(Economic Observation) What does it mean that China's GDP exceeds one hundred billion yuan?

  China News Service, Beijing, January 18 (Reporter Wang Enbo) The National Bureau of Statistics of China announced on the 18th that China’s GDP will reach 101.6 trillion yuan (RMB, the same below) in 2020 in the face of the huge impact of the epidemic and the complicated and severe domestic and foreign environment. An increase of 2.3%.

  From reaching a level of 10 trillion yuan in 2000, surpassing 50 trillion yuan in 2012, and now breaking through the one-hundred-billion yuan mark, China's economic aggregate has expanded tenfold in the past 20 years, which has at least four significance.

Data map: Haicang Container Terminal, Xiamen Port.

Photo by China News Agency reporter Wang Dongming

  First, China's economic strength has increased significantly.

  The output of more than 220 kinds of industrial products is the world's largest, and the added value of manufacturing is expected to rank first in the world for 11 consecutive years; the total operating mileage of high-speed railways has reached 38,000 kilometers, the mileage of expressways has exceeded 155,000 kilometers, and the number of 5G terminal connections has exceeded 200 million. Ranked No. 1 in the world...Behind the continuous increase in economic scale is the continuous improvement of China's social productivity.

  These solid assets have also become China's confidence in responding to the impact of the epidemic.

Since the second quarter of last year’s GDP growth rate turned from negative to positive, China’s economy has successfully achieved a “deep V” reversal and is expected to become the only major economy in the world with positive economic growth in 2020.

  Second, the foundation for improving people's livelihood is stronger.

  In 2020, the income growth of Chinese residents will basically keep pace with economic growth.

The national per capita disposable income for the whole year was 32,189 yuan, an actual increase of 2.1% after deducting price factors, and the goal of doubling the per capita income of urban and rural residents over 2010 was achieved on schedule.

  Under the epidemic, the stable economic market also firmly supports the bottom line of people's livelihood such as employment.

In December 2020, the urban surveyed unemployment rate of the 25-59 year-old employed population in China was 4.7%, returning to the level of the same period of the previous year; for the whole year, the national per capita net income from transfers increased by 8.7% year-on-year in nominal terms, indicating that the bottom line protection has been strengthened.

  Third, lay the foundation for a new development pattern.

  The key to accelerating the formation of a new development pattern in which the domestic large-scale cycle is the main body and the domestic and international double cycles promote each other is to tap the potential of domestic demand, especially consumer demand.

China has the largest population in the world and the largest middle-income group in the world. In 2020, the total retail sales of consumer goods will be close to 40 trillion yuan, the final consumption expenditure will exceed 55 trillion yuan, and the total capital formation will be close to 45 trillion yuan. There are a series of positive factors. Helping to further develop the advantages of the super-large market.

  Some analysts pointed out that with demand-side management being put on the agenda, China is entering a new era in the development of domestic demand, which will become a key driving force for China's economic development in the future, and an important force to boost global economic growth.

  Fourth, it has increased its contribution to the world economy.

  According to Ning Jizhe, Director of the National Bureau of Statistics, according to the current estimated annual average exchange rate, China's GDP in 2020 will be about 14.7 trillion US dollars, ranking second in the world, accounting for about 17% of the world economy.

China's per capita GDP has exceeded US$10,000 for two consecutive years, and it has been among upper-middle-income countries, and the development gap with high-income countries has continued to narrow.

  During the epidemic, China's complete industrial system and unobstructed logistics system met the needs of many countries for epidemic prevention products, home living and office supplies, and contributed to the global response to the epidemic and economic recovery.

  Today, the total GDP has exceeded one hundred billion yuan, and the per capita GDP has exceeded 10,000 US dollars. Many people think that the Chinese economy has "grew up."

But at this moment, the Chinese economy needs to recognize where it is.

  It must be noted that China is still the world's largest developing country, and its per capita GDP is still slightly lower than the world average, and there is still a big gap compared with major developed countries.

The basic national conditions of China in the primary stage of socialism have not changed, the problem of unbalanced and insufficient development is still prominent, the gap in development between urban and rural areas is still relatively large, and the ability to innovate still does not meet the requirements of high-quality development.

  Looking forward to 2021, the epidemic prevention and control situation is still the main variable affecting the global economic recovery process. There are still many unstable and uncertain factors in the international environment. China will inevitably face "growth troubles."

  What is certain is that China will consolidate and expand the results of epidemic prevention and control and economic and social development, continue to promote the continued economic growth of quality and efficiency, and strive for new breakthroughs on a higher level.