China’s Economic Strength: A Historic Leap

CCTV News: On September 9, the National Bureau of Statistics released a series of reports on the economic and social development achievements of New China over the past 75 years. The report emphasizes that since the founding of the People’s Republic of China 75 years ago, our country’s national economy has grown rapidly, its economic strength has increased unprecedentedly, its per capita GDP has increased significantly, and its overall national strength has ranked among the first in the world.

China’s Economic Aggregate: A Consistent Rise

Since the founding of the People’s Republic of China 75 years ago, our country’s economic aggregate has consistently surpassed important milestones. Since statistics have been available, my country’s GDP has increased from 67.9 trillion yuan in 1952 to over 126 trillion yuan in 2023, firmly ranking as the world’s second largest economy. Calculated at constant prices, the GDP in 2023 will increase 223 times compared to 1952, with an average annual growth rate of 7.9%. Among them, the average annual growth rate from 1979 to 2023 is 8.9%, much higher than the world economic growth rate of 3.0% in the same period.

Per Capita GDP: A Significant Increase

Per capita GDP has increased significantly. After long-term efforts and development, since the statistical data are available, China’s per capita GDP has increased from 119 yuan in 1952 to 89,358 yuan in 2023, an actual increase of 89 times compared to 1952, with an average annual growth rate of 6.5%, converted according to the average annual exchange rate is 12,681 US dollars, exceeding 12,000 US dollars for three consecutive years, and the per capita GDP is constantly increasing, according to the World Bank data and classification standards, China’s per capita gross national income (GNI) will reach the United States; 13,400 US dollars in 2023, jumped from a low-income country in the early days of the founding of New China. It is an upper-middle-income country.

China’s Overall National Strength: Among the World’s Top

The overall national strength is among the first in the world. At the dawn of the founding of New China, my country’s economic aggregate accounted for a very small percentage of the world total. In 1978, it was only 1.7%, ranking 10th in the world. After the reform and opening up, my country’s economy has continued to grow rapidly. From 1979 to 2023, its average annual contribution rate to world economic growth reached 24.8%, ranking first in the world. my country has become the world’s largest manufacturing country, the largest country in goods trade, the second largest consumer of goods, and the largest country in foreign exchange reserves. Our country has also made a magnificent transformation, moving from the edge of the world system to the center of the world stage, becoming an important participant, builder, and contributor to the international system.