China’s transformation into a predominantly industrial and service-based economy has underpinned a dramatic rise in GDP per capita over the past decade, reflecting a structural shift to higher-value manufacturing, technology, and urban-centric service industries.

Over the past decade, China’s official urban unemployment rate has remained relatively stable around 5%, though youth unemployment has increased. The currency has seen moderate fluctuations, while inflation has generally remained low.

Government debt as a % of GDP rose sharply in the last decade, indicating large government spending. Private consumption has also increased as consumers become more inclined to spending rising incomes on premium goods.