China
2022.10.09 21:10 GMT+8

China says its economic fundamentals sound, committed to opening-up

Updated 2022.10.09 21:10 GMT+8
CGTN

China's long-term economic fundamentals remain sound and unchanged, and the country is committed to opening-up, the Chinese Foreign Ministry said on Sunday.

In a report released last month, the National Bureau of Statistics (NBS) said China's gross domestic product (GDP) expanded at an average annual growth rate of 6.6 percent from 2013 to 2021, higher than the growth pace of 2.6 percent for the global economy and 3.7 percent for developing economies.

Citing the data, Mao Ning, spokesperson for the Chinese Foreign Ministry, said China contributed up to 38.6 percent on average to world economic growth during the period, more than the G7 countries combined.

In 2021 alone, China's economic aggregate accounted for 18.5 percent of the world's total after currency translation based on average annual exchange rates, the second largest in the world and up 7.2 percentage points from 2012, according to the NBS report.

It also showed that the total value of China's goods and services trade reached $6.9 trillion in 2021, continuing to rank top globally.

Mao said that the fundamentals sustaining China's sound economic growth in the long run remain unchanged, and China remains committed to opening-up.

"We will continue to uphold the principle of openness, inclusiveness, mutual benefit and win-win results, expand high-level opening-up, share development dividends with the world and contribute more to the strong, sustainable, balanced and inclusive growth of the world economy," said the spokesperson.

Read more:

Graphics: China's economy in 2021

Graphics: What are China's targets in 2022?

(Cover: File of the Yangluo Port in Wuhan, central China's Hubei Province. /CFP)

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