China contributes over 30pc to world economic growth in 2013-2021

BEIJING – China’s average contribution to global economic growth exceeded 30 percent over the period 2013-2021, ranking first in the world, a recent report showed.

In 2021 alone, China’s economic aggregate accounted for 18.5 percent of the global economy after currency conversion based on average annual exchange rates, the second largest in the world and up 7.2 percentage points from 2012, according to the report released by the National Bureau of Statistics.

China’s gross domestic product (GDP) grew at a compound annual growth rate of 6.6 percent from 2013 to 2021, faster than the growth pace of 2.6 percent for the global economy and 3.7 percent for developing countries.

The country’s GDP per capita reached 80,976 yuan (about US$11,684) last year, up 69.7 percent from 2012 after adjusting for the price factor.

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The report highlighted China’s progress in promoting innovation-led development over the past decade. The country rose to 12th place in the 2021 Global Innovation Index, up from 34th place in 2012, according to the World Intellectual Property Organization.

Over the past decade, China has experienced better economic structure and more coordinated growth, as consumer spending contributed 65.4 percent to the 2021 economic expansion. It is up 10 percentage points from 2012, and value added in manufacturing increased by 74.3 percent over the same period. On the front line of green development, China’s accumulated afforestation area from 2013 to 2021 was about 59.44 million hectares.

The report also showed that the total value of China’s trade in goods and services reached US$6.9 trillion in 2021, remaining the world’s top.

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China has also pursued more inclusive growth aimed at making achievements that benefit all. From 2013 to 2020, China lifted 98.99 million rural residents living below the current poverty line out of poverty, she added.

China’s PC sales increase by 10.2 units in August

China’s personal computer (PC) sales to consumers surged in August, boosted by rising demand, an industry report showed.

China’s consumer PC sales reached 2.69 million units in August, up 10.2 percent year-on-year, according to the report by global market research firm International Data Corporation. Laptop sales were particularly robust during the back-to-school shopping season, rising 18.4 percent year-on-year. However, PC sales for commercial use fell 4.1 percent year-on-year to 4.97 million units.

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Stamp duty in China

Revenue increased in January-August

China’s stamp tax revenue rose 4.1 percent year on year to 318.8 billion yuan (about 46 billion U.S. dollars) in the first eight months of this year, official data showed.

According to the Treasury Ministry, stamp duty revenue from stock trading rose 3.9 percent year on year to 206.9 billion yuan during the period. The data also showed that China’s tax revenue rose 3.7 percent year on year in the first eight months of this year. The country’s tax revenue was about 13.8 trillion yuan during the period, the data showed.

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