Since the introduction of economic reforms in 1978, China has become one of the world's fastest-growing major economies. As of 2014, it is the world's second-largest economy by nominal total GDP and largest by purchasing power parity (PPP). China is also the world's largest exporter and second-largest importer of goods. China is a recognized nuclear weapons state and has the world's largest standing army, with the second-largest defence budget
The universities of China are among some of the top universities in the world; the University of Tsinghua, the University of Peking, the University of Shanghai Jiao University are all ranked in the global top 50 in the 2013 QS World University Rankings, with university of Peking ranked Forty-sixth. The total numbers of universities in China are more than a few 100.