China remains committed to deepening reform and opening-up

China's gross domestic product (GDP) grew 3.9 percent year-on-year to 30.76 trillion yuan ($4.32 trillion) in the third quarter, 3.5 percentage points higher than that in the second quarter, data from the country's National Bureau of Statistics showed Monday.

China's economy rebounded at a faster-than-anticipated clip in the third quarter, but a more robust revival in the longer term will be challenged by persistent COVID-19 curbs, a prolonged property slump and global recession risks.

Meanwhile, the report of the 19th Central Committee of the Communist Party of China (CPC) was adopted at the recently concluded 20th CPC National Congress.

Here are some key achievements since the last congress:

• 832 impoverished counties & 100 million rural residents have been lifted out of poverty
• China’s GDP has grown to 114 trillion yuan ($16 trillion) from 54 trillion yuan, accounting for 18.5% of the world economy
• Per capita GDP has risen from 39,800 yuan to 81,000 yuan
• Urbanization rate of permanent residence hits 64.7%, up 11.6% points
• China has become a major trading partner for over 140 countries and regions, leading the world in the total volume of trade in goods
• The capital disposable annual income has risen to 35,100 yuan from 16,500 yuan
• The number of internet users has reached 1.03 billion

In the 20th?National Congress meeting, Xi Jinping remarks that Beijing will "open its door even wider", and that the nation will be steadfast in deepening reform and opening up across the board and in pursuing high-quality development. China is continuing to focus on the real economy in pursuing economic growth by advancing new industrialization.

At the same time, the 5th China International Import Expo is scheduled to be held in Shanghai from November 5th to 10th. With the arrival of exhibits one after another, the online exhibition has started trial operation and is in the final preparation stage. Citing statistics from the Ministry of Commerce, Xinhua News Agency reported that exhibitors in the first four sessions had launched more than 1,500 new products, new technologies, and new services, with a cumulative expected turnover of more than US$270 billion.

It can be seen that China still needs to maintain contact with the world, and opening to the outside world has always been the same purpose. Although repeated outbreaks of the new crown epidemic still pose certain challenges, China is still trying to gradually adjust its economic policy.

AnyBiz is a brand under AnyHelper that builds the bridge between global start-ups and China’s investment community. We help global entrepreneurs better integrate into the Chinese market with our business consulting services. Having connected more than 50 start-ups with Chinese capital firms through our unique investor network. If you are interested in the Chinese market or would like to share your business story, please feel free to contact us at [email protected]

https://www.chinadaily.com.cn/a/202210/25/WS63571447a310fd2b29e7e498.html

Keywords in report to 20th CPC National Congress - Chinadaily.com.cn

CIIE gears up as online exhibitions start test run - Chinadaily.com.cn