A glimpse of China with Sue: GDP expands 5.2%

On February 29, 2024, the National Bureau of Statistics of China unveiled the statistical communique for 2023. Let's delve into the highlights.

The country's GDP witnessed a 5.2 percent year-on-year growth, soaring to a staggering 126.06 trillion yuan, approximately 17.75 trillion US dollars. Per capita GDP experienced a notable increase, climbing 5.4 percent year-on-year to reach 89,358 yuan.

Meanwhile, the tertiary industry achieved dominance, accounting for 54.6 percent of the GDP, while final consumption expenditure contributed a significant 4.3 percentage points.

On the employment front, China showed resilience with the creation of 12.44 million jobs in urban areas, marking a notable increase of 380,000 from the previous year.

Lastly, let's talk about new economic drivers. In particular, the output of new energy vehicles surged by an impressive 30.3 percent year-on-year, reaching 9.44 million, and the output of solar cells saw remarkable expansion, soaring by a staggering 54 percent from 2022.