China's economy has had solid foundation and strong resilience over past 5 years

China released the results of its fifth national economic census on December 26, showing that the country's economy has had a solid foundation, strong resilience, and enormous potential over the past five years.

(Picture by CFP)

There have been five main changes and characteristics of China's economy over the past five years as reflected in the census, Kang Yi, head of the National Bureau of Statistics, said at a press conference on the census.

First, the foundation for development has become more solid. China's gross domestic product (GDP) in 2023 reached nearly 130 trillion yuan. As the world's second largest economy, the country's average contribution to global economic growth has been around 30% over the past five years, making it the largest driving force of global economic growth.

Second, the structure of the development has become better. The value added of the tertiary industry accounted for 56.3% of GDP in 2023, an increase of more than 2 percentage points over 2018.

Third, the development energy has become more adequate. By the end of 2023, the number of enterprises above the designated size engaged in strategic emerging industry activities nationwide reached 158,000, accounting for more than one-fifth of the proportion of all industries and services above the designated size.

Fourth, the guarantee of development security has become stronger. And fifth, development has become more sustainable.

In particular, the fifth national economic census has included the digital economy for the first time. By the end of 2023, China had 2.92 million enterprises in the core industries of the digital economy, employing 36.16 million people. The total annual business revenue of the core industries of the digital economy reached 48.45 trillion yuan. The digital economy has seen robust growth. (By Jia Zifan/China Youth Daily)

来源：中国青年报客户端