China’s economy has taken the lead among major economies over recent years, remaining a significant engine fueling global economic growth, an official with the country’s top economic planner said Wednesday.
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From 2020 to 2022, China’s economy posted an annual average growth of 4.5 percent, higher than the world level of around 2 percent, Yuan Da, director of the Department of National Economy of the National Development and Reform Commission (NDRC), told a press conference.
The National Bureau of Statistics on Tuesday reported that China’s economy grew 3 percent to a record high of 121 trillion yuan (about 18 trillion U.S. dollars) in 2022.
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“The achievement has been made amid repeated shocks of multiple unexpected factors,” said NDRC official Jin Xiandong.
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Jin noted that the increment of China’s economy from 2021 to 2022 was 6.1 trillion yuan, which is a large amount and equals the economic aggregate of a medium-sized country.
Citing unchanged fundamentals underpinning China’s long-term economic growth and increased positive factors prompting the overall economic turnaround, Yuan said China has the confidence, conditions, and ability to further promote its overall economic growth in 2023.