Chinese Private Enterprises: Evolution and Challenges for Leadership

Abstract

According to the IMF World Economic Outlook database, in 2014 China became the largest economy in the world, with a gross domestic product (GDP) of US$18.088 trillion (16.6 of the world total), based on purchasing power parity (PPP) valuation, surpassing the USA (US$17.348 trillion; 15.9 of the world total) (IMF 2015). It is an average GDP (PPP) per capita of $13,224, a growth of 42,764 % from 1980, the beginning of its economic reform period, when GDP (PPP) was US$309 per capita (IMF 2015). The estimated calculation of IMF data put China in the top position in 2015 in terms of PPP.