China’s development has been accelerating since 2012 and in the process is becoming more equitable, sustainable and secure. According to Zhao Chenxin, Vice Minister of the National Development and Reform Commission (NDRC), the nation’s economic, scientific and technological strength has increased, as has its global influence.
At a press conference on June 28, Zhao attributed the progress over the last decade to the push for high-quality development. In 2021, China’s GDP increased to 114.4 trillion yuan ($17.05 trillion), 18 percent of the world’s total, from 53.9 trillion yuan ($8.03 trillion), 11.3 percent, in 2012. Per-capita GDP rose to more than $12,000 from $6,300 during this period.
A more open economy
Since 2012, China’s market economy has made new progress as reforms have been made to stimulate the vitality of market…
