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Modern industry in China
Year 2010, the PRC economy takes the second place in nominal GDP, overtaking Japan, and the 2nd place in the GDP calculated by purchasing power parity.
According to the Constitution, the PRC is a socialist state, but about 70% of GDP is provided by the private enterprises.
In accordance with amendments to the Constitution, adopted in 2004, private ownership is "inviolable". Officially, China calls its current economic system "building of the socialism with Chinese characteristics".
To date, industry of the People's Republic of China is represented in 360 branches.
China ranks first in the world by number of factories and plants.
Metallurgical (metal stamping), pharmaceutical and automotive industries are rapidly developing.
Such modern industries like petrochemicals, electronics, aeronautics, metallurgy of rare and trace metals, were created.
21% of the production of fuel-energy resources is realized by the oil industry in China.
Oil provides about 16% of foreign exchange earnings from exports.
There are more than 32 enterprises of oil mining, total oil reserves are 64 billion tons.
The largest factories in China which process oil are located in the provinces Heyluntszyan, Dugan, Shandong, Tsaydam, Yuymen as well as in underdeveloped areas far from the centers of oil consumption.
Most of the 580 oil refineries are concentrated in the north-eastern China.
South and East of China are rich in natural gas reserves, estimated 4 thousand billion tons: so far been explored only 3,5%. The largest center of mining and processing of gas is the province Xinhua.
Iron smelting traditionally dominates, over the smelting of steel in the steel industry in China.
Excess iron is partially used for the production of agricultural tools, household products, castings, and partially exported.
A special feature of industry in China is that despite rich natural resources, the development of extractive industries in general lags behind the manufacturing sector. In light industry textile and food industries, which account for more than 21% of the total industrial output, play the leading role.
Most Chinese factories for processing cotton and livestock products are located in the north-west of the country, factories and plants of paper, sugar and butter dairy industry are mainly located in north-east China.
In the south-west the food industry is more developed. In general, the food industry has more than 65,500 enterprises. The textile industry is represented by 23.3 thousand enterprises.
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