China's economy has demonstrated remarkable resilience during the 14th Five-Year Plan period (2021-2025), with the growth in GDP projected to exceed 35 trillion yuan (4.88 trillion U.S. dollars).
Zheng Shanjie, head of the National Development and Reform Commission, China's top economic planner, told a press conference in Beijing on Wednesday that the country's GDP is expected to hit 140 trillion (about 19.51 trillion U.S. dollars) this year.
"China's GDP has successively crossed the marks of 110 trillion, 120 trillion, 130 trillion yuan, and this year we expect it to reach around 140 trillion yuan. We estimated the accumulated increase will surpass 35 trillion yuan. So what does that mean? During the annual NPC session this year in March, I said that this is like creating another economic size of the Yangtze River Delta. It is also equivalent to the combined GDP of Guangdong, Jiangsu and Shandong, which are the top three provinces in terms of GDP in China. This increment is also higher than the GDP of the third largest economy in the world," said Zheng.
Despite the impacts of the pandemic and trade bullying, China's growth is an unprecedented achievement given its vast economic scale, he said.
"China's contribution to global growth has been around 30 percent for many years. And for the first four years of the Five-Year Plan period, our average growth rate was around 5.5 percent. So given China's economic size and the GDP growth, keeping such a growth rate, despite all the challenges and risks, is indeed unprecedented in the history of the world economy," the official said.
China's 2021-2025 GDP growth projected to exceed 35 trillion yuan: official
China's 2021-2025 GDP growth projected to exceed 35 trillion yuan: official
