BEIJING: With its economic aggregate nearly doubling from 2013 to 2021, China has seen a decade of remarkable progress and has taken on a bigger role on the international stage. Throughout this period, China’s GDP expanded at an average annual rate of 6.6 percent, higher than the growth pace of 2.6 percent for the global economy and 3.7 percent for developing economies, a report from the National Bureau of Statistics (NBS) showed. Per-capita GDP hit 80,976 yuan ($11,684) in 2021, up 69.7 percent from 2012—after allowing for inflation.
China’s average contribution to global economic growth exceeded 30 percent in 2013-21, ranking first in the world. The people are the greatest beneficiary of the development. Last year, per-capita disposable income reached 35,128 yuan ($4,903), up 18,618 yuan ($2,599) from 2012. It represented an annual average growth of 6.6 percent after allowing for inflation, 0.5 percentage point higher than that of the per-capita GDP. From 2013 to late 2020, a total of 98.99 million poor rural residents shook off absolute poverty, the NBS further said.
“Over the past decade, China has been among the leading countries in economic, foreign trade, foreign direct investment and outward investment growth. Consistent reforms and opening up have driven this development,” Yu Miaojie, President of Liaoning University and a dingtuished professor of Peking university, told Beijing Review. China has lived up to its commitment to innovative, coordinated, green, open and shared development. Facing external challenges in recent years, the country now stands ready to consolidate growth momentum via its complete industrial system and an expanding market fostered over the past years, Yu said.
–The Daily Mail-Beijing review news exchange item
