China to continue powering global recovery
- By Wan Xiangyu
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E-mail China Daily, April 18, 2016
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A strong support [By Zhai Haijun / China.org.cn] |
Some countries are playing up the "China threat" theory because, contrary to many foreign observers' expectations, China's economy has grown with its status on the world stage. China's economy grew 6.7 percent in the first quarter of 2016, reflecting its resilience to economic troubles across the world.
Moreover, China's strong growth has had a positive impact on the global economy, proving that the world's economic stability is linked to its sustainable development.
China's GDP reached 67.67 trillion yuan ($10.46 trillion) in 2015, an increase of 6.9 percent year-on-year, with the International Monetary Fund estimating that China's GDP might account for 15.5 percent of the world's total. Compared with the world's average economic growth rate of 2.4 percent, China's annual average growth rate was 7.3 percent from 2011 to 2015, the fastest among the world's major and developing economies. And during the last five years, its economic growth contributed more than 25 percent to global economic growth, which made it the most important engine of the world economy as well as the main driver of global economic recovery.
China's fast-paced economic growth has also contributed to global poverty alleviation. According to the 2015 UN report on Millennium Development Goals, China lifted more than 70 percent to the world's poor population out of poverty from 1990 to 2015. In real terms, it helped reduce the world's impoverished people from 1.9 billion to 836 million.
World Bank data also show the number of Chinese people living in abject poverty declined from 770 million in 1978 to 55.75 million in 2015, with an annual decrease of 2.2 percent, far higher than the world's average.
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