BEIJING, Jan 10, (Asia Free Press): China reached a milestone in 2021 with significant achievements pertaining to foreign trade, technological breakthroughs and industrial chain resilience.
“China has taken a leading position in both economic development and pandemic control worldwide in 2021,” Han Wenxiu, an official with China’s Central Committee for Financial and Economic Affairs, said in a recent article, highlighting the country’s progress in coordinating pandemic control and economic development.
According to World Bank projections, China’s real gross domestic product (GDP) growth will reach 8 per cent in 2021, and its “momentum is expected to pick up, aided by a more supportive fiscal stance.”
Experts also estimated that the per capita GDP of China would exceed 12,000 US dollars, close to the measure of a high-income country as classified by the World Bank, reported Xinhua.
Pointing to the strong resilience of the country’s economy, Han stressed that China’s foreign trade gained strong momentum over the past year, as the world’s largest exporter posted a record-high share of global trade.
The latest data from the commerce ministry showed that China’s total imports and exports of goods are expected to reach 6 trillion US dollars in 2021, with the year-on-year growth amounting to approximately 1.3 trillion dollars.
As a pillar for the global supply chain, China-Europe freight trains emerged as another highlight considering their crucial role in enhancing global supply chains, stabilising consumer prices, and helping countries combat COVID-19 outbreaks.
The world’s second-biggest economy has staged an impressive rebound from the pandemic-induced slump. The growth rate of major economic indicators stayed within a reasonable range in the past year, as the consumer price index growth and the surveyed urban unemployment rate stood at relatively low levels, and more than 12 million new urban jobs were created.
Stability will be a top priority for the Chinese economy in 2022, Han stated while adding, “China is totally capable of maintaining steady, sound and sustained economic development.”