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The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [27] China is the world's second largest economy by nominal GDP, behind the United States, and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP).
A discount is available for households with only black-and-white television sets. A 50% discount is also offered to people who are registered blind or severely visually impaired, [128] and the licence is completely free for any household containing anyone aged 75 or over. However, from August 2020, the licence fee will only be waived if over 75 ...
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