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Economy

China's economic development since 2012

June 19, 2017


Abstract : The National Bureau of Statistics released a report Friday on China's economic achievements since the 18th National Congress of the Communist Party of China held in late 2012.

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BEIJING, June 17 (Xinhua) -- The National Bureau of Statistics released a report Friday on China's economic achievements since the 18th National Congress of the Communist Party of China held in late 2012.

The following are facts and figures from the report:

-- GDP expanded by an average annual rate of 7.2 percent during 2013-2016, compared with 2.5 percent average global growth and 4 percent growth of developing economies.

-- Calculated at constant prices, the 2016 GDP rose 32 percent from 2012.

-- The proportion of China's GDP in world economy stood at about 15 percent in 2016, up more than 3 percentage points from 2012.

-- China's average contribution to world growth in 2013-2016 was more than 30 percent, the largest among all countries and higher than the total contribution from the United States, the eurozone and Japan.

-- GDP per capita reached 53,980 yuan (7,939 U.S. dollars) in 2016, up 29 percent from 2012 after adjusting for inflation, representing an average annual growth of 6.6 percent.

-- Gross national income (GNI) per capita rose from 5,940 dollars in 2012 to more than 8,000 dollars in 2016. China's per-capita GNI ranking advanced from the 112th in 2012, to 96th in 2015, World Bank data showed.

-- From 2013 to 2016, the service industry grew by an annual rate of 8 percent. The share of service output in GDP rose from 45.3 percent in 2012, to 51.6 percent in 2016.

-- The contribution of final consumption to economic growth rose from 47 percent in 2013, to 64.6 percent in 2016.

-- The ratio of permanent urban residents to total population stood at 57.35 percent at the end of 2016, up from 52.57 percent at the end of 2012.

-- Research and development (R&D) expenditure rose 50.5 percent from 2012 to 1.55 trillion yuan in 2016. The share of R&D spending in GDP rose from 1.91 percent to 2.08 percent in the same period.

-- Grain production reached 621.44 million tonnes in 2015, rising for a 12th consecutive year. Output in 2016 dropped slightly to a second highest in history of 616.25 million tonnes.

-- China had 124,000 km of railways in operation at the end of 2016, up from 98,000 km at the end of 2012, and the length of high-speed rail in operation rose from less than 10,000 km to more than 22,000 km, the world's longest.

-- The value of service trade was 657.5 billion dollars, up 36.7 percent from 2012, representing an average annual growth of 8.1 percent.

-- Foreign direct investment rose by an annual rate of 3.1 percent to 489.4 billion U.S. dollars in 2013-2016.

-- The number of rural people living in poverty dropped to 43.35 million last year, from 98.99 million in 2012.

-- From 2012 to 2016, energy and water use per unit of GDP dropped 17.9 percent and 25.4 percent, respectively.

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Keyword: economy

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