China
East Asia · Beijing · CNY (Chinese Renminbi (Yuan))
Economy & industry overview
China is the world's second-largest economy by nominal GDP, with output of approximately 18.73 trillion USD in 2024. The economy is driven by manufacturing, technology, financial services, energy, and a rapidly growing consumer sector. China is the world's largest exporter and a leading destination for foreign direct investment, with 142 of the Fortune Global 500 companies headquartered there. The government targets annual growth of around 5 percent, which was met in 2024 despite headwinds from a weak property sector and subdued domestic demand. Mainland China operates two major stock exchanges, the Shanghai Stock Exchange and the Shenzhen Stock Exchange, together hosting over 5,000 domestically listed companies.
Key sectors
Learn everything about China →Macro
| GDP nominal, USD | $18.73T |
| GDP growth real, annual | 5.0% |
| Inflation annual | 0.2% |
| Population people | 1.41B |
| GDP per capita USD | $13,324 |
| Market cap total listed, USD | $11.76T |
| Market cap / GDP | 62.7% |
| Unemployment | 5.1% |
| Listed companies | 11,231 |
| Exchange | Shanghai Stock Exchange (primary mainland exchange, supplemented by the Shenzhen Stock Exchange for growth and tech listings). (SSE) |
Primary data year: 2024. Sources: National Bureau of Statistics of China, 2024 Statistical Communique, World Bank World Development Indicators, IMF World Economic Outlook, FocusEconomics China Profile, State Council Information Office of China, Macrotrends China GDP Data, TheGlobalEconomy.com (World Bank source), MSCI Index Factsheets. Individual figures may cover different reference periods — for example a fiscal year, or an estimate for the current year — and the overview above states these where known.
Latest news
Links open the publisher's website in a new tab.
Other East Asia markets
Taiwan
South KoreaLargest listed companies
The biggest companies on the main local exchange, by market capitalisation. Where a foreign company holds a secondary listing here, it is shown after the domestic companies.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Kweichow Moutai600519 · SSE | Consumer Staples · Beverages | $255.00B | — |
| 2 | ICBC (Industrial and Commercial Bank of China)601398 · SSE | Financials · Banking | $230.00B | — |
| 3 | China Construction Bank601939 · SSE | Financials · Banking | $195.00B | — |
| 4 | Agricultural Bank of China601288 · SSE | Financials · Banking | $185.00B | — |
| 5 | China Mobile600941 · SSE | Telecommunications | $185.00B | — |
| 6 | Bank of China601988 · SSE | Financials · Banking | $165.00B | — |
| 7 | PetroChina601857 · SSE | Energy · Oil and Gas | $155.00B | PTR |
| 8 | China Merchants Bank600036 · SSE | Financials · Banking | $130.00B | — |
| 9 | CATL (Contemporary Amperex Technology)300750 · SZSE | Industrials · Battery Manufacturing | $130.00B | — |
| 10 | Ping An Insurance000001 · SZSE | Financials · Insurance | $100.00B | — |
| 11 | BYD Company002594 · SZSE | Consumer Discretionary · Electric Vehicles | $95.00B | BYDDY |
| 12 | China Shenhua Energy601088 · SSE | Energy · Coal | $90.00B | — |
| 13 | China Yangtze Power600900 · SSE | Utilities · Hydroelectric Power | $80.00B | — |
| 14 | CNOOC (China National Offshore Oil Corporation)600938 · SSE | Energy · Oil and Gas | $80.00B | — |
| 15 | China Life Insurance601628 · SSE | Financials · Insurance | $78.00B | LFC |
| 16 | China Petroleum and Chemical Corporation (Sinopec)600028 · SSE | Energy · Oil and Gas | $75.00B | SNP |
| 17 | Wuliangye Yibin000858 · SZSE | Consumer Staples · Beverages | $65.00B | — |
| 18 | China Telecom601728 · SSE | Telecommunications | $60.00B | — |
| 19 | Midea Group000333 · SZSE | Consumer Discretionary · Home Appliances | $55.00B | — |
| 20 | Bank of Communications601328 · SSE | Financials · Banking | $52.00B | — |
| 21 | Zijin Mining Group601899 · SSE | Materials · Mining and Metals | $40.00B | — |
| 22 | China State Construction Engineering601668 · SSE | Industrials · Construction and Engineering | $38.00B | — |
| 23 | China Pacific Insurance601601 · SSE | Financials · Insurance | $38.00B | — |
| 24 | China Unicom600050 · SSE | Telecommunications | $35.00B | — |
| 25 | China Tourism Group Duty Free Corporation601888 · SSE | Consumer Discretionary · Retail | $30.00B | — |
| 26 | CITIC Securities600030 · SSE | Financials · Capital Markets | $28.00B | — |
| 27 | Haier Smart Home600690 · SSE | Consumer Discretionary · Home Appliances | $25.00B | — |
| 28 | LONGi Green Energy Technology601012 · SSE | Energy · Solar | $20.00B | — |
| 29 | China Railway Group601390 · SSE | Industrials · Construction and Engineering | $18.00B | — |
| 30 | China Minsheng Banking Corporation600016 · SSE | Financials · Banking | $16.00B | — |
US-traded ETFs
Funds listed in the US that give exposure to this market, the simplest route for many US investors.
| ETF | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|
| CXSEWisdomTree China ex-State-Owned Enterprises Fund · WisdomTree | Single-country | 0.32% | 100% |
| GXCState Street SPDR S&P China ETF · State Street SPDR | Single-country | 0.59% | 100% |
| MCHIiShares MSCI China ETF · BlackRock iShares | Single-country | 0.59% | 100% |
| CNYAiShares MSCI China A ETF · BlackRock iShares | Single-country | 0.60% | 100% |
| ASHRXtrackers Harvest CSI 300 China A-Shares ETF · DWS Xtrackers | Single-country | 0.65% | 100% |
| KWEBKraneShares CSI China Internet ETF · KraneShares | Single-country | 0.69% | 100% |
| PGJInvesco Golden Dragon China ETF · Invesco | Single-country | 0.70% | 100% |
| FXIiShares China Large-Cap ETF · BlackRock iShares | Single-country | 0.74% | 100% |
| VWOVanguard FTSE Emerging Markets ETF · Vanguard | Broad EM | 0.08% | 28% |
| EEMiShares MSCI Emerging Markets ETF · BlackRock iShares | Broad EM | 0.70% | 25% |
Local exchange & access
| Exchange | Shanghai Stock Exchange (primary mainland exchange, supplemented by the Shenzhen Stock Exchange for growth and tech listings). |
| Code | SSE |
| Website | www.sse.com.cn |
| Currency | CNY |
Local broker access
Foreign retail investors cannot directly purchase China A-shares listed on the Shanghai and Shenzhen exchanges without going through the Stock Connect programmes (Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect) or qualifying as a Qualified Foreign Institutional Investor (QFII). Most international retail investors access China equities through Hong Kong-listed H-shares, US-listed ADRs, or China-focused ETFs. Interactive Brokers, Fidelity, and Schwab offer access to Hong Kong-listed Chinese stocks and China-focused ETFs for eligible international clients.
Global brokers with foreign-market access
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Listed for convenience only. Not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.
Relocation & residency
Investment visa / residency programme
Grants No formal investment-migration programme
Mainland China does not operate a formal golden visa or residency-by-investment programme open to foreign nationals in the conventional sense. China introduced a permanent residence permit system for foreigners in 2004, which can be granted based on employment, family, or contribution to China, but there is no published minimum investment threshold or structured investment-migration pathway equivalent to programmes in other countries.
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Foreign nationals may obtain a Chinese residence permit or permanent residence (the so-called Chinese green card) through employment, family reunification, or significant contribution to China, but approvals are discretionary and historically rare. China does not publish a structured investor visa route with a defined minimum investment amount. Long-term business visas (M visa) are available for trade and commercial activities.
US-listed ADRs & cross-listings
Companies from this country whose shares also trade in the US, investable in a normal US brokerage account.
| Company | US ticker | Local ticker | Note |
|---|---|---|---|
| Alibaba Group Holding | BABA | 9988 (HKEX) | Alibaba is China's largest e-commerce and cloud computing conglomerate, operating platforms including Taobao, Tmall, and Alibaba Cloud. It is listed as an ADR on the New York Stock Exchange and has a primary listing on the Hong Kong Stock Exchange. |
| Baidu | BIDU | 9888 (HKEX) | Baidu operates China's dominant internet search engine and has significant investments in autonomous driving technology, AI, and cloud services. It is listed on Nasdaq and has a secondary listing on the Hong Kong Stock Exchange. |
| China Life Insurance | LFC | 601628 (SSE) | China Life Insurance is the country's largest life insurer and is listed on the New York Stock Exchange as an ADR, in addition to its primary listings on the Shanghai and Hong Kong stock exchanges. |
| Full Truck Alliance | YMM | — | Full Truck Alliance operates China's largest digital freight platform, connecting shippers with truck drivers across the country. It is listed on the New York Stock Exchange. |
| JD.com | JD | 9618 (HKEX) | JD.com is China's second-largest e-commerce company by revenue, known for its direct-sales model and extensive owned logistics network. It is listed on Nasdaq and has a secondary listing on the Hong Kong Stock Exchange. |
| Kanzhun (BOSS Zhipin) | BZ | — | Kanzhun operates BOSS Zhipin, one of China's largest online recruitment platforms connecting job seekers directly with company managers. It is listed on Nasdaq. |
| Li Auto | LI | 2015 (HKEX) | Li Auto is a Chinese electric vehicle manufacturer specialising in extended-range and battery electric vehicles for the domestic market. It is listed on Nasdaq and has a dual primary listing on the Hong Kong Stock Exchange. |
| NIO | NIO | 9866 (HKEX) | NIO is a Chinese premium electric vehicle manufacturer known for its battery-as-a-service subscription model and battery swap network. It is listed on the New York Stock Exchange and also trades in Hong Kong and Singapore. |
| NetEase | NTES | 9999 (HKEX) | NetEase is one of China's largest online gaming and internet services companies, with a portfolio of domestic and internationally released game titles. It is listed on Nasdaq and has a secondary listing on the Hong Kong Stock Exchange. |
| PDD Holdings (Pinduoduo / Temu) | PDD | — | PDD Holdings operates Pinduoduo, a major Chinese e-commerce platform known for group buying and agricultural products, and Temu, a fast-growing international discount marketplace. The company is listed on the Nasdaq Global Select Market. |
| PetroChina | PTR | 601857 (SSE) | PetroChina is China's largest oil and gas producer and trades in the United States as an ADR. It also has primary listings on the Shanghai and Hong Kong stock exchanges. |
| Sinopec (China Petroleum and Chemical Corporation) | SNP | 600028 (SSE) | Sinopec is one of the world's largest integrated energy and petrochemical companies. It is listed on the New York Stock Exchange as an ADR, and also trades in Shanghai and Hong Kong. |
| Trip.com Group | TCOM | 9961 (HKEX) | Trip.com (formerly Ctrip) is China's largest online travel agency, providing hotel booking, airline tickets, packaged tours, and corporate travel management services. It is listed on Nasdaq and has a secondary listing on the Hong Kong Stock Exchange. |
| XPeng | XPEV | 9868 (HKEX) | XPeng is a Chinese smart electric vehicle manufacturer focused on technology integration and autonomous driving features. It is listed on the New York Stock Exchange and has a dual primary listing in Hong Kong. |
| Yum China Holdings | YUMC | 9987 (HKEX) | Yum China is the operator of KFC, Pizza Hut, and Taco Bell restaurants in China and is the largest restaurant company in China by sales. It is listed on the New York Stock Exchange and has a secondary listing in Hong Kong. |