the People's Republic of China? ›

      The history of the People's Republic of China details the history of mainland China since 1 October 1949, when CCP chairman Mao Zedong proclaimed the People's Republic of China (PRC) from atop Tiananmen, after a near complete victory (1949) by the Chinese Communist Party (CCP) in the Chinese Civil War.

      Is there a difference between China and the People's Republic of China? ›

      The position of the PRC and the Pan-Blue Coalition of the ROC remains that there is only one sovereign entity of China, and that each of them represents the legitimate government of all of China—including both mainland China and Taiwan—and the other is illegitimate.

      What happened to the People's Republic of China? ›

      The communist takeover of mainland China in 1949, after the Chinese Civil War, left the ruling Kuomintang with control over only Taiwan, Penghu, Kinmen, Matsu, and other minor islands. With the loss of the mainland, the ROC government retreated to Taiwan and the KMT declared Taipei the provisional capital.

      Is People's Republic of China China or Taiwan? ›

      Taiwan Province is a nominal administrative division of the People's Republic of China (PRC). The PRC constitution defines Taiwan as part of its territories despite the fact that the PRC has never controlled any part of Taiwan since the PRC's establishment in 1949.

      How many countries recognize the People's Republic of China? ›

      China, officially the People's Republic of China (PRC), has full diplomatic relations with 179 out of the other 193 United Nations member states, Cook Islands, Niue and the State of Palestine.

      When did China stop being the People's Republic of China? ›

      The “fall” of mainland China to communism in 1949 led the United States to suspend diplomatic ties with the PRC for decades.

      Does the US recognize Taiwan? ›

      As a leading democracy and a technological powerhouse, Taiwan is a key U.S. partner in the Indo-Pacific. Though the United States does not have diplomatic relations with Taiwan, we have a robust unofficial relationship.

      When did Taiwan separate from China? ›

      The ROC government relocated to Taiwan in 1949 while fighting a civil war with the Chinese Communist Party. Since then, the ROC has continued to exercise effective jurisdiction over the main island of Taiwan and a number of outlying islands, leaving Taiwan and China each under the rule of a different government.

      Does the US recognize the People's Republic of China? ›

      On January 1, 1979, the United States recognized the PRC and established diplomatic relations with it as the sole legitimate government of China.

      Is the People's Republic of China a socialist country? ›

      Article 5 The People's Republic of China governs the country according to law and makes it a socialist country under rule of law. The State upholds the uniformity and dignity of the socialist legal system.

      Which country does not recognize China? ›

      Bhutan is the only UN member state that has never explicitly recognised either the PRC or the ROC. The Republic of China considers itself to be the sole legitimate government of China (including Taiwan), and therefore claims exclusive sovereignty over all territory controlled by the PRC.

      Does China still have a one child policy? ›

      When did the one-child policy end? The end of China's one-child policy was announced in late 2015, and it formally ended in 2016. Beginning in 2016, the Chinese government allowed all families to have two children, and in 2021 all married couples were permitted to have as many as three children.

      Is Taiwan its own independent country? ›

      Taiwan as a de facto separate self-governing entity. Become part of China as a province or special administrative region of the PRC under the one country, two systems framework (like Hong Kong and Macau).

      How many countries recognize Taiwan as a country? ›

      Taiwan maintains full diplomatic relations with 13 sovereign states, 12 of which are member states of the United Nations, whereas the remaining sovereign state is the Holy See (Vatican City), which is a United Nations General Assembly observer state.

      Does Taiwan want to be a part of China? ›

      In short, Taiwan people overwhelmingly reject the PRC state, which they view as hostile and as a malign influence on Taiwan — but they do not reject Chinese culture in the same way. Whatever Taiwan people's cultural identity may be, they believe they are citizens of a state that is not the PRC.

      Does China think Taiwan is independent? ›

      The governments of the People's Republic of China (PRC) and the Republic of China (ROC) oppose Taiwanese independence since they believe that Taiwan and mainland China comprise two portions of a single country's territory.

      Is China a socialist or communist country? ›

      The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises.

      Does the US recognize Taiwan as part of China? ›

      Joint Communiqué switched diplomatic recognition from Taipei to Beijing. In the Joint Communiqué, the United States recognized the Government of the People's Republic of China as the sole legal government of China, acknowledging the Chinese position that there is but one China and Taiwan is part of China.

      What countries don't recognize Taiwan? ›

      Most recently, Nicaragua rescinded its recognition of Taiwan in December 2021. As a result, only Vatican City and 13 of the 193 UN countries recognize Taiwan as of 2022.

      Does Mexico recognize Taiwan? ›

      Since the adoption of UN Resolution 2758, Mexico has maintained official diplomatic relations with mainland China and unofficial diplomatic relations with Taiwan since 1972.

      What is the difference between made in China and made in PRC? ›

      Made in PRC means the product was manufactured in China. PRC is simply the abbreviation used for the People's Republic of China. Though it can be confusing for some, companies use this in their labels to sell their products better. There's no difference between Made in China and PRC.

      What does China call the Korean War? ›

      The term "Hán (Korean) War" (Chinese: 韓戰; pinyin: Hán Zhàn) is most commonly used in Taiwan (Republic of China), Hong Kong and Macau.

      Who was the last to rule China? ›

      While the Qing empire was relatively stable, the 19th and 20th centuries brought China into increasing conflict with Western powers, and in 1911 C.E., the last of the Chinese emperors, Puyi, abdicated in favor of a republican government.

      Why does the US want to defend Taiwan? ›

      Taiwan, is after all an island a hundred miles off the coast of China. And America's military strong suits are in the areas of aerospace, maritime, and high technology—exactly the kinds of things we need we would need to defeat a cross-Strait invasion. These are also areas of strength for Japan, Taiwan, and Australia.

      Which countries does the US not recognize? ›

      The United States has formal diplomatic relations with most nations. This includes all United Nations members and observer states other than Bhutan, Iran, North Korea and Syria, and the UN observer State of Palestine, the last of which the U.S. does not recognize.

      Are there US troops in Taiwan? ›

      WASHINGTON—The U.S. is markedly increasing the number of troops deployed to Taiwan, more than quadrupling the current number to bolster a training program for the island's military amid a rising threat from China.

      Why does China want to take over Taiwan? ›

      It is a vast industry, worth almost $100bn (£73bn) in 2021. A Chinese takeover in Taiwan could give Beijing some control over one of the world's most important industries.

      Why did Taiwan leave China? ›

      In December 1949, the Republic of China Armed Forces and the Kuomintang were defeated in the Chinese Civil War, forcing the Government of the Republic of China to relocate to Taiwan.

      Does Taiwan have nuclear weapons? ›

      Currently, there is no evidence of Taiwan possessing any chemical, biological, or nuclear weapons; but nuclear weapons from the United States have been deployed in the past during periods of heightened regional tensions with China, such as during the First Taiwan Strait Crisis.

      How does the U.S. view China? ›

      Some 79% of adults expressed an unfavorable opinion of China in 2020, 76% did so in 2021 and 82% did so in 2022.

      When People's Republic of China became the member of United Nations? ›

      Editorial Note. In October 1971 the People's Republic of China (PRC) replaced the Republic of China (ROC) in the United Nations General Assembly and Security Council.

      Does the U.S. have diplomats in China? ›

      Nicholas Burns is Ambassador of the United States of America to the People's Republic of China (PRC). Nominated by President Biden, he was confirmed by the U.S. Senate in December 2021.

      When did China stop being communist? ›

      The 1931 Japanese invasion of Manchuria began a chain of events that led to the eventual communist overthrow of China in 1949.

      What country is a good example of socialism? ›

      Marxist–Leninist states
      CountrySinceParty
      People's Republic of China1 October 1949Communist Party of China
      Republic of Cuba24 February 1976Communist Party of Cuba
      Lao People's Democratic Republic2 December 1975Lao People's Revolutionary Party
      Socialist Republic of Vietnam2 September 1945Communist Party of Vietnam

      Is China a communist country in 2023? ›

      China is one of the few remaining Communist countries. The Communist Party of China is the founding and sole governing political party of the People's Republic of China. Vietnam, also known as the Socialist Republic of Vietnam, is also one of the four remaining Communist countries.

      Which country is allies with China? ›

      China entered into diplomatic relations with Malaysia, Thailand, the Philippines, Bangladesh and Maldives in Southeast Asia and South Asia, seven countries including Iran, Turkey and Kuwait in West Asia and the Middle East and five countries in South Pacific such as Fiji and Papua New Guinea.

      Which country accept China first? ›

      Pakistan and China enjoy close and friendly relations since the establishment of diplomatic relations in May 1951. Pakistan was one of the first countries that recognized the People's Republic of China.

      Is China a switched on country? ›

      This resource looks at why some countries are switched on or switched off to globalisation. The resource uses the examples of South Korea and The Sahel region for areas switched off to globalisation and China as a country switched on.

      What happens if you have more than 3 kids in China? ›

      Families in China can now have as many children as they like without facing fines or other consequences, the Chinese government said late Tuesday. The move followed China's announcement on May 31 that families could now have three children each.

      What happens if you have twins in China? ›

      What If A Family In China Had Twins Under The One-Child Policy? That's not a problem. While many stress the one child component of the policy, it's better to understand it as a one birth per family rule. In other words, if a woman gives birth to twins or triplets in one birthing, she won't be penalized in any way.

      How many kids can you have in China? ›

      In the mid-1980s, rural parents were allowed to have a second child if the first was a daughter. It also allowed exceptions for some other groups, including ethnic minorities. In 2015, the government removed all remaining one-child limits, establishing a two-child limit.

      Does Japan recognize Taiwan? ›

      After the Japan–PRC Joint Communiqué in 1972, Japan no longer recognizes the Republic of China as the sole official government of China and the official diplomatic relations between the two countries were ceased. However, Japan has maintained non-governmental, working-level relations with Taiwan.

      What percentage of Taiwanese want to join China? ›

      In a biannual update to its surveys on core political attitudes in Taiwan, National Chengchi University's Election Study Center (ESC) found only 1.3 percent of respondents wanted unification with mainland China "as soon as possible," while a similarly low 5.1 percent desired formal Taiwanese independence at the ...

      Why did Japan occupy Taiwan? ›

      Although nearly all the fighting took place in northern China, Japan had important territorial ambitions in southern China. As the war approached its end, the Japanese took steps to ensure that Taiwan would be ceded to Japan under the eventual peace treaty and that they were well placed militarily to occupy the island.

      Does Russia recognize Taiwan? ›

      Russia currently doesn't have diplomatic relations with Taiwan, considering it to be an "inalienable" part of the People's Republic of China.

      Does US recognize Hong Kong? ›

      The United States supports Hong Kong's autonomy by concluding and implementing bilateral agreements; promoting trade and investment; arranging high-level visits; broadening law enforcement cooperation; bolstering educational, academic, and cultural links; and supporting the large community of U.S. citizens and visitors ...

      Who is Taiwan allied with? ›

      The majority are located in Latin America and the Caribbean, including Paraguay, Guatemala and Haiti. Taiwan's other four allies are island nations in Southeast Asia, namely Nauru, Palau, Tuvalu and the Marshall Islands.

      What are the People's Republic of China principles? ›

      The three principles are often translated into and summarized as nationalism, democracy, and the livelihood of the people.

      What is the difference between PRC and ROC? ›

      Today, the ROC is the de facto government of Taiwan, whereas the PRC is the de facto government of Mainland China. However, each government claims to be the legitimate government of all China's de jure. The arguments below are frequently used by proponents and/or opponents of these claims.

      What is the meaning of people's republic? ›

      People's Republic (sometimes called Popular Republic) is a name for a communist, usually Marxist-Leninist country. Currently, the People's Republic of China (PRC) is the only Marxist-Leninist state in the world that uses the title "People's Republic".

      What does the Republic of China claim? ›

      The Republic of China based in Taiwan officially maintains a territorial claim on parts of Bhutan to this day. The territorial claim was maintained by the People's Republic of China after the Chinese Communist Party took control of mainland China in the Chinese Civil War.

      Is the people's Republic of China capitalist? ›

      The CCP maintains that despite the co-existence of private capitalists and entrepreneurs with public and collective enterprise, China is not a capitalist country because the party retains control over the direction of the country, maintaining its course of socialist development.

      What religion is followed in people's Republic of China? ›

      The government recognizes five official religions – Buddhism, Taoism, Islam, Protestantism, and Catholicism.

      How did Taiwan split from China? ›

      The ROC government relocated to Taiwan in 1949 while fighting a civil war with the Chinese Communist Party. Since then, the ROC has continued to exercise effective jurisdiction over the main island of Taiwan and a number of outlying islands, leaving Taiwan and China each under the rule of a different government.

      Are PRC citizens ROC citizens? ›

      Acquisition and loss of nationality

      Legislation granting Republic of China nationality is extremely broad in scope. All people of ethnic Taiwanese and mainland Chinese origin, regardless if they have resided overseas for an extended period of time, are technically ROC nationals.

      When did PRC replace Taiwan in the United Nations? ›

      On October 25, 1971, the United Nations General Assembly adopted Resolution 2758, which “restored” the People's Republic of China to the Chinese seat at the UN and “expelled” the Republic of China (Taiwan).

      Who is the leader of the people's republic? ›

      The current president is Xi Jinping, who took office in March 2013, replacing Hu Jintao. He was re-elected in March 2018 and March 2023.

      Why is it called a people's republic? ›

      Following World War II, developments in Marxist–Leninist theory led to the appearance of people's democracy, a concept which potentially allowed for a route to socialism via multi-class, multi-party democracy. Countries which had reached this intermediate stage were called people's republics.

      Who created the Peoples republic? ›

      On October 1, 1949, Chinese Communist leader Mao Zedong declared the creation of the People's Republic of China (PRC).

      Is the Republic of China a democracy? ›

      After democratization in the 1990s, all political parties became legal and the Republic of China was democratized where free speech and civil rights became gradually relaxed. The Economist Intelligence Unit rated the Republic of China 8th place as a "full democracy" in 2022.

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