BEIJING: China’s National Development and Reform Commission (NDRC), the country’s top economic planner, vowed Thursday that China will boost high-quality development through measures such as sci-tech innovation and expansion of domestic demand.
The Chinese economy witnessed the momentum of recovery, as China’s gross domestic product (GDP) surpassed 126 trillion yuan (about $17.5 trillion) in 2023, an increase of 5.2 percent over the previous year, Liu Sushe, vice chairman of the NDRC, said this Thursday during a press conference held by the State Council Information Office.
According to Liu, the NDRC will pay more attention to expanding effective demand, rely more on reform and innovation to enhance the vitality of and drive toward development, and focus more on developing and strengthening the real economy.
Specifically, China will guide its development of modern industrial system with scientific and technological innovation, promote the transformation and upgrading of traditional industries, and vigorously develop the digital economy.
Meanwhile, the country will step up efforts to expand domestic demand, and promote the steady recovery and expansion of consumption.
Liu also underlined China’s plans of advancing high-level opening-up, comprehensively promoting rural revitalization, accelerating green and low-carbon development, and strengthening security for food, energy, resources, industrial chains and supply chains. –The Daily Mail-CGTN news exchange item
