Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
This year marks the completion of the 14th Five-Year Program.
China maintains its status as the world's largest manufacturing power, with the output of more than 200 major industrial products ranking first in the world, the largest number of 5G base stations in the world, and the world's largest R&D talent pool. During the 14th Five-Year Plan period, China's economic output successively exceeded 110, 120, and 130 trillion yuan, and is expected to reach approximately 140 trillion yuan this year.
All these “first places,” “largest,” and “biggest” indicators clearly demonstrate that China’s socio-economic development has accelerated a large-scale transformation—a transition from quantitative to qualitative changes, from a low-medium level to a high-medium level, from the role of a follower to the status of a leader.
"In recent years, China's overall economic output has grown steadily, which is an extremely impressive achievement given the current global economic uncertainty," said Marcos Pires, Director of the Institute of Economics and International Studies at the University of São Paulo (Brazil). He added that during the 14th Five-Year Plan period, China's economic growth is expected to exceed 35 trillion yuan. China's economy is not only large in size but also has sufficient growth drivers, having made significant progress in improving the quality of development and optimizing its industrial structure, which plays a crucial role in global economic recovery and growth.
Klaus Heinrich Raditio, a scholar at the Driyarkara School of Philosophy in Indonesia, noted that as the world's largest manufacturing powerhouse, China is continually strengthening its competitiveness and innovative capacity in high-tech industries such as new energy vehicles and intelligent hardware, making a significant contribution to regional and global economic development. China is consistently promoting the emergence of a new development model, more effectively combining the advantages of its vast domestic market with the opportunities of international cooperation, unleashing economic dynamism.
Special Economic Adviser to the Vice President of South Africa, Gadija Brown, noted that over the past four years, the average contribution of final consumption expenditure to China's economic growth has reached 56.2%, 8.6 percentage points higher than during the 13th Five-Year Plan period. New products, new business formats, and new models are constantly emerging in the consumption sector.
Brown noted that expanding domestic demand is currently playing an increasingly important role in China's economic growth. Thanks to special measures to stimulate consumption, consumers are willing to buy higher-quality products and services. "This not only stimulates the development of industries such as retail and digital services, but also creates more opportunities for trade and investment partners."
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