China's National Bureau of Statistics reports that the country's gross domestic product grew by 5 percent year-on-year in the first half of 2024. China's exports reached approximately 12 trillion yuan, or 1.7 trillion U.S. dollars, marking a 6.9 percent increase year-on-year in the same period. John Gong, vice president of Research and Strategy at the University of International Business and Economics in Israel, says the figures indicate that Chinese companies and products are highly competitive in the international market.