China's GDP records a 3% increase in 2022, recoding multiple new highs: NBS

2023-02-28 13:09:48Global Times Editor : Li Yan ECNS App Download

China's gross domestic product (GDP) in 2022 was 121.02 trillion yuan ($17.45 trillion) in 2022, an increase of 3.0 percent over 2021 at constant prices, with multiple figures reaching historical highs, the National Bureau of Statistics (NBS) revealed on Tuesday.

The added value of the domestic primary industry, secondary industry and tertiary industry recorded a year-on-year increase of 4.1 percent, 3.8 percent and 2.3 percent to 8.83 trillion yuan, 48.32 trillion yuan and 63.87 trillion yuan, respectively, according to the NBS.

The annual GDP per capita reached 85,698 yuan, up 3.0 percent compared with the previous year.

China's economic growth rate led the world among major economies while the total economic volume continued expanding thanks to the firm government support amid uncertainties caused by the COVID-19 epidemic and unexpected factors, Sheng Laiyun, a deputy director of the NBS, said in a statement released on the bureau's website.

Sheng stressed that the nation's GDP exceeded 120 billion yuan after 2020 and 2021, reaching a new level. The economic aggregate reached $18 trillion converted at the average annual exchange rate, ranking second in the world. The GDP per capita was $12,741 at the average annual exchange rate, continuing to remain above $12,000.

Meanwhile, the total industrial added value for all industries exceeded 40 trillion yuan for the first time in 2022. The added value of the manufacturing sector reached 33.5 trillion yuan, proving that China continued to maintain its status as the world's leading manufacturing hub.

The NBS noted that 734 million new jobs were created at the end of 2022, with 459 million urban jobs being offered, accounting for 62.6 percent of the total number of employed people nationwide.

Sheng noted that China's consumer price and employment remained overall stable in 2022. A total of 12.06 million new jobs were created in urban areas, exceeding the set target of 11 million.

The monthly increase of the consumer price index had remained under 3 percent and only grew by 2 percent last year, significantly lower than 8 percent of the US, 8.4 percent of the EU and 9.1 percent of the UK, forming a sharp contrast with global inflation.

Besides, China ramps up efforts to further promote high-quality opening-up in 2022, with fruitful achievements obtained.

For instance, the total imports and exports of goods reached 42.1 trillion yuan, exceeding the 40 trillion-yuan mark for the first time, up 7.7 percent year-on-year.

The construction of the China-proposed Belt and Road Initiative (BRI) continues to boom. China's import and export volume for BRI members recorded a historical high of 13.8 trillion yuan, up 19.4 percent year-on-year.

Speaking of future development, Sheng noted that China has a strong resilience in economic development with huge and vigorous potential while all factors supporting high-quality development remain unchanged. Despite the uncertainties resulting from complex external factors, China has the basis, confidence and capability to withstand various challenges.


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