Its basic structure is mostly that of a developing country, with the majority of the population employed on the land. However, there is a significant industrial base, and expanding pockets of advanced manufacturing and technological enterprises - including a space programme. The economy has undergone rapid and consistent growth of around 8-9 per cent annually since the introduction of economic reforms in the 1980s.
China is the world's largest producer of rice, and a major producer of cereals and grain.
Large mineral deposits, particularly coal and iron ore, provide the raw material for an extensive steel industry. In the last ten years, central government policy has switched the emphasis in development from heavy to light industry, and promoted the evolution of a service sector. Chemicals and high technology industries have grown particularly quickly. China is self-sufficient in oil and is developing a petrochemicals industry. Trade has been hampered somewhat in recent years by a shortage of foreign exchange, but China has benefited from the availability of soft loans from Western banks.