The People's Republic of China (2024)

  • Countries & Regions
  • China, Mongolia & Taiwan
  • 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 the 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 meant by People's Republic of China? ›

      Definitions of People's Republic of China. noun. a communist nation that covers a vast territory in eastern Asia; the most populous country in the world. synonyms: Cathay, China, Communist China, PRC, Red China, mainland China. example of: Asian country, Asian nation.

      Is there a difference between China and the People's Republic of China? ›

      What it means: The People's Republic of China refers to the country as a geographic and political entity. Sometimes it's also appropriate to shorten this to China when it's being used to refer to the historical civilisation and political system in the region of the modern nation-state.

      How did China become known as the People's Republic of China? ›

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

      What is the actual name of China? ›

      The People's Republic of China (Zhōnghuá Rénmín Gònghéguó) and the Republic of China (Zhōnghuá Mínguó) are the official names of the two governments presently claiming sovereignty over "China".

      Is the People's Republic of China still 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).

      Who runs the People's Republic of China? ›

      Incumbent Xi Jinping
      President of the People's Republic of China
      Simplified Chinese(中国)国家主席
      Traditional Chinese(中國)國家主席
      Transcriptions
      6 more rows

      What ideology is the People's Republic of China? ›

      Marxism–Leninism was the first official ideology of the Chinese Communist Party, and is a combination of classical Marxism (the works of Karl Marx and Friedrich Engels) and Leninism (the thoughts of Vladimir Lenin).

      Who rules the People's Republic of China? ›

      Xi Jinping

      Does the US recognize the People's Republic of China? ›

      On January 1, 1979, the United States recognized the PRC and established diplomatic relations with it as the sole legitimate government of China.

      When did China stop being the People's Republic of China? ›

      The Republic of China (ROC), or simply China, was a sovereign state based on mainland China from 1912 to 1949 prior to the government's relocation to Taiwan, where it continues to be based today.

      What nationality is the People's Republic of China? ›

      The People's Republic of China is a unitary multinational state; Persons belonging to any of the nationalities in China shall have Chinese nationality.

      What is the old name of 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".

      Is China bigger than the US? ›

      Top 10 Largest Countries in the World (by total area km²):

      Encyclopedia Britannica gives the third slot to China (9,600,013 km²) and places the United States in fourth. However, other sources, such as the United Nations and the CIA World Factbook, display a larger area for the U.S. and rank it above China.

      Was the People's Republic of China a democracy? ›

      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.

      Why is Taiwan called the Republic of China? ›

      During the 1950s and 1960s, after the ROC government had withdrawn to Taiwan, it was commonly referred to as "Nationalist China" (or "Free China") to differentiate it from "communist China" (or "Red China"). Over subsequent decades, the Republic of China has become commonly known as "Taiwan", after the main island.

      What happened to the Republic of China? ›

      The ROC government relocated to Taiwan in 1949 while fighting a civil war with the Chinese Communist Party. Since then, the ROC has continued to exercise effective jurisdiction over the main island of Taiwan and a number of outlying islands, leaving Taiwan and China each under the rule of a different government.

      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.

      Top Articles
      Latest Posts
      Article information

      Author: Velia Krajcik

      Last Updated:

      Views: 6104

      Rating: 4.3 / 5 (54 voted)

      Reviews: 93% of readers found this page helpful

      Author information

      Name: Velia Krajcik

      Birthday: 1996-07-27

      Address: 520 Balistreri Mount, South Armand, OR 60528

      Phone: +466880739437

      Job: Future Retail Associate

      Hobby: Polo, Scouting, Worldbuilding, Cosplaying, Photography, Rowing, Nordic skating

      Introduction: My name is Velia Krajcik, I am a handsome, clean, lucky, gleaming, magnificent, proud, glorious person who loves writing and wants to share my knowledge and understanding with you.