The best way to understand the changes in China's development in the new era is by looking at the real data.
Since the new era began, over 1.4 billion Chinese people have united in their endeavors and pursued progress with determination. China's economic and social development has made historic achievements and undergone transformative changes.
From 2013 to 2022, the Gross Domestic Product (GDP) increased from 59.3 trillion yuan to 121 trillion yuan, maintaining an average annual growth of over 6 percent. At the annual average exchange rate, the total economic volume reached $18 trillion, firmly securing second position globally. Per capita GDP increased from 43,497 yuan to 85,698 yuan.
Over the past decade, China has continuously showcased its role as a "stabilizer" and "engine" for the global economy. China's total economic output's proportion to the world economy has risen from 12.3 percent to over 18 percent, contributing to an annual average growth rate of over 30 percent to the global economy.
The country's consumer market, which is underpinned by a population of over 1.4 billion and an expanding middle-income group that exceeds 400 million, will continue to power the country's economic growth and attract businesses from all over the world. In the next 15 years, the country's middle-income group is expected to exceed 800 million, further driving the development of an enormous market.
From 2013 to 2022, China's total retail sales of consumer goods surged from 23.8 trillion yuan to 44 trillion yuan, consistently maintaining its position as the world's second-largest consumer market, the largest online retail market, and the second-largest import market globally.
With over 1.4 billion people and the world's largest middle-income group, China's economic confidence in overcoming challenges and advancing in its new journey lies in its foundation - focusing on the domestic market, expanding domestic demand, and ensuring smooth circulation.
(Meng Yufei, as an intern, also contributed to this video.)
