With the opening of special economic zones since 1978, China has transformed its sluggish planned economy system into a lively socialist market economy system. China has maintained strong and steady growth over recent years. With its gross domestic product (GDP) growing at an annual rate of 9.9% in 2005 to about US$2.26 trillion in 2005, China has become the sixth-largest economy in the world and is expected to rank second by 2030. Meanwhile, China has successfully maintained a low inflation …
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