Beijing, December 27, 2024 – The Europe Today: China released the results of its fifth national economic census on Thursday, showcasing a robust economic foundation, resilience, and significant potential over the past five years.
According to the report, China’s gross domestic product (GDP) reached nearly 130 trillion yuan (approximately 18.08 trillion U.S. dollars) in 2023. As the world’s second-largest economy, China has contributed an average of 30 percent to global economic growth over the past five years, positioning itself as the largest driving force behind global economic expansion.
The census revealed an improved economic structure, with the tertiary industry accounting for 56.3 percent of the GDP in 2023—an increase of over two percentage points since 2018.
Kang Yi, head of the National Bureau of Statistics, noted a significant rise in the number of entities and individuals employed in secondary and tertiary industries. By the end of 2023, China had 33.27 million legal units in these sectors, marking a 52.7 percent increase from 2018. Additionally, over 428.98 million individuals were employed in these industries, reflecting an 11.9 percent growth since 2018.
The census also highlighted the inclusion of the digital economy for the first time. By the end of 2023, 2.92 million corporate enterprises were operating in the core industries of the digital economy, employing 36.16 million people. The total annual business revenue from these industries reached 48.45 trillion yuan.
The report underlined advancements in technological innovation and labor productivity. The number of high-tech manufacturing enterprises above the designated size grew by 2 percentage points compared to 2018. Enterprises engaged in strategic emerging industries reached 158,000, accounting for 20 percent of the total.
Research and development (R&D) investment showed remarkable growth, with R&D expenditure increasing by 61.9 percent compared to 2018.
The economic census, one of China’s major national surveys, provides a detailed overview of the country’s secondary and tertiary industries, offering insights into its socio-economic development. This was the fifth such census, following previous ones in 2004, 2008, 2013, and 2018.
Kang emphasized that the data collection process adhered to strict quality control measures, with a post-enumeration check revealing a combined error rate of just 0.47 percent, meeting national standards for data quality.
