Bilingual | Qiuping: China's development prospects are bright

China's development prospects are bright

China’s Development Has a Bright Future Ahead

Akihira

Qiu Ping

　　In the new era, on the basis of the miracle of rapid economic development created since the founding of the People's Republic of China, especially since the reform and opening up, China's GDP has jumped from 54 trillion yuan in 2012 to more than 126 trillion yuan in 2023, and the growth rate is in the forefront of the world's major economies.

　　Since the founding of the People’s Republic of China in 1949, and particularly since the introduction of reform and opening up in 1978, the country has experienced nothing short of economic miracles. As we enter the new era in 2012, China’s GDP soared from 54 trillion yuan ($7.56 trillion) to over 126 trillion yuan ($17.5 trillion) in 2023, ranking among the top growth rates among the global major economies.

　　At the same time, China's economy has continued to move forward steadily on the track of high-quality development, and has entered the ranks of innovative countries, the income gap between urban and rural residents has continued to narrow, with an average annual energy consumption growth rate of 3% to support economic growth of more than 6%, the total import and export volume of goods has ranked first in the world for many years, attracting foreign investment and foreign investment are among the top in the world, and the real growth rate of per capita disposable income of residents is basically synchronized with GDP growth.

　　Simultaneously, China’s economy continues to steadily advance on the track of high-quality development, having entered the ranks of innovative nations. The income gap between urban and rural residents is steadily narrowing, with an annual energy consumption growth of 3% supporting an impressive 6% growth in the economy. China’s total imports and exports of goods have continuously ranked first in the world, while both inbound and outbound direct investments remain among the top globally. The growth of the per capita disposable income of Chinese residents has been in tandem with GDP growth.

　　In 2023, China withstood external pressures and overcome internal difficulties, and successfully completed the main goals and tasks of economic and social development for the whole year, with economic growth ranking among the world's major economies and contributing more than 30% to world economic growth.

　　In 2023, China successfully achieved its economic and social development goals, despite external pressures and internal challenges. Its economic growth outpaced other major economies worldwide, continuously contributing over 30% to global growth.

　　From January to February this year, the added value of industrial enterprises above designated size increased by 7.0 percent year-on-year, the production index of the service industry increased by 5.8 percent, the total retail sales of consumer goods increased by 5.5 percent, the investment in manufacturing increased by 9.4 percent, and the total import and export of goods increased by 8.7 percent.

　　From January to February 2024, key economic indicators saw strong performance – the added value of the national industrial enterprises above a designated size grew by 7.0% year-on-year, the service industry production index increased by 5.8%, total retail sales of consumer goods rose by 5.5%, manufacturing investment grew by 9.4%, and the combined imports and exports of goods increased by 8.7%.

　　China's economic operation continued to pick up and improve. Practice has fully proved that China's economy is healthy and sustainable. In the past, at present and in the future, China has always been a stable driving force for world economic growth and a dynamic market for countries to expand business opportunities.

　　The Chinese economy continues to experience ongoing recovery and growth, demonstrating its health and sustainability. China has long been and will continue to act as a stable engine of global growth, offering a big market with enormous opportunities for businesses worldwide.

　　Today's Chinese economy has been deeply integrated with the world economy, and China's future and destiny are closely linked to the future and destiny of mankind. Reform and opening up is an important magic weapon for contemporary China to make great strides to catch up with the times, and China's reform will not stop and opening up will not stop.

　　Today, China’s economy is deeply integrated with the global economy, and its future is intricately intertwined with that of humanity. China has been keeping pace with the changing times through reform and opening up, a trajectory it will steadfastly continue.

　　China is planning and implementing a series of major measures to comprehensively deepen reforms, continue to build a market-oriented, law-based and international first-class business environment, and provide broader development space for enterprises from all over the world. China's door to opening up will open wider and wider, and a more open China will surely bring more opportunities for win-win cooperation to the world.

　　The country is actively undertaking measures to create a business environment that is market-oriented, law-based, and internationalized, providing ample room for foreign businesses to thrive. China’s door will open even wider, offering increased opportunities for mutually beneficial cooperation with the world.

　　Chinese Editor: Hao Yao

　　Translation: Jiang Wenyan

　　English revision: Li Changshui, Liu Yufen

　　English review: Nie whispering

　　Producer: Yu Bo, Li Xiaojuan