Since the introduction of economic reforms in 1978, the Chinese economy has become one of the world's fastest-growing major economies. , it was the world's second-largest economy by nominal GDP and largest by purchasing power parity (PPP). China was also the world's largest exporter and second-largest importer of goods. China is a member of numerous formal and informal multilateral organizations, including the WTO, APEC, BRICS, the Shanghai Cooperation Organisation (SCO), the BCIM, and the G-20.
