GDP Photo: Xinhua

China has further narrowed its gap with the world’s high-income countries in 2019, with its per capita GDP exceeding the $10,000 mark, although weak links still exist and the COVID-19 outbreak adds pressure in the country’s efforts to build all-round well-off society by 2020, the National Bureau of Statistics (NBS) announced on Friday.

The NBS on Friday released a communiqué on China's economic and social development in 2019, which suggests the world's second largest economy is well positioned to accomplish its stated goal of building a moderately prosperous society in all aspects and achieve its first centenary goal in 2020.

China’s GDP in 2019 neared 100 trillion yuan ($14.26 trillion), with per capita GDP at 70,892 yuan. Chinese economy contributed to 30 percent of world economic growth and its growth rate at 6.1 percent led world’s major economies. 

Deputy head of NBS Sheng Laiyun said China’s foreign trade has maintained its quality growth amid challenging global protectionism, unilateralism and anti-globalization. 

The utilization of foreign direct investment recorded a growth of 5.8 percent, to 941.5 billion yuan, despite slumps in global cross border investment, according to Sheng.

However, Sheng cautioned that the COVID-19 outbreak is having negative impact on people’s lives and production, and urged more efforts to be done to mitigate such impacts to accomplish goal of building a moderately prosperous society in 2020.

Global Times