Daily Times

China’s economy has taken the lead among major economies over recent years, remaining a significant engine fueling global economic growth, an official with the country’s top economic planner said Wednesday.From 2020 to 2022, China’s economy posted an annual average growth of 4.5 percent, higher than the world level of around 2 percent, Yuan Da, director of the Department of National Economy of the National Development and Reform Commission (NDRC), told a press conference. The National Bureau of Statistics on Tuesday reported that China’s economy grew 3 percent to a record high of 121 trillion yuan (about 18 trillion U.S. dollars) in 2022. “The achievement has been made amid repeated shocks of multiple unexpected factors,” said NDRC official Jin Xiandong. Jin noted that the increment of China’s economy from 2021 to 2022 was 6.1 trillion yuan, which is a large amount and equals the economic aggregate of a medium-sized country. Citing unchanged fundamentals underpinning China’s long-term economic growth and increased positive factors prompting the overall economic turnaround, Yuan said China has the confidence, conditions, and ability to further promote its overall economic growth in 2023.