According to statistics released by China’s National Bureau of Statistics on January 17, the Chinese economy grew by 3 percent year on year to a record high of 121 trillion yuan (about 18 trillion dollars) in 2022, after successive achievements of 100 trillion yuan and 110 trillion yuan, respectively in 2020 and 2021, to be the fastest growing economy out of most major economies in the world.
The continuous rise in China’s total gross domestic product and the increase in per capita income indicate the country’s progress in comprehensive productive strength.
The Financial Times indicated that the return of pent-up consumer and investment activity in China will support global demand.
She stated that China is not only witnessing an increase in its economic size, but also an improvement in economic quality.
Since last year, the country has made economic stability a top priority and continues to make progress in this regard.
The added value of high-tech manufacturing firms increased by 7.4% in 2022, 3.8 percentage points higher than all firms.
Investment in the high-tech manufacturing and high-tech service sectors increased by 22.2 percent and 12.1 percent, respectively.
In particular, investment in the manufacture of electronic and communications equipment increased by about 30%.