Xi: China sees historic rise in economic strength

October 16, 2022 13:33 Xinhua

BEIJING — China has seen a historic rise in its economic strength in the past decade, Xi Jinping said on Oct 16 at the opening session of the 20th National Congress of the Communist Party of China.

China’s GDP has grown from 54 trillion yuan to 114 trillion yuan (about $16 trillion) in the past decade and come to account for 18.5 percent of the world economy, up 7.2 percentage points, Xi said.

The country has remained the world’s second-largest economy, and its per capita GDP has risen from 39,800 yuan to 81,000 yuan, Xi said.

China ranks first in the world in terms of grain output, and its manufacturing sector is the largest in the world, as are its foreign exchange reserves, Xi said.