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China's economy expands 6.1% in 2019, highlights resilience

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Reference:CGTN | Updated: 26 February 2020


China's economy grew 6.1 percent year on year in 2019, according to a report released by the National Bureau of Statistics (NBS) on Friday.

Gross domestic product (GDP) stood at 99.09 trillion yuan (14.15 trillion U.S. dollars) in 2019, while per capita GDP was 70,892 yuan, up 5.7 percent year on year.

Against the backdrop of tepid global growth and incremental downward pressure on the domestic economy, China notched a sound and rapid economic growth over the past year. It also highlights the resilience and vitality of the Chinese economy, said Sheng Laiyun, spokesperson at the National Bureau of Statistics.

In 2019, primary, secondary and tertiary industries added 7.04 trillion billion yuan, 38.62 trillion yuan and 53.42 trillion yuan respectively. 

Among them, tertiary industries saw a jump of 6.9 percent compared to the previous year, followed by 5.7 for secondary industries and 3.1 percent for primary industries.

Tertiary industries contributed 53.9 percent to the GDP, while secondary and primary industries contributed 39.0 percent and 7.1 percent respectively.

Consumption remained the major driver of China's economy, which contributed 57.8 percent to GDP growth. Additionally, capital formation and net exports of goods and services respectively contributed 31.2 percent and 11.0 percent to the growth.

Sheng added that China is at the primary stage of socialism, and will remain so for a long time to come. It is still the world's largest developing country faced with unbalanced, inadequate development, requiring more efforts on public service including compulsory education, basic medical services, and safe housing.

"As wild cards brought by the new virus loom over production and work, we must maintain stable and healthy economic development with might and main to build an all-round well-off society," he elaborated.

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