China was one of the world's foremost economic powers throughout the arc of East Asian and global history. The country had one of the largest economies in the world for most of the past two millennia, during which it has seen cycles of prosperity and decline. Since economic reforms began in 1978, China has developed into a highly diversified economy and one of the most consequential players in international trade. Major sectors of competitive strength include manufacturing, retail, mining, steel, textiles, automobiles, energy generation, green energy, banking, electronics, telecommunications, real estate, e-commerce, and tourism. China has three out of the ten largest stock exchanges in the world—Shanghai, Hong Kong and Shenzhen—that together have a market capitalization of over $15.9 trillion, . China has three (Shanghai, Hong Kong, and Shenzhen) out of the world's top ten most competitive financial centers according to the 2024 Global Financial Centres Index.
china was one of the world's foremost economic powers throughout the arc of east asian and global history the country had one of the largest economies in the world for most of the past two millennia during which it has seen cycles of prosperity and decline since economic reforms began in 1978 china has developed into a highly diversified economy and one of the most consequential players in international trade major sectors of competitive strength include manufacturing retail mining steel textiles automobiles energy generation green energy banking electronics telecommunications real estate e-commerce and tourism china has three out of the ten largest stock exchanges in the world—shanghai hong kong and shenzhen—that together have a market capitalization of over $159 trillion  china has three (shanghai hong kong and shenzhen) out of the world's top ten most competitive financial centers according to the 2024 global financial centres index