China’s Gross Domestic Product (GDP) reached 126 trillion RMB (17.89 trillion USD) in 2023, representing a 5.2 percent increase in its overall economic growth.
Ranked among the fastest-growing major economies in the world, the country also created 12.44 million jobs, with an unemployment rate pegged at 5.2 per cent.
Mr LU Kun, Ambassador of China to Ghana, made this known at the second session of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) held recently in Beijing.
He touched on major economic and social development targets accomplished in 2023 and other highlights of China’s economy such as the country’s per capita income, which increased by 6.1 percent in the year under review.
Among other indicators, he said the income level of rural residents increased by 8.4 per cent with the number of people working in the labour force exceeding 33 million.
With a focus on modernising industrial systems and other transformational initiatives, China’s strategic emerg
ing industries were reported as ‘flourishing’.
‘China’s domestically developed C919 large passenger jet has been put into commercial operation…
‘The production and sales of new energy vehicles account for more than 60 per cent of the world’s total,’ the report noted.
The development of high-end equipment such as aircraft engines, gas turbines, and fourth-generation nuclear power plants were also said to have improved.
On the technology front, fifth generation wireless technology (5G) user access had exceeded 50 per cent while innovations in cutting-edge artificial intelligence and quantum technology continue to emerge.
To this end, Mr Lu Kun said China would intensify its efforts to attract foreign investments and abolish all restrictions on foreign investment in the country’s services sectors such as telecommunications and healthcare.
‘China will implement measures to ensure national treatment for foreign-funded enterprises, enhance foreign investment service system, and improve the convenience for for
eigners to work, study and travel in China,’ he noted.
The Ambassador emphasised the nation’s commitment to deepening multilateral, bilateral and regional economic cooperation, by signing ‘high-standard free trade and investment agreements,’ as the country marked its 75th anniversary and worked towards achieving its ’14th Five-Year Plan’.
‘…China is solidly promoting high-quality development, taking solid steps towards building a modernised socialist country in all respects, sharing new development opportunities with other countries.
‘China will continue to provide an important driving force for the world and inject more vitality and greater confidence into the world’s economic recovery,’ he said.
Source: Ghana News Agency