After the Mao era, market liberalisation has manifested in private sector growth, stock market development, modern banking, foreign investment and the removal of price restrictions. Since 1978 these reforms have caused the GDP to rise more than tenfold. In 2014, the Chinese economy was deemed to be the largest in the world when adjusted for price differences (on a purchasing power parity basis) having surpassed USA. Though when distributed amoungst its large population, income per capita is paradoxically still below the global average.
The labour force is fairly evenly dispersed across agriculture (34%), industry (30%) and services (36%). China is a leading manufacturer of garments, footwear, toys, cement, chemicals and electronics, and has a rich store of mineral resources including iron, aluminum, zinc, petroleum, natural gas and tungsten.