ON THE UP-AND-UP

With its economic aggregate nearly doubling from 2013 to 2021, China has seen a decade of remarkable progress and has taken on a bigger role on the international stage. Throughout this period, China’s GDP expanded at an average annual rate of 6.6 percent, higher than the growth pace of 2.6 percent for the global economy and 3.7 percent for developing economies, a report from the National Bureau of Statistics (NBS) showed. Percapita GDP hit 80,976 yuan ($11,684) in 2021, up 69.7 percent from 2012—after allowing for inflation.

China’s average contribution to global economic growth exceeded 30 percent in 2013-21, ranking first in the world. The people are the greatest beneficiary of the development. Last year, per-capita disposable income reached 35,128 yuan ($4,903), up 18,618 yuan ($2,599) from 2012. It represented an annual average growth of 6.6 percent after allowing for inflation, 0.5 percentage point