China’s GDP growth made its first rebound since 2011 with a year-on-year rise of 6.9% in 2017, according to the National Bureau of Statistics. Meanwhile, total GDP volume has exceeded 80 trillion yuan for the first time, recording 82.71 trillion yuan (US$12.89 trillion), Economic Information Daily reported.
The newly released figure beats Beijing’s official annual expansion target of 6.5%.
The data shows that the total amount of trade has increased 14.2% from a year earlier, hitting 27.79 trillion yuan, which reversed a decline of two consecutive years.
Xu Hongcai, deputy chief economist of China Center for International Economic Exchanges, thinks the improvement in external demand driven by the apparent recovery of the world economy has made a great contribution to the country’s GDP growth.
For the year ahead, a number of agencies have predicted that China’s economy will remain stable in 2018, with its GDP growth remaining at around 6.7%.
Will Myanmar’s coup help China influence ASEAN?
The Myanmar crisis is becoming increasingly tragic, with the military’s use of lethal force now killing over 60 protestors.
Rapid growth in China post-COVID makes it ripe for investment
Being “first in and first out” of COVID-19, China is the only country among the G20 that is thought by the Organisation for Economic Co-operation and Development (OECD) to have increased GDP in 2020.
In January 2020 as the world began to learn of COVID-19, many market observers predicted a challenging year for Asia. While there continue to be headwinds from the health and economic crisis, Asia, and China in particular, has demonstrated comparatively advantageous resilience.
Mainland China is in no position to take Taiwan by force
Unlike his predecessors, Chinese President Xi Jinping has demonstrated greater intensity in the desire for reunification.
The situation across the Taiwan Strait has seemed to be on the brink of crisis since 2018. Beijing has sent numerous sorties of military aircraft to conduct exercises near Taiwan and frequently crossed the median line of the Taiwan Strait.
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