The People's Republic of China (2024)

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  • The People's Republic of China
  • China Trade & Investment Summary

    U.S. goods and services trade with China totaled an estimated $758.4 billion in 2022. Exports were $195.5 billion; imports were $562.9 billion. The U.S. goods and services trade deficit with China was $367.4 billion in 2022.

    U.S. goods exports to China in 2022 were $154.0 billion, up 1.7 percent ($2.6 billion) from 2021 and up 39 percent from 2012. U.S. goods imports from China totaled $536.3 billion in 2022, up 6.3 percent ($32.0 billion) from 2021, and up 26 percent from 2012. U.S. exports to China account for 7.5 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with China was $382.3 billion in 2022, a 8.3 percent increase ($29.4 billion) over 2021.

    U.S. exports of services to China were an estimated $41.5 billion in 2022, 5.2 percent ($2.1 billion) more than 2021, and 39 percent greater than 2012 levels. U.S. imports of services from China were an estimated $26.6 billion in 2022, 24.1 percent ($5.2 billion) more than 2021, and 97 percent greater than 2012 levels. Leading services exports from the U.S. to China were in the travel, intellectual property, and financial services sectors. The United States had a services trade surplus of an estimated $14.9 billion with China in 2022, down 17.3 percent from 2021.

    U.S. foreign direct investment (FDI) in China (stock) was $126.1 billion in 2022, a 9.0 percent increase from 2021. 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 $28.7 billion in 2022, down 7.2 percent from 2021. China's direct investment in the U.S. is led by manufacturing, real estate, and depository institutions.

      The People's Republic of China (2024)

      FAQs

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

      Socialist transformation

      Following the Chinese Civil War and victory of Mao Zedong's Communist forces over the Kuomintang forces of Generalissimo Chiang Kai-shek, who fled to Taiwan, Mao Zedong proclaimed the founding of the People's Republic of China (PRC) on 1 October 1949.

      What is the People's of Republic China? ›

      China, officially the People's Republic of China (PRC), is a country in East Asia. With a population exceeding 1.4 billion, it is the world's second-most populous country. China spans the equivalent of five time zones and borders fourteen countries by land.

      Is it the Republic of China or China? ›

      The People's Republic of China is commonly known as China and the Republic of China is commonly known as Taiwan. These are separate states with a shared history; China claims sovereignty over Taiwan. After the Kuomintang reunified China in 1928, most of mainland China was governed by the Republic of China (ROC).

      What leader created the People's Republic of China answers com? ›

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

      How did the ROC lose? ›

      1952: The ROC had lost the Mainland to the Communists, and it was only because North Korea had invaded South Korea that the government was safe on Taiwan, with American protection. Reform had only just begun on Taiwan and there were a host of political and economic difficulties and tensions.

      Has China changed its name? ›

      Modern China has had two guohao: Zhonghua Minguo (the Republic of China), which replaced the last imperial dynasty, the Da Qing (“the great pure dynasty”), in 1912; and Zhonghua Renmin Gongheguo (the People's Republic of China), in use from 1949 to the present day.

      What is China called today? ›

      The Chinese Communist Party (CCP) is the founding and ruling political party of modern China, officially known as the People's Republic of China.

      Was Taiwan originally part of China? ›

      The island was annexed in 1683 by the Qing dynasty of China and ceded to the Empire of Japan in 1895. The Republic of China, which had overthrown the Qing in 1912, took control following the surrender of Japan in 1945. Japan renounced sovereignty over Taiwan in 1952.

      Who runs the People's Republic of China? ›

      Xi Jinping
      Incumbent
      Assumed office 15 November 2012
      Preceded byHu Jintao
      7th President of the People's Republic of China
      50 more rows

      Does the Republic of China claim China? ›

      The ROC maintained its claim of being the sole legitimate representative of China and its territory until 1991, when it ceased to regard the CCP as a rebellious group and recognized its jurisdiction over mainland China.

      What is the old name for China? ›

      Marco Polo, the famous explorer who familiarized China to Europe in the 13th century CE, referred to the land as 'Cathay. In Mandarin Chinese, the country is known as 'Zhongguo' meaning "central state" or "middle empire".

      Does the US recognize the Republic of China? ›

      The United States acknowledges the Chinese position that there is but on China and Taiwan is part of China. It recognizes the Government of the People's Republic of China as the sole legal government of China.

      Is China a communist? ›

      The Chinese Communist Party (CCP), officially the Communist Party of China (CPC), is the founding and sole ruling party of the People's Republic of China (PRC). Under the leadership of Mao Zedong, the CCP emerged victorious in the Chinese Civil War against the Kuomintang.

      Who replaced the Republic of China? ›

      As the Chinese Civil War ended in 1949, the Chinese communist People's Republic of China (PRC), led by CCP Chairman Mao Zedong, took control of Mainland China.

      Was the People's Republic of China democratic? ›

      The constitution of the People's Republic of China (PRC) and the CCP constitution state that its form of government is "people's democratic dictatorship". The state constitution also holds that China is a one-party state that is governed by the CCP. This gives the CCP a total monopoly of political power.

      What is the difference between CCP and PRC? ›

      The Chinese Communist Party (CCP), officially the Communist Party of China (CPC), is the founding and sole ruling party of the People's Republic of China (PRC).

      What is the meaning of Republic of China? ›

      Republic of China in British English

      or Nationalist China. a republic (recognized as independent by only a small number of nations) in E Asia occupying the island of Taiwan, 13 nearby islands, and 64 islands of the Penghu (Pescadores) group. Language: Mandarin Chinese.

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