National Bureau of Statistics: China's Economic Volume Approaches the Combined Total of the World's Third to Seventh Largest Economies

06/02 11:00

On June 2, the National Bureau of Statistics released a series of reports on the achievements of economic and social development during the 14th Five-Year Plan period. The reports indicate that during this period, China's Gross Domestic Product (GDP) achieved a 'four consecutive jumps', reaching new milestones of 110 trillion yuan, 120 trillion yuan, 130 trillion yuan, and 140 trillion yuan, with a cumulative increase of over 36 trillion yuan, equivalent to the annual economic output of the world's third-largest economy. By 2025, China's economic volume is expected to reach 140.2 trillion yuan, nearing the combined total of the world's third to seventh largest economies. Over the past five years, China has been a 'contributor' to global economic growth and the strongest 'stabilizing anchor'. In terms of growth rate, during the 14th Five-Year Plan period, China's economy grew at an average annual rate of 5.4%, significantly higher than the global growth rate of around 3.7%, ranking among the top in major economies. China's per capita GDP rose from $10,632 in 2020 to $13,953 in 2025, exceeding $13,000 for three consecutive years. The report cites World Bank data stating that in 2021, China's per capita Gross National Income (GNI) was $12,220, surpassing the world average for the first time, and exceeding it by $25.9. By 2024, China's per capita GNI is expected to reach $13,660, a 27.2% increase from 2020. In the World Bank's ranking of per capita GNI, China is projected to rank 76th out of 201 economies in 2024, becoming the top among upper-middle-income countries.
bullishbullishbullishBullishbearishbearishbearishBearishLikeShare
DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

All Comments0LatestHot

avatar
LatestHot