GLOBALink | China, leading engine for global economy amid pandemic

Source: Xinhua News Agency     Updated: 2023-01-31 10:29:28

BEIJING, Jan. 30 (Xinhua) -- In its three-year-long fight against COVID-19, China posted outstanding results in economic development and epidemic control, reinforcing its status as a leading engine for the global economy.

In 2020, China became the first major economy in the world to achieve positive growth.

China's gross domestic product (GDP) grew 3 percent year on year to a record high of 121 trillion yuan (about 18 trillion U.S. dollars) in 2022.

Aside from the overall economic growth, China also made significant headway in maintaining consumer price stability, guaranteeing food and energy security, and improving people's livelihoods.

After China optimized its COVID response policies, the country's economic prospects in 2023 look promising.

In the UN World Economic Situation and Prospects 2023 report, growth in China is projected to moderately improve in 2023.

Produced by Xinhua Global Service