Beijing logs heft economic progress
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CHINESE President Xi Jinping has said that his country’s Gross Domestic Product has grown by more than a whopping four trillion US dollars in the past five years.

Speaking during the official opening of the 19th National Party Congress of the ruling Communist Party of China, CPC, on Wednesday, the Chinese leader pointed out that the second largest economy in the world had shown great signs of recovery.

President Xi, who listed his administration’s recent achievements since he assumed office in 2012, said that China’s economy has maintained a mediumhigh growth rate making China a leader among the major economies.

“With the gross domestic product rising from 54 trillion to 80 trillion Yuan (8.3 trillion US dollars to 12.3 trillion US dollars) China has maintained its position as the world’s secondlargest economy and contributed more than 30 percent of global economic growth,” Xi said.

President Xi said the positive results were recorded because his administration adopted a right approach to development and endeavored to transform the growth model. “The new institutions of the open economy have been steadily improved.

China now leads the world in trade, outbound investment, and foreign exchange reserves,” he said. He said China’s GDP rose from 54 trillion to 80 trillion yuan (8.3 trillion in 2012 and now is about 12.1 trillion U.S. dollars) over the past five yrs.

Xi said China has maintained its position as the world’s second-largest economy and contributed more than 30 percent of global economic growth. The economic structure has been steadily improved as the supply-side structural reform has made further headway, he said.

The five years also saw agricultural modernization steadily advance, with annual grain production reaching 600 million metric tons.

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