China's economy maintained an average annual growth rate of 5.5 percent from 2021 to 2024, with domestic demand contributing an average of 86.4 percent to overall economic growth, an official of the National Development and Reform Commission (NDRC) said on Wednesday.
Speaking at a press conference in Beijing, Yuan Da, secretary general of the NDRC, stressed that a strong domestic market plays an important role in stabilizing the improving Chinese economy.
"From 2021 to 2024, final consumption contributed an average of 56.2 percent to China's economic growth, an increase of 8.6 percentage points compared to the 13th Five-Year Plan period (2016-2020). New products, new business forms and new models keep emerging in the consumption sector. During the period, the average contribution rate of capital accumulation through investment to China's economic growth amounted to 30.2 percent. The growth rate of investment in high-tech industries has consistently outpaced the overall investment growth rate for many years, and many major national scientific research infrastructure facilities have been completed. More attention has been paid to enhancing people's well-being. For instance, in the same period, about 7.8 million units of various types of affordable housing had been initiated, lifting over 20 million people out of their housing problems," said Yuan.
Domestic demand averages 86.4 pct of China's economic growth from 2021-2024
UN Secretary-General Antonio Guterres has called on the organization's member states to respect international law in response to U.S. President Donald Trump's latest remarks that he doesn't need international law.
Stephane Dujarric, spokesman for the secretary-general, said at a press conference on Friday that the UN chief's reaction to Trump's remarks "is to redouble his message to all member states to respect the international law they themselves created".
In an interview with The New York Times on Wednesday, Trump declared that his global power is constrained only by his "own morality", saying it's the only thing that can stop him.
When asked whether his administration needs to abide by international law, Trump said he would be the arbiter when such constraints applied to the United States.
"It depends what your definition of international law is," he said.
The New York Times report said Trump's assessment of his own freedom to use any instrument of military, economic or political power to cement American supremacy was the most blunt acknowledgment yet of his worldview. At its core is the concept that national strength, rather than laws, treaties and conventions, should be the deciding factor as powers collide.
The United States launched a large-scale military operation against Venezuela in the early hours of Jan 3, taking by force Venezuelan President Nicolas Maduro and his wife.
Maduro made his first court appearance on Jan 5 in New York, during which he pleaded not guilty to all U.S. charges.
Amid tensions with Venezuela, Trump has claimed the United States absolutely needs Greenland, saying he might try "hard ways" to take over the island, which has a strategically critical position and rich resources.
The latest U.S. moves have drawn worldwide condemnation for its violation of Venezuela's sovereignty and territorial integrity, and international law.
UN chief calls for respect for international law in response to Trump’s remarks
