By Wang Xinyuan
Chinese Premier Li Keqiang delivered a government work report on behalf of the State Council at the opening meeting of the first session of the 14th National People's Congress, held at the Great Hall of the People in Beijing, March 5, 2023.
According to the government work report, the past five years for China have been truly momentous and remarkable as the country has met numerous tests and made major achievements in economic and social development. Here are the highlights.
China's GDP increased to 121 trillion yuan (about $17.5 trillion), registering an annual growth rate of 5.2 percent during the period, it said, adding that the country achieved a medium-high rate of economic growth given its large economic aggregate and transitioned to high-quality development.
The economic structure was further improved. Digital economy continued to grow in strength. The value-added output of new industries and new business forms and models accounted for over 17 percent of GDP, the report said.
People's living standards rose steadily, with personal income growing generally in step with economic growth, said the report.