China’s GDP rises

China’s GDP rose from 54 trillion to 80 trillion yuan (about 12.1 trillion U.S. dollars) over the past five years, Xi Jinping said Wednesday.

Xi made the remarks in a report to the 19th National Congress of the Communist Party of China (CPC).

“The economy has maintained a medium-high growth rate, making China a leader among the major economies,” he said.

China has maintained its position as the world’s second largest economy and contributed more than 30 percent of global economic growth, Xi said.

The rapid GDP growth is among the major economic achievements under the leadership of the CPC in the five years since the 18th CPC National Congress in 2012.

The economic structure has been steadily improved as the supply-side structural reform has made further headway, he said.

The five years also saw agricultural modernization steadily advance, with annual grain production reaching 600 million metric tons, said Xi.

The level of urbanisation has risen by an annual average of 1.2 percentage points, and more than 80 million people who have moved from rural to urban areas have gained permanent urban residency, he said.

“The new institutions of the open economy have been steadily improved. China now leads the world in trade, outbound investment, and foreign exchange reserves,” he said. – People’s Daily Online

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