According to WTO figures, China’s trade-weighted average tariffs stand at 5.2 percent, lower than most other developing countries and higher than the average level of developed countries by less than 3 percentage points. We have opened up our market further by rolling out nationwide the managemen...
he raised the initiatives of joining with others to build a Silk Road Economic Belt and a 21st Century Maritime Silk Road (Belt and Road Initiative, or BRI). The
The value-added of industries above a designated scale increased by 6.0 percent, with the value-added of equipment manufacturing growing by 7.8 percent and high-tech manufacturing by 8.7 percent, outstripping the general industrial growth by 1.8 and 2.7 percentage points, respectively. This demonstrat...
In 2021 alone, China's economic aggregate accounted for 18.5 percent of the world's total after currency translation based on average annual exchange rates, the second largest in the world and up 7.2 percentage points from...
the income elasticity of consumption, i.e., the percentage of consumption increment due to a 1 percent increase in income. Based on a nationwide dataset from China, the Chinese Household Income Project 2018, we find that public rental housing significantly increases the marginal impact of ...
linked hub. the jakarta-bandung high-speed railway has become the first railway in southeast asia to reach a speed of 350 kilometers an hour. the mombasa-nairobi railway has added more than two percentage points to local economic growth...
Inclusive loans to micro and small businesses increased at an annual rate of 24%, rising from 8.2 trillion yuan to 23.8 trillion yuan, with the average interest rate falling by 1.5 percentage points compared to five years ago. We saw that the RMB exchange rate floated with greater flexibility...
The leap in the economy's global influence is evident: in 2018, China contributed to 27.5 percent of world economic growth, up 24.4 percentage points from 1978, the NBS estimates. While fast economic expansion tremendously elevated people's living standards in the world's most populous country ...
In 2016, China’s GDP accounted for 14.8 percent of the world total, up by 10.7 percentage points over 2001, calculated at exchange rates. Since 2002, China’s contribution to global economic growth has approached 30 percent on average.The Chinese economy has become a major engine for global...
In April, the IMF projected in its World Economic Outlook that global inflation will reach 5.7 percent in 2022 in advanced economies and 8.7 percent in emerging markets and developing economies, 1.8 and 2.8 percentage points higher than the January projection. ...