The People’s Republic of China has an area of 9,640,821 square kilometers with population of over 1.3 billion people.
China’s economy benefits primarily from manufacturing at low costs which is possible thanks to the cheap labour, good infrastructure, high productivity, medium level of technology and skill, and more.
Four of the world’s top ten most valuable companies are in China. In fact, 37 Chinese companies were in the 2009 Fortune Global 500, as 26 of them were located in Beijing.
Since 1978, the country has grown economically and saved millions of its people from poverty.
The energy use in the country is highly inefficient, and that makes it the second largest energy consumer behind the US. In addition, the environmental regulation is extremely low which has led to a massive water and air pollution.
The currency of China is the yuan, although people often refer to it as renminbi.
Renminbi (RMB) and Yuan are not interchangeable terms, although media often refers to Chinese currency as either one.
The difference is simple: RMB refers to the currency of China as opposed to any other currency.
Yuan, on the other hand, is a unit of RMB.
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