Page 29 - REPORT ON THE IMPLEMENTATION OF THE 2022 PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT AND ON THE 2023 DRAFT PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT

smooth progress. We have solved a great number of problems that had long gone
unsolved, secured many accomplishments that hold major future significance, and

achieved impressive advances in economic and social development. China’s
position in the world as the second largest economy, the second largest consumer
market, the largest manufacturer, the largest trader in goods, the second largest
trader in services, and the holder of the largest foreign exchange reserves has been
further consolidated and elevated.

China’s economy has grown to new heights. Over the past five years, the
Chinese economy has registered average annual growth of 5.2%, which is
considerably higher than the global average of around 2.3%. China’s GDP has
increased from 12 trillion US dollars in 2017 to 18 trillion US dollars, and its per

capita GDP has increased from over 8,800 US dollars in 2017 to 12,700 US dollars,
exceeding the global average and further closing the gap with the
high-income-country threshold. In particular, over the three years since the
outbreak of Covid-19, we have taken strong and effective response measures and
introduced and stepped up efforts to ensure security in the six key areas based on

our work in ensuring stability on the six key fronts. With this, we withstood
downward pressure on the economy. Over the past three years, our economy has
averaged annual growth of 4.5%, higher than any of the world’s other major
economies.

We have won the battle against poverty within our projected timeframe.
Following a strategy of targeted poverty alleviation, we have carried out the most
extensive and aggressive anti-poverty campaign in human history, lifting 832
impoverished counties and close to 100 million poor rural residents out of poverty.
With this, we have secured a historic success in eradicating absolute poverty and

attained the goal of building a moderately prosperous society in all respects within
the set timeframe.
Fruitful results have been achieved in promoting innovation-driven
development. China has ranked second in the world for R&D investment since

2013. Breakthroughs have been made on multiple fronts, including manned
spaceflight, lunar exploration, deep sea probes, supercomputing, satellite
navigation, and so on. We have seen rapid development in strategic emerging
industries such as next-generation information technology, biotechnology,
high-end equipment, green industry, and new-energy vehicles, which have

become important engines driving high-quality development. The value-added of

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