Go to content

China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 174

China Business Intelligence No. 174

Samsung Economic Research Institute Beijing Office

Sept. 15, 2010

Download China Business Intelligence No. 174 PDF email Print


I. Economy

China has overtaken Japan as the world's second-largest economic power. In August, Japan announced that its Q2 GDP fell short of China's. While Japan's nominal GDP for the Q2 stood at US$ 1.29 trillion, China posted US$1.38 trillion during the same period. Japan's annual GDP for this year is expected to be smaller than China's. Japan's nominal GDP for the first half of this year is US$ 2.59 trillion, a similar figure to China's US$ 2.53 trillion. With China's annual economic growth projection at 9.8%, China's GDP exceeding Japan's in 2010 is a fait accompli. In terms of purchasing power, China has already unseated Japan to take the world's No.2 spot. The Chinese government, however, responded with indifference, expressing concerns through several state-controlled media outlets. Chinese media sees it as a negligible achievement and stresses that China is still a developing nation on the grounds that China's per capita income - only one tenth of Japan's - is in the world's top 100.

For full text (6 pages), click the PDF icon on top.
Go to list