China’s GDP grew from 54 to 80 trillion yuan in five years

Almaty. October 19. Silkroadnews – China’s GDP grew from 54 trillion to 80 trillion yuan in five years, Xinhua news agency reported.
“China’s GDP rose from 54 trillion to 80 trillion yuan (about $12.1 trillion) over the past five years, Xi Jinping said Wednesday in a report to the 19th National Congress of the Communist Party of China,” the report said.
“The economy has maintained a medium-high growth rate, making China a leader among the major economies,” the agency quoted saying by China’s president.
According to him, China has maintained its position as the world’s second largest economy, with more than 30% contribution to the world economic growth. The five years also saw agricultural modernization steadily advance, with annual grain production reaching 600 million metric tonnes.
Xi Jinping also touched on the level of the country’s urbanization, which has increased by an average of 1.2%, with more than 80 million people who moved from rural to urban areas for permanent urban residency.
“The new institutions of the open economy have been steadily improved. China now leads the world in trade, outbound investment, and foreign exchange reserves,” he said.
It is reported that the rapid growth of GDP is one of the major economic achievements under the leadership of the Communist Party of China for five years after the 18th National Congress of the CPC.