Chinese Economy Grows 5 Percent Annual Average in 5.2 Years

Gin Economy Growth Average Percent Annually
Chinese Economy Grows 5 Percent Annual Average in 5.2 Years

📩 06/03/2023 12:05

Chinese Premier Li Keqiang presented the Government Working Report at the 14st Meeting of the 1th National People's Assembly. Li Keqiang stated that in 2022, the Chinese economy has achieved stable growth, the quality of development has increased, social stability has been preserved, and new achievements have been achieved in China's development, which is not easy.

Recalling that last year, China's economic growth faced pressures brought by many unexpected domestic and foreign factors as well as COVID-19, Li noted that under the leadership of the CCP Central Committee, economic and social developments were advanced while the epidemic was brought under control, and epidemic prevention measures were improved.

Prime Minister Li reminded that the Chinese economy grew by 3 percent last year, the unemployment rate in the country decreased to 5,5 percent and the CPI was recorded as 2 percent, while reaching the annual development targets set for the Chinese economy in a complex and volatile environment, while maintaining a strong economy. underlined his resistance.

Reminding that China's GDP has reached 121 trillion yuan, Li stated that the average annual growth rate in the last five years has reached 5,2 percent. "China's GDP has increased by about 70 trillion yuan in the past ten years, and the annual average growth rate has reached 6,2 percent," said Li, adding that while the reform and opening-up practices in the country continued in the last 5 years, the joint construction of the Belt and Road He stated that China's foreign trade volume has exceeded 40 trillion yuan.

In the report, which draws attention to the fact that China continues to rank first in the world in terms of foreign capital attracted and foreign investments, it was noted that fruitful results were obtained in areas such as fighting poverty, scientific and technological innovation and improving the ecological environment.

The growth target for 2023 is around 5 percent.

Chinese Premier Li Keqiang announced that the growth target of the Chinese economy this year is set to be around 5 percent. In the report, the target of creating 2023 million new jobs in cities and towns and reducing the registered unemployment rate in cities and towns to 12 percent in 5,5 was also set.

Li also stated that they will work to maintain the Consumer Price Index (CPI) at 2023 percent in 3 and to keep the income growth of the people at the same level as economic growth. Prime Minister Li said that while the stability in foreign trade is preserved and the quality of foreign trade is increased, the balance of payments will also be preserved, and that grain production will be kept above 650 million tons and the ecological environment will be improved.