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China's share of global economy rises to over 18%: official
CGTN
The Port of Qingdao in east China's Shandong Province, April 13, 2022. /CFP

The Port of Qingdao in east China's Shandong Province, April 13, 2022. /CFP

China accounted for over 18 percent of the global economy in 2021, rising from 11.4 percent in 2012, an official said Thursday.

China has both cemented and improved its status as the world's second-largest economy over the past decade, said Han Wenxiu, a senior official with the Central Committee for Financial and Economic Affairs.

The country's gross domestic product (GDP) topped 114 trillion yuan (about $16.94 trillion) in 2021, and per capita GDP reached $12,500, close to the threshold for high-income economies, Han said.

The contribution of China's economic growth to the world economy has stood at around 30 percent in recent years, making it the largest growth engine for the global economy, Han added.

Over the past decade, the share of the country's goods exports in the international market has risen from 11 percent to 15 percent, and the number of free trade agreements signed has increased from 10 to 19.

The country has also constructed 21 pilot free trade zones and the Hainan Free Trade Port to achieve comprehensive and high-level opening up.

(With input from Xinhua)

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