In recent years, in order to diversify and foster more globally competitive industries, China has renewed support for its state-owned enterprises in sectors considered important to “economic security”. This public sector also employs approximately 63% of the labour force.
China also ranks 14th on the Global Innovation Index but ranks relatively low on the Index of Economic Freedom at 100th.
The country’s top export destinations are the USA, HK, Japan and South Korea for commodities such as electrical and other machinery, apparel, furniture and textiles.
