Growth headwinds and complex geopolitics
B1
LOW RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in January 2024.
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GDP | USD 17963.2bn (World ranking 2, World Bank 2022) |
Population | 1,412mn (World ranking 2, World Bank 2022) |
Form of state |
Communist party-led state |
Head of state |
Xi Jinping (General Secretary of the Communist Party) |
Next elections | 2027, Legislative |
Strengths & Weaknesses
![Strenghts](/content/onemarketing/aztrade/allianz-trade_com/en_CA/resources/country-reports/China/_jcr_content/root/parsys/wrapper_copy/wrapper/multi_column_grid_co/grid-0-par/wrapper_copy_copy/wrapper/image.img.82.3360.png/1720687529774/plus.png)
- Large domestic market
- Improvement in macro-prudential management
- External position and fiscal position (to lesser extent) are relatively solid
- Key position in global value chains
- New growth opportunities as the country moves up the global value chain, and the services sector develops
![Weaknesses](/content/onemarketing/aztrade/allianz-trade_com/en_CA/resources/country-reports/China/_jcr_content/root/parsys/wrapper_copy/wrapper/multi_column_grid_co/grid-1-par/wrapper_copy/wrapper/image.img.82.3360.png/1720687542983/minus.png)
- High corporate debt, rising household debt
- Strong involvement of the public sector in the economy, with occasional policy-driven disruptions
- Continued geopolitical tensions with key countries in the region and the US
- Competitiveness erosion for traditional (lower value-added) manufacturing sectors
- Aging population
Economic Overview
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
United States
16.2%
![]() |
1 |
![]() |
Hong Kong
8.3%
![]() |
2 |
![]() |
Japan
4.8%
![]() |
3 |
![]() |
South Korea
4.5%
![]() |
4 |
![]() |
Vietnam
4.1%
![]() |
5 |
![]() |
Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Electrical machinery, apparatus and appliances, n.e.s.
15.6%
|
1 |
21.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Office machines and automatic data processing machines
9.9%
|
2 |
11.0%
Petroleum, petroleum products and related materials
|
Telecommunication and sound recording apparatus
8.6%
|
3 |
10.9%
Metalliferous ores and metal scrap
|
Miscellaneous manufactured articles, n.e.s.
7.5%
|
4 |
5.1%
Office machines and automatic data processing machines
|
Articles of apparel & clothing accessories
5.2%
|
5 |
3.2%
Non-ferrous metals
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
United States
16.2%
![]() |
1 |
![]() |
Hong Kong
8.3%
![]() |
2 |
![]() |
Japan
4.8%
![]() |
3 |
![]() |
South Korea
4.5%
![]() |
4 |
![]() |
Vietnam
4.1%
![]() |
5 |
![]() |
Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Electrical machinery, apparatus and appliances, n.e.s.
15.6%
|
1 |
21.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Office machines and automatic data processing machines
9.9%
|
2 |
11.0%
Petroleum, petroleum products and related materials
|
Telecommunication and sound recording apparatus
8.6%
|
3 |
10.9%
Metalliferous ores and metal scrap
|
Miscellaneous manufactured articles, n.e.s.
7.5%
|
4 |
5.1%
Office machines and automatic data processing machines
|
Articles of apparel & clothing accessories
5.2%
|
5 |
3.2%
Non-ferrous metals
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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