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China

Chinese Economy

The economy of the People's Republic of China is the third largest in the world, after the United States and Japan with a nominal GDP of $4.91 trillion in 2009. It is the second largest after the U.S. with an economy worth $8.77 trillion when measured in purchasing power parity. China is the world's fastest-growing major economy, with an average annual growth rate of about 10% for the past 30 years. China is the second largest trading nation in the world and the largest exporter and second largest importer of goods. The Chinese economy comprises a 32% contribution from the services sector; approximately 53% is contributed by industry and the remaining 15% from forestry and agriculture. Primary exports made in China include toys, clothes, machinery and equipment.

Exports from California to China

Value of exports to China from California is the highest among the 50 states. California exports to Mainland China totaled $9.7 billion in 2009, a slight decrease from the previous year, making it the state's fourth largest trading partner. California exports to Hong Kong increased marginally last year, to total $5.8 billion. California exports to Taiwan decreased to over $4.1 billion. Computers and electronic products accounted for 30 percent of exports to China.

Source: TradeStat Express

 

Exports from China to California

China is the top export to California in 2009. The value of all imports from China to California reaches US$89.3 billion, which is 33% of California imports, down 9.5% from 2008.

 

Relationship between China and San Francisco

  • At least 60 Chinese companies make investment in Bay Area so far, in the fields of travel industry, hotel, Hi-Technology and clean technology, creating nearly 600 job opportunities.
  • San Francisco / Shanghai Sister City Relationship started in 1980. More than 200 cultural, business and governmental exchanges between San Francisco and Shanghai have been held by the San Francisco-Shanghai Sister City committees.
  • The 2006 - 2008 American Community Survey estimated that Asians of any nationality make up 31.3% of the population with those of Chinese birth or descent constituting the largest single ethnic group in San Francisco at about one-fifth of the population.
  • San Francisco' Chinatown is the oldest Chinatown in North America and one of "the largest Chinese communities outside Asia". Since its establishment in the 1840s, it has been highly important and influential in the history and culture of ethnic Chinese immigrants to the United States and North America.