Reporter of the Economic Business: Li Keyu Editor of the Economic Business Business: Chen, Xing
Looking back on ten years, my country's economy has delivered a brilliant report card.
The "Resolution of the Central Committee of the Communist Party of China on the Major Achievements and Historical Experience of the Centennial Struggle of the Party" released to the public in 2021 pointed out that since the 18th National Congress of the Communist Party of China, the balance, coordination and sustainability of my country's economic development have been significantly enhanced. The GDP of has exceeded one trillion yuan, and the per capita GDP of exceeds 10,000 US dollars. The country's economic strength, scientific and technological strength, and comprehensive national strength have reached a new level. my country's economy has embarked on a path of higher quality, more efficient, fairer, more sustainable and safer development.
Xinhua News Agency Figure
From the key economic indicators, over the past decade, my country's total economic output has increased from 53.9 trillion yuan in 2012 to 114.4 trillion yuan in 2021, accounting for more than 18%, and the per capita GDP has increased from US$6,300 to more than US$12,000.
At the same time, my country's economy's share in the global market has steadily increased, and its international influence has been increasing day by day. From 2013 to 2021, my country's average contribution rate to world economic growth exceeded 30%, ranking first in the world.
As the world's second largest economy, the second largest consumer market, the largest manufacturing country, the largest trade in goods, and the largest foreign exchange reserve country, China's position in the global economic territory has been further consolidated and enhanced.
China's economic strength has reached a new level
In the past ten years since the 18th National Congress of the Communist Party of China, my country's economic strength has reached a new level. In the process of shifting to the high-quality development of , we have continuously innovated and improved macro-control , and economic development has not only maintained reasonable quantitative growth, but also achieved steady qualitative improvement.
The total economic output has reached a new level. From 2013 to 2021, my country's GDP grew by an average of 6.6% per year, higher than the average growth level of 2.6% in the world and 3.7% in developing economies during the same period. In 2014, 2016, 2017, 2018 and 2020, the GDP successively exceeded 60, 70, 80, 90 and 100 trillion yuan, and exceeded 110 trillion yuan in 2021, reaching 114.4 trillion yuan, which is 1.8 times that of 2012 at the constant price.
my country's economy's share of the global economy has steadily increased, and its international influence has been increasing day by day. Based on the annual average exchange rate, the proportion of my country's total economic output in 2021 reached 18.5%, an increase of 7.2 percentage points from 2012, ranking second in the world. From 2013 to 2021, my country's average contribution rate to world economic growth exceeded 30%, ranking first in the world.
per capita GDP achieves a new breakthrough. In 2021, my country's per capita GDP reached 80,976 yuan. After deducting price factors, it increased by 69.7% over 2012, with an average annual growth of 6.1%; it was converted at an average annual exchange rate of US$12,551, exceeding US$10,000 for three consecutive years, firmly ranking among middle-income countries, close to the threshold for high-income countries divided by the World Bank .
foreign exchange reserves firmly rank first in the world. The overall pattern of independent balance of payments has been basically formed, cross-border capital flows are relatively balanced, and foreign exchange reserves are generally stable. Since the 18th National Congress of the Communist Party of China, my country's foreign exchange reserves have been stable at more than US$3 trillion, reaching US$325.02 billion at the end of 2021, ranking first in the world. Against the backdrop of complex and severe external situation and rising uncertainty, the huge and stable scale of foreign exchange reserves provides strong guarantee for my country's economy to resist external risks and shocks.
Development achievements benefit more to all people
This decade is not only a decade in which my country's economic strength has been greatly improved and its comprehensive national strength and international influence has been significantly enhanced, but also a decade in which development achievements benefit more to all people.
In 2021, the per capita disposable income of residents in the country was 335,128 yuan, an increase of 18,618 yuan over 2012, with an average annual actual growth of 6.6%, which was 0.5 percentage points faster than the average annual growth rate of per capita GDP in the same period. The consumption level of residents is constantly improving. In 2021, the per capita consumption expenditure of residents nationwide was 24,100 yuan, an increase of 12,046 yuan over 2012, with an average annual actual growth of 5.9%.
The trend of upgrading residents' consumption is obvious. In 2021, the Engel coefficient of national residents was 29.8%, a decrease of 3.2 percentage points from 2012; the number of household cars and mobile phones per 100 households in the country was 41.8 and 259.1 units, respectively, an increase of 147.3% and 27.5% from 2013.
In the past decade, my country's employment quality has improved significantly, with an average annual increase of more than 13 million new urban jobs.The education industry is booming, and the average number of years of education for the working-age population has reached 10.9 years, moving from a big human resources country to a strong human resources country.
The level of equalization of basic medical public services in urban and rural areas has been continuously improved, the average life expectancy ranks among the forefront of middle- and high-income countries, and the public service system for national fitness is basically established. Social security benefits all people, and the bottom-line guarantee network for people's livelihood is further strengthened.
Poverty alleviation achieved a comprehensive victory. Under the current standards, all 98.99 million rural poor people were lifted out of poverty, creating a miracle in the history of human poverty reduction.
Executive Director of China Enterprise Research Institute Li Jin analyzed in a written interview with a reporter from " Daily Economic News " that over the past 10 years, my country's journey of overcoming various risks and challenges can be seen from the five keywords of " three-phase superposition ", "new normal", " supply-side structural reform ", "high-quality development" and "new development pattern of dual circulation".
The strong "family foundation" accumulated by the country's development over the past decade has also made sufficient preparations for us to cope with the current complex and severe situation.
On July 15 this year, Fu Linghui, spokesperson of the National Bureau of Statistics, said at a press conference of the State Information Office: "The economy of a big country is resilient."
He introduced that although the epidemic has caused a major impact on the economy, my country's economic scale is still considerable, and the long-term accumulation of strong material foundation and super-large market size advantages are obvious. The total economic output in the first half of the year reached 56 trillion yuan, of which the added value of industrial was close to 20 trillion yuan, the added value of the service industry exceeded 30 trillion yuan, the total amount of fixed asset investment in exceeded 27 trillion yuan, and although the total retail sales of consumer goods decreased, it still exceeded 21 trillion yuan. All these have increased our confidence and confidence in dealing with various risks and challenges.
Chen Weidong, head of the China Economic and Financial Research Group of the China Banking Institute, also pointed out that China's economy will face spillover risks such as weakening foreign demand, turmoil in global financial markets, and geopolitical conflicts, but the long-term positive potential and fundamentals of China's economy have not changed. China's economy has a solid foundation for stable operation. fiscal deficit ratio is less than 3%, monetary policy is in the normal range, and macro policy still has a lot of room.
The business environment has been greatly optimized
The decade since the 18th National Congress of the Communist Party of China has been a decade in which the whole country is determined to advance reform.
The "Decision of the Central Committee of the Communist Party of China on Several Major Issues Concerning Comprehensively Deepening Reforms" adopted by the Third Plenary Session of the 18th Central Committee of the Communist Party of China clearly states that we will focus on deepening economic system reforms by focusing on making the market play a decisive role in resource allocation, adhere to and improve the basic economic system of , accelerate the improvement of the modern market system, macro-control system, and open economic system, accelerate the transformation of economic development mode, accelerate the construction of an innovative country, and promote more efficient, fairer and more sustainable economic development.
The report of the 19th National Congress of the Communist Party of China further pointed out that my country's economy has shifted from a stage of high-speed growth to a stage of high-quality development, and is in a critical period of changing the development model, optimizing the economic structure, and transforming growth momentum. building a modern economic system is an urgent requirement to cross the barrier and a strategic goal of my country's development.
must adhere to quality first and efficiency first, take supply-side structural reform as the main line, promote quality, efficiency and driving force changes in economic development, improve total factor productivity, , , strive to accelerate the construction of an industrial system with coordinated development of the real economy, scientific and technological innovation, modern finance, and human resources, and strive to build an economic system with effective market mechanism, dynamic micro-subjects, and moderate macro-control, and continuously enhance my country's economic innovation and competitiveness.
data shows that has achieved remarkable results in comprehensive deepening of reforms in . In the past decade, the development environment of non-public economy has been continuously optimized, and the number of private enterprises in my country has quadrupled, from 10.85 million to 44.57 million; the improvement of the factor market system with price market decisions, independent and orderly flow, and efficient and fair allocation has formed a strong domestic demand market with an economic total of more than 100 trillion yuan, a population of 1.4 billion, and about 400 million middle-income groups.
In addition, my country has deepened the streamlining of administration, delegating power, combining regulation and optimization of services, and issued the " Regulations on Optimizing the Business Environment ". Deepen the reform of the administrative approval system of and significantly reduce administrative approval matters. my country's business environment has been greatly optimized, and the global ranking has jumped from 96th in 2013 to the latest 31st. Coordinate the construction of 21 free trade pilot zones and replicate and promote more than 260 institutional innovation achievements.
Faced with the current more complex international and domestic situation, the importance of further deepening reforms and stimulating economic and social vitality has been further emphasized.
On July 28, 2022, the Political Bureau of the CPC Central Committee held a meeting, emphasizing that "reform and opening up should be used as the driving force for economic development."
reporter noticed that through reform, ensuring and protecting the vast number of market entities has become an important tool to deal with the current complex situation.
htmlThe State Council Executive Meeting held on August 31 pointed out that reform is an extremely important tool in the policy toolbox. We must insist on using reform to activate vitality and further reduce the institutional transaction costs of market entities . It mainly includes in-depth rectification of illegal charges involving enterprises, strictly demarcate power boundaries, and severely investigate and punish acts such as random fines and excessive taxes and fees. Implement a one-time license for industrial production of similar products. Strengthen supervision, crack down on counterfeit and shoddy products, and maintain fair competition. Improve the mechanism for collecting and handling clues in business environment problems.Yang Chang, chief economist of the Institute of Public Policy and Governance of Shanghai University of Finance and Economics, told the reporter of "Daily Economic News" through WeChat that for a long time, the business environment has been the focus of my country's policies. The outline of the "14th Five-Year Plan" clearly proposes to build a first-class business environment, continuously optimize the market-oriented, legal and international business environment, and improve the business environment evaluation system. The subsequent incremental policies may also focus on improving the administrative efficiency of small and medium-sized enterprises and meeting the needs of small and medium-sized enterprises as soon as possible.
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