Published on : Monday, July 2, 2018
“Chinese economy remained an important growth engine for the world’s economic recovery,” NBS chief statistician Sheng Laiyun said.
As per World Bank data, China contributed 34 percent of world economic growth in 2012-2016, which is more than that of the United States, European Union and Japan combined.
China’s economy expanded 6.9 percent last year to 82.7 trillion Yuan (12.8 trillion U.S. dollars), around 15 percent of the world total. Foreign exchange reserves, the world’s largest, reached 3.1 trillion dollars, and trade with countries along the Belt and Road rose 17.8 percent to 7.4 trillion Yuan (1.15 trillion dollars).
The World Bank said that China can achieve more inclusive and sustainable development with coordinated reform, and that its rapid growth that has resulted in a decline in poverty “unprecedented in its speed and scale.”
“China’s remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty,” said Hoon S. Soh, World Bank program leader for economic policy for China.
Today China has gained worldwide recognition for its achievements in diverse fields.
As the world’s second largest economy with a population of more than 1.3 billion, China has made significant contributions to the development of world tourism in the recent years, according to Zhu Shanzhong, the executive director of the UNWTO.
“Thanks to the contribution made by the Chinese market, the world tourism has been on a rapid development for years. We do believe that the Chinese market is vital and irreplaceable for further development of the world tourism,” Zhu said.
Tags: china, world economic growth