China's high-quality economic development boosts global confidence

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Jan 30, 2023, 11:01 ET

BEIJING, Jan. 30, 2023 /PRNewswire/ -- A report from People's Daily: China's newly released economic data presented the country's strong economic resilience and vitality to the international society.

The world believes that China sees bright prospects for its high-quality economic development and will keep injecting strong momentum into the global recovery.

From 2020 to 2022, China's economy posted an annual average growth of 4.5 percent, outpacing the world average of 1.8 percent.In 2022, China's economy grew 3 percent year on year to a record high of 121 trillion yuan (about 18 trillion U.S. dollars), with the increment standing at 6.1 trillion yuan, equivalent to the economic aggregate of a medium-sized country.

Global media outlets reported that China's 2022 economic growth was beyond expectation and that the country has shown prospects of robust growth. It is believed that the largest force driving global growth will be China.

According to statistics released by China's National Bureau of Statistics, China's economy increased 3 percent year on year to a record high of 121 trillion yuan (about $18 trillion) in 2022, after its successive breakthroughs of 100 trillion yuan and 110 trillion yuan in 2020 and 2021, respectively. The growth was faster than most of the major economies in the world.

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