China now second largest economy

China has overtaken Japan to become the world's second-largest economy after three decades of rapid growth, a top Chinese official has announced.

"China, in fact, is now already the world's second-largest economy," China's chief currency regulator Yi Gang said in an interview with the latest issue of the China Reform magazine.
The World Bank predicts that China will surpass the United States as the world's largest economy sometime around 2025.

On a similar note , a new report released earlier last March by the United Nations Industrial Development Organization (UNIDO) said that China has overtaken Japan to become the world's second largest industrial manufacturer.