The Chinese economy surpassed 100 trillion yuan for the first time, the Wall Street Journal reported
NEW YORK / BEIJING: The Wall Street Journal, citing China as the only country to achieve “economic growth” in 2020, has revealed that the size of the Chinese economy exceeded 100 trillion yuan for the first time last year.
According to preliminary data, the value of Chinese GDP reached 101.5986 trillion yuan in 2020, an increase of 2.3 percent over 2019, the National Information Office told reporters at a press conference.
The total value of imports and exports in 2020 was 32155.7 billion yuan, an increase of 1.9% over the previous year.
Among them, the value of exports increased by 4.0% to 17932.6 billion yuan. However, imports fell 0.7 percent to 14233.1 billion yuan.
China’s amazing economic growth
RCEP The world’s largest trade bloc led by China
Seventy years of China’s development
China, what is national thinking?
In 2021, China’s growth rate will be 7.9 percent, the IMF said
Increase in indicators related to China’s industrial production
The value of imports and exports in normal trade accounted for 59.9% of total imports and exports, up 0.9% from 2019.
According to Reuters news agency, the strong and stable recovery of the Chinese economy has increased the demand for imported products.
Citing analysts, Reuters added that the impact of Code 19 on the global market is expected to increase China’s exports due to increased demand for medical products and home office products.
According to a Bloomberg report, Chinese data on imports and exports has further highlighted China’s central role in the global supply chain.