China's economy has shown strong resilience and momentum during the 14th Five-Year Plan period (2021-2025), with total economic output projected to increase by more than 35 trillion yuan ( about $4.89 trillion).

From 2021 to 2024, the country's economy grew at an average annual rate of 5.5 percent, said Zheng Shanjie, head of the National Development and Reform Commission, at a press conference on Wednesday.

Reflecting robust innovation capacity, total research and development spending rose by nearly 50 percent between 2020 and 2024.