Categorized | China

China Contributed 30% to Global Economic Growth in 2017

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  • Xi Jinping speaks as China
    Xi Jinping speaks as China’s new Politburo Standing Committee members meet with the press at the Great Hall of the People. | Photo: Reuters.
The Asian country saw economic growth of 6.9 percent last year.

China contributed 30 percent to global economic growth in 2017, well above the United States, the European Union and Japan, said a report from the National Bureau of Statistics Wednesday.

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The Asian country saw economic growth of 6.9 percent last year.

China was also commended for its efforts to protect the environment through energy-saving and use of renewable energy sources. In addition, its One Belt, One Road initiative is increasingly being seen as a positive force, when compared to the interventionist policies of the West. Finally, Chinese President Xi Jinping‘s cornerstone policy of eradicating poverty in China by 2020 was also highlighted.

The data of the Bureau was revalidated by the World Bank, which showed that between 2012 and 2016, China’s economic growth far surpassed that of the United States, the European Union and Japan, indeed.

In addition, last year China saw an increase in sales of consumer products of 10.2 percent and an increase of 6.6 percent in industrial production.

Its foreign trade closed with an upsurge in exports and imports of 7.9 and 15.9 percent, respectively, while direct foreign investment was 7.9 percent higher.

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