Global economic growth: China contributes with 30 percent

04/06/2018

The National Bureau of Statistics has published the data of world economic growth for the year 2017

 

The National Bureau of Statistics of the People’s Republic of China or NBS is an agency directly under the State Council of the People’s Republic of China charged with the collection and publication of statistics related to the economy, population and society of the People’s Republic of China.

As reported by Chinanews.com, according to the National Bureau of Statistics, China contributed more than 30 percent to world economic growth during 2017. According to the data, the country’s economy totalled 82.7 trillion yuan in 2017, expanding 6.9 percent.

In particular, China has achieved many of its goals as cutting overcapacity, reducing excess inventory, deleveraging, lowering costs and strengthening areas of weakness.

For examples, the usage efficiency of industrial production capacity reached 77 percent and the area of unsold housing by the end of 2017 was reduced by 111 million square meters.

 

In 2017 the investment in high-tech industries was up 15.9 percent from 2016

 

The new path of China is evident. Suffice it to say that in 2017 new energy vehicles increased by 52%, industrial robots by 81% and 67% more unmanned aerial vehicles for civilian purposes were built.

In 2017, outbound investment by domestic companies in the sector totaled $120.1 billion and foreign direct investment in the Chinese mainland hit $131 billion.

 

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