Release time:

2025-01-31

"In 2024, China's total economic output reached 134.9 trillion yuan, marking the first time it has surpassed 130 trillion yuan, with a growth of 5% compared to the previous year." Recently, the National Bureau of Statistics announced the economic performance of the country for 2024. The breakthrough of 130 trillion yuan in China's total economic output signifies a more solid economic foundation, a stronger advantage of a super-large market and a complete industrial system, and a continued positive contribution to global prosperity and development. Xinhua News Agency reported by Meng Lijing and Fang Dongxu. In 1952, China's GDP was only 67.9 billion yuan. After the reform and opening up, China's economy developed rapidly, with the total economic output surpassing 1 trillion yuan in 1986, 10 trillion yuan in 2000, and exceeding Japan in 2010 to become the world's second-largest economy. Entering a new era, China's economic strength has continued to grow, with the total economic output doubling, standing at a new and higher historical starting point. Looking at the timeline, in 2014, 2016, 2017, 2018, 2020, and 2021, China's total economic output successively crossed the thresholds of 60 trillion yuan, 70 trillion yuan, 80 trillion yuan, 90 trillion yuan, 100 trillion yuan, and 110 trillion yuan, breaking through 120 trillion yuan in 2022 and surpassing 130 trillion yuan in 2024. The breakthrough of 130 trillion yuan in China's total economic output means that the country's economic strength, technological strength, and comprehensive national power have reached a new level. It indicates that the foundation for development is more solid, the conditions are better, the driving force is stronger, and the ability to resist risks is enhanced. It also signifies that China has made new important contributions to global development. This can be viewed from the following aspects: First, China's economic foundation is more solid. Since the 18th National Congress of the Communist Party, China's total economic output has basically surpassed a 10 trillion yuan threshold every 1 to 2 years. The total economic output broke through 100 trillion yuan in 2020, followed by 110 trillion yuan in 2021 and 120 trillion yuan in 2022, and by 2024, it exceeded 130 trillion yuan, achieving a historic leap from over 50 trillion yuan to over 130 trillion yuan in just over a decade, significantly enhancing comprehensive national power. In 2024, the economic increment of China is equivalent to the annual economic volume of a medium-sized country. The level of social productivity has significantly improved, with the added value of the secondary and tertiary industries reaching 49.2 trillion yuan and 76.6 trillion yuan, respectively. The production of new energy vehicles exceeded 13 million units, and the annual production of mobile phones surpassed 1.6 billion units, maintaining China's position as the world's largest manufacturing country. Second, the advantages of China's super-large market and complete industrial system are further consolidated. In the face of unprecedented global changes and increasing external instability and uncertainty, a strong economic foundation, the advantages of a super-large market, and a complete industrial system remain our greatest confidence in responding to risks and challenges. In 2024, China's total retail sales of consumer goods and fixed asset investment reached 48.8 trillion yuan and 51.4 trillion yuan, respectively. The role of domestic demand as the main driving force continues to be realized. China's goods trade, foreign exchange reserves, and manufacturing scale rank first in the world, while the scale of service trade and domestic consumption market ranks second. The capacity for food and energy security has been consolidated and improved, and new infrastructure such as 5G, computing power, and energy storage is being rapidly deployed. The strong chain and supplementary chain in manufacturing are being solidly advanced, and the foundation for safe development is being consolidated. Third, China continues to make positive contributions to global prosperity and development. Over the years, China's annual contribution rate to global economic growth has been around 30%, making it the largest driving force for global economic growth. China is unwavering in promoting high-level opening up, introducing more autonomous and unilateral opening policies, expanding a high-standard free trade zone network aimed at the world, and maintaining its position as the second-largest import market for several consecutive years. In 2024, the scale of goods imports reached 2.6 trillion US dollars, providing new opportunities for open cooperation in the global market. At the same time, we must also be clear that China is still the largest developing country in the world, with a significant gap in per capita GDP compared to developed countries. Issues of unbalanced and insufficient development are still prominent, and achieving the long-term goals set for 2035 will require tremendous effort. Furthermore, while continuously achieving growth in total economic output, we must also accelerate the cultivation of new productive forces, continuously optimize the economic structure, promote coordinated regional development, and ensure that all people better share the fruits of reform and development. On the new journey in the new era, we must fully, accurately, and comprehensively implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, and strive to advance steadily towards the goal of Chinese-style modernization.