New Philosophy to Lead New Development and New Situation For a New Era

New Philosophy to Lead New Development and New Situation For a New Era

—Series Report I on the Economic and Social Development Achievements since the 18th CPC National Congress

Source: National Bureau of Statistics 

Published on: September 13, 2022 Characters: 7268

Since the 18th CPC National Congress, the whole Party and the Chinese people led by the CPC Central Committee with Comrade Xi Jinping at the core have overcome difficulties and pioneered with innovation in the face of profound and complex global changes of a magnitude not seen in a century as well as the impact of the COVID-19 pandemic. We have made coordinated efforts to promote the Five-Sphere Integrated Plan (i.e., to promote coordinated economic, political, cultural, social, and ecological advancement) and the Four-Pronged Comprehensive Strategy (i.e., to make comprehensive moves to build a modern socialist country, deepen reform, advance law-based governance, and strengthen Party self-governance). Grounding our efforts in the new development stage, we have been committed to applying the new development philosophy, creating a new development pattern, and promoting high-quality development. China and the CPC have made comprehensive and groundbreaking achievements such as the completion of a moderately prosperous society in all aspects on schedule and the fulfillment of the First Centenary Goal with their endeavors, resulting in deep and fundamental transformations. With the start of a new journey to build a modern socialist country in an all-round way and forge ahead to the Second Centenary Goal, the great rejuvenation of the Chinese nation has entered an irreversible historical process.

I. A Dramatic Increase in China's Economic Strength, with Stronger Overall Strength and International Influence

All departments in all regions have insisted on pursuing progress while ensuring stability. Specifically, they've made efforts to: innovate and improve macro-control, make effective responses to severe challenges such as the COVID-19 pandemic, and resist major risks in the economic sphere at home and abroad. As a result, China has seen sustained and healthy economic development, a significant increase in comprehensive national strength and a steady rise in international influence.

GDP has reached a new level in a row. From 2013 to 2021, China's GDP grew at an average annual rate of 6.6%, higher than the world average of 2.6% and the developing economies average of 3.7% over the same period. In 2014, 2016, 2017, 2018 and 2020, China's GDP exceeded RMB 60, 70, 80, 90 and 100 trillion in succession. 2021 saw a GDP of RMB 114.4 trillion, which exceeded RMB 110 trillion and was 1.8 times that in 2012 at constant prices. China's economy has steadily increased its share of the global economy, making it a growing international presence. Translated at the average annual exchange rate, China's economy accounted for 18.5% of the world economy in 2021, 7.2 percentage points higher than that in 2012, firmly ranking second in the world. From 2013 to 2021, China contributed more than 30% on average to world economic growth, ranking first in the world.

A new breakthrough has come in China's GDP per capita. In 2021, China's GDP per capita amounted to RMB 80,976, an increase of 69.7% over 2012, net of prices, with an AAGR of 6.1%. China's GDP per capita amounted to USD 12,551 at the average annual exchange rate. With more than USD 10,000 for three consecutive years, China has secured its position as an upper middle-income country and is approaching the threshold value of high-income countries as classified by the World Bank.

Financial strength has been further enhanced. In 2021, China's general public budget revenue exceeded RMB 20 trillion, amounting to RMB 20.3 trillion, with an AAGR of 5.8% from 2013 to 2021 based on the same statistical caliber. The scale of fiscal revenue has been growing, providing a solid financial guarantee for economic development, improvement of people's livelihood, economic restructuring and effective risk prevention.

China has had the world's largest foreign exchange reserves. Due to the basic set-up in the independent balance of payments, the relative balance in cross-border capital flows, and the overall stability in foreign exchange reserves, China's foreign exchange reserves have stabilized at more than USD 3 trillion since the 18th CPC National Congress as it amounted to USD 3,250.2 billion by the end of 2021, ranking first in the world. Against the backdrop of complex and challenging external situation and rising uncertainty, the large and stable foreign exchange reserves have become a strong safeguard for our economy against external risks.

II. A Comprehensive and Solid Foundation for Development, with Enhanced Construction of Basic Industries and Infrastructure

The construction of modern infrastructure system has been in steady progress, and the construction of new infrastructure has been in acceleration. The next-generation information network has evolved rapidly, and the support capacity of basic industries and infrastructure has been significantly improved. Favorable conditions for stable and healthy economic development have thus been created, safeguarding and improving people's livelihood.

Agricultural base has been reinforced. With the implementation of a series of policies that strengthens agriculture and benefits farmers, the comprehensive agricultural production capacity has been enhanced to ensure national food security and the supply of important agricultural products. In 2021, China's grain output was 682,850,000 metric tons, an increase of 11.5% over 2012, and stable for seven years in a row at over 650 million metric tons. From 2015 to 2021, China's total cereal output remained at over 600 million metric tons, making it the world's largest. The output of meat, fruits, peanuts, seed cotton, tea and other agricultural products remained the world's best. China has seen a speed-up in agricultural tech innovation and mechanization. In 2021, China's agricultural tech contributed more than 60% to the growth of total agricultural output and achieved more than 70% mechanization involving the cultivation and harvesting of crops.

China has distinguished itself in transport development. A well-connected comprehensive transportation network has been gradually improved, and, in particular, the world's largest high-speed railroad network and highway network have been built. From 2012 to the end of 2021, China's railroad mileage in operation increased from 98,000 km to 151,000 km, including high-speed railroads from less than 10,000 km to 40,000 km. China's road mileage increased from 4.24 million km to 5.28 million km, including highway mileage from 96,000 km to 169,000 km. Modern and efficient urban rail transportation has been on the way up. By the end of 2021, there were 8,736 km of urban rail transit lines in operation in 51 Chinese cities.

Information and communication have been on the way up. Thanks to the accelerated implementation of "Broadband China" and "Cyber Powerhouse" strategies, information and communication services have moved forward rapidly in China. In 2021, China had 221.6 billion GB of mobile Internet access traffic, 252 times that in 2012. Internet penetration has increased significantly. In 2021, China's Internet population hit 1.032 billion, an increase of 83.0% over 2012. The Internet penetration rate rose to 73.0%, an increase of 30.9 percentage points. 5G network has gained momentum. By the end of 2021, a total of 1.425 million 5G base stations were built and activated in China, creating the world's largest 5G network, with the total number of China's 5G base stations accounting for more than 60% of the global share and ranking first in the world.

Energy production capacity has been improving steadily. Preliminary estimates show that China's total primary energy output was 4.33 billion tons of standard coal in 2021, an increase of 23.2% over 2012 with an AAGR of 2.3%. It involved the output of 4.13 billion tons of raw coal, an increase of 4.6% over 2012; 207.6 billion cubic meters of natural gas, an increase of 87.7%; 198.88 million tons of crude oil, and the supply was generally stable. By the end of 2021, China had installed power generation capacity of 2,376,920,000 KW nationwide, an increase of 1.1 times that at the end of 2012. With the world's largest installed capacity of hydropower, wind power, solar power and nuclear power under construction, China has become a global leader in non-fossil energy.

III. Enhanced Innovative Development Momentum, with New Progress in Innovative Nation Building

With the in-depth implementation of the innovation-driven development strategy and the continuous reinforcement of national strategic science and technology resources, steady steps have been taken to build China into an innovative country. The leading role of innovation has been significantly enhanced and, in particular, new momentum has grown and economic development mode has accelerated its transformation. The whole society's innovation vitality and creative potential have thus been stimulated.

China has seen a dramatic increase in innovative investment. China surpassed Japan in total R&D spending in 2013, which marked China as the second largest R&D spending power in the world. In 2021, China's expenditure on research and development (R&D) was RMB 2,795.6 billion, 2.7 times that in 2012, with an AAGR of 11.7%. The ratio of R&D expenditure to GDP was 2.44%, 0.53 percentage points higher than that in 2012, which is close to the average level of 2.47% in OECD countries pre-COVID. The strategy for invigorating China through science and education and the workforce development strategy have been firmly pushed forward, so that China boasts the world's most numerous R&D personnel. In terms of equivalent full-time workload, the total number of R&D personnel nationwide in 2021 was 5.62 million person-years, an increase of 73.1% over 2012, ranking first in the world for the ninth consecutive year.

Innovation output has been expanding. China has stepped up its growth in strategic tech capabilities. A series of major original results have emerged from fundamental cutting-edge researches such as quantum information, iron-based superconductors, stem cells, and synthetic biology. Many breakthroughs have been made in strategic high-tech fields such as human spaceflight, lunar exploration programs, deep-sea programs, supercomputing, and airliner manufacturing. The number of patent applications & licenses has increased significantly. There were 4,601,000 applications & licenses for domestic and foreign patents in 2021, 2.7 times that in 2012. The number of international patent applications submitted by Chinese applicants through the PCT was 69,500, ranking first in the world for three years in a row. By the end of 2021, there were 3.597 million valid invention patents and 7.5 high-value invention patents per 10,000 persons According to a report by the World Intellectual Property Organization, China's ranking in the Global Innovation Index leaped from 34th place in 2012 to 12th place in 2021.

Innovative momentum has thrived. With the further development of mass entrepreneurship and innovation, the enthusiasm of new entities has boomed and new industries and new business models have flourished. There has been a large increase in the number of market players. By the end of 2021, the number of market entities in China was 154 million, 1.8 times that in 2012, with a net addition of more than 10 million entities per year. Online retailing of physical goods has developed well. In 2021, the proportion of online retail sales of physical goods to total retail sales of consumer goods was 24.5%, 15.3 percentage points higher than that in 2014. 108.3 billion items were delivered by courier, 18 times that in 2012. The scale of "three new" economy (i.e., a collection of economic activities with new industry, new business format and new business model as the core content) has been expanding. In 2021, the added value of the "three new" economy accounted for 17.25% of GDP, an increase of 1.88 percentage points over 2016. The surging new momentum has played an important role in resisting COVID-19 and driving economic recovery since 2020, becoming a new engine to drive high-quality economic development.

IV. A Robust Pace of Coordinated Development, with Continuous Optimization of Economic Structure

The supply-side structural reform has gone further as the acceleration embodied in the progress of new urbanization, rural revitalization strategy, and economic restructuring. The transformation and upgrading has achieved remarkable results, and it is worth mentioning the continuous optimization of the spatial layout of regional development, as well as the enhancement of the balance, coordination and sustainability of economic development.

Supply-side structural reform has been further promoted. With a speed-up in the implementation of the strategy of building a world manufacturing power, industrial development has moved toward the middle and high end. In 2021, the added value of China's manufacturing sector hit RMB 31.4 trillion, up 74.3% in real terms from 2012, with an AAGR of 6.4% from 2013 to 2021. From 2013 to 2021, the added value of high-tech manufacturing and equipment manufacturing industries above designated size grew at an average annual rate of 11.6% and 9.2%, respectively, 4.8 and 2.4 percentage points ahead of industries above-scale. Both quantity and quality of China's service sector have been improving. In 2021, the added value of China's service sector hit RMB 61.0 trillion, an increase of 90.7% in real terms over 2012, with an AAGR of 7.4% from 2013 to 2021. It accounted for 53.3% of GDP, an increase of 7.8 percentage points. Labor productivity has been improving. In 2021, the overall labor productivity (in 2020 prices) was RMB 146,380 per person, an increase of 80.3% over 2012 with an AAGR of 6.8% from 2013 to 2021.

Demand structure has been optimized. The fundamental role of consumption has been brought into effect, becoming one of the main drivers of economic growth. In 2021, the contribution of final consumption expenditure to economic growth was 65.4%, 10.0 percentage points higher than that in 2012. It was 51.7 percentage points higher than gross capital formation, being the first puller of economic growth. Investment structure has been optimizing with an investment surge in service and private sectors. From 2013 to 2021, the AAGR of investment in tertiary and private sectors was 8.9%.

New urbanization and rural revitalization have been in solid progress. Urbanization has been improving. By the end of 2021, the urbanization rate of China's resident population was 64.72%, an increase of 11.62 percentage points from the end of 2012 with an AAGR of 1.29 percentage points. Rural construction has been in full speed. In 2021, 84% of China's rural areas had universal access to piped water. Broadband has been available in all existing administrative villages, and asphalt roads were paved in designated villages whenever possible. The gap between urban and rural development has been further narrowed. The ratio of disposable income per capita between urban and rural residents decreased from 2.88 in 2012 to 2.50 in 2021, and the ratio of consumption expenditure per capita narrowed from 2.57 to 1.90.

Regional coordinated development has seen a new pattern. The "four major segments" of eastern, central, western and northeastern China have been in coordinated development. From 2013 to 2021, the AAGRs of GDP in central and western regions were 7.5% and 7.7%, respectively, 0.5 and 0.7 percentage points ahead of eastern regions. Major regional strategies have been effectively fulfilled to promote the coordinated development of the Beijing-Tianjin-Hebei region, the development of the Yangtze Economic Belt, the construction of Guangdong-Hong Kong-Macao Greater Bay Area, the integrated development of the Yangtze River Delta, the ecological conservation and high-quality development of the Yellow River basin, etc. City clusters and metropolitan areas such as Chengdu-Chongqing Economic Circle have improved their capacity and have seen an increase in their development vitality. Some central cities are becoming stronger in driving development of their surrounding areas.

V. Green Development in a Positive Trend, with Faster Formation of Harmony Between Human and Nature

The idea that lucid waters and lush mountains are invaluable assets has become unknowingly familiar. Green development, circular development and low-carbon development have been effectively promoted. Beautiful China Initiative has been pushed forward more quickly. Thanks to them, China's ecological environment has been improving, embarking on a civilized development path of productive development, affluent living and good ecology.

Critical battle against pollution has been quite effective. Significant progress has been made to keep our skies blue, waters clear, and lands clean. In 2021, 87.5% of days in China's prefecture-level and above cities had good air quality on average, 6.3 percentage points higher than that in 2015. The annual average PM2.5 concentration was 30 µg/m3, down 34.8%. The combined proportion of state-controlled water sections with good-quality surface water was 84.9%, 23.3 percentage points higher than that in 2012. Soil environment has been improved, with the safe utilization rate of contaminated arable land stabilized at over 90% in 2021.

Production and use of energy has been optimized. Energy revolution has gone further, with peak carbon emissions and carbon neutrality progressing in an orderly manner. Energy production and consumption has shifted toward being clean, low-carbon, safe and efficient. In 2021, clean energy sources such as natural gas, hydropower, nuclear and wind power accounted for 26.4% of China's total energy production, 11.1 percentage points higher than that in 2012. They accounted for 25.5% of total energy consumption, an increase of 11.0 percentage points. Energy conservation and consumption reduction have been quite effective. In 2021, energy consumption per unit of GDP reduced by a cumulative 26.4% from 2012, with an average annual decrease of 3.3%.

Ecological restoration has been comprehensively enhanced. Greening programs have been quite effective. From 2013 to 2021, China's afforestation area nationwide totaled about 59.44 million hectares. In 2021, China's forest cover was 23.04%, 1.41 percentage points higher than the finding of the 8th National Forest Inventory (2009-2013). Continued progress has been made in soil erosion control. From 2013 to 2021, the new area under comprehensive soil erosion control amounted to 534,000 km2. Nature conservation system has been improved. By the end of 2021, China had 474 national nature reserves and 5 national parks, which is part of the efforts to step up building a nature conservation system with national parks as the mainstay.

Living environments have been improving. Urban livability has been improving. By the end of 2021, the urban sewage and domestic waste disposal rate was 97.5% and 99.9%, respectively, an increase of 10.2 and 15.1 percentage points over the end of 2012. By the end of 2020, the urban park green space per capita was 14.8 m2, an increase of 20.5% over the end of 2012. Steady progress has been made in comprehensive rural environment improvement. By the end of 2021, over 70% of China's rural areas had universal access to sanitary toilets, and the proportion of natural villages, where domestic waste was collected and treated, remained stable at over 90%.

VI. Open Development towards a Higher Level, with Faster Formation of a New Pattern of Comprehensive Opening-up

China has always insisted on the mutual promotion of opening up internally and externally, integrating strategies of “bringing in” and “going global”. Profound progress has been made to turn China into a trader of quality. Efforts have been sped up to build an open economic system that is mutually beneficial, diversified and balanced, safe and efficient. A broader and deeper pattern of opening up has been gradually formed. China's new advantages in international economic cooperation and competition have been growing.

Trade size has been in a steady rise. As trade in goods has been expanding and trade in services grown more rapidly, China's status as a major trading power has become increasingly unassailable. In 2020, China's total trade in goods and services hit USD 5.3 trillion, surpassing the U.S. as the world's top trading power for the first time. In 2021, China's total trade in goods and services hit USD 6.9 trillion, staying number one in the world. Specifically, the total trade in goods hit USD 6.05 trillion, up 56.5% from 2012, ranking first in the world for five years in a row. The total trade in services hit USD 821.2 billion, up 70.1% from 2012, remaining the second largest in the world.

Trade structure has been optimizing. General trade has seen a steady increase in its share. In 2021, the general trade imports and exports accounted for 61.6% of China's total imports and exports, an increase of 9.6 percentage points over 2012. Exports of capital- and technology-intensive products have seen rapid growth. In 2021, China's exports of electromechanical products and high-tech products increased by 68.4% and 62.9%, respectively, over 2012, which was significantly ahead of overall exports. Exports of high value-added services have grown robustly. In 2021, the export value of telecom, computer and information service (TCI) and financial services was 5.0 times and 2.7 times that in 2012, respectively.

Two-way investment has been at a higher level. Despite the global downturn in cross-border investment, the scale of foreign investment in China has been expanding, making it an attractive destination for global investment. In 2021, China's actual use of foreign investment was USD 173.5 billion, up 53.1% from 2012, hitting another record high and remaining the second highest in the world. Foreign investment has been growing steadily. In 2021, China's OFDI hit USD 145.2 billion [1]. From 2013 to 2021, China's non-financial OFDI totaled USD 1,128.1 billion, ranking firmly among the world's top.

Joint development of "Belt and Road" has been quite effective. By the end of 2021, China had more than 200 cooperation agreements with more than 170 countries and international organizations to jointly build "Belt and Road". A general connectivity framework consisting of six corridors, six connectivity routes and multiple countries and ports had been put in place. From 2013 to 2021, the value of China's imports and exports involving countries participating in the Belt and Road Initiative increased from RMB 6.5 trillion to RMB 11.6 trillion, with an AAGR of 7.5%. Its share of total imports and exports in the same period increased from 25.0% to 29.7%. China's direct investment in Belt and Road Initiative participants totaled USD 161.3 billion. China-Europe freight trains were in rapid growth as more than 50,000 trains had been run as of January 2022. Free trade zones have been developed with increased scope and efficiency. China has established 21 free trade zones and signed 19 free trade agreements with 26 countries and regions. On January 1, 2022, with the entry into force of the Regional Comprehensive Economic Partnership Agreement (RCEP), the world's largest free trade area was officially opened.

VII. Sustained and Stronger Development for All, with Fruits of Development Benefiting All People in a Greater and Fairer Way

With determination, China has won the battle against poverty and made continuous efforts to improve the lives of people in poor areas, especially by driving employment and increasing incomes. We have focused our efforts on pressing concerns of the people and stepped up the inclusive, basic and bottom-up livelihood development. With the continuous improvement of the social security system, people's living standards have been improving.

Absolute poverty in China has been resolved once and for all. Based on China's current rural poverty criterion [2], from 2013 to 2020, China saw a total of 98.99 million rural residents lift themselves out of poverty, reducing poverty by an average of 12.37 million people per year and reducing the incidence of poverty by an average of 1.3 percentage points per year. The poor have been significantly better off. From 2013 to 2020, the AAGR of disposable income per capita of rural residents in poor areas was 9.2% in real terms, 2.2 percentage points ahead of rural residents nationwide. According to the national survey of poverty alleviation, the proportion of administrative villages [3] with asphalt roads, three-phase power supply and telecom signal coverage in poor areas was 99.6%, 99.3% and 99.9%, respectively. In 2020, the proportion of farm households with access to piped water supply and independent toilets in poor areas was 91.0% and 97.2%, respectively, up 34.6 and 6.2 percentage points from 2012. Despite the impact of COVID-19, all sides managed to ensure and push poverty eradication toward rural revitalization in 2021, holding the bottom line of no large-scale return to poverty.

Employment has been generally stable. Employment has steadily expanded as a result of a further employment-first strategy. From 2013 to 2021, more than 740 million people in China were in stable employment, and more than 11 million people were newly hired each year in urban areas. The number of migrant workers has been increasing. In 2021, the population of migrant workers in China totaled 292.51 million, an increase of 29.9 million over 2012, with an AAGR of 1.2%. Employment structure has been optimizing. In 2021, 48.0% of all employment was in the tertiary sector, 11.9 percentage points higher than that in 2012. Survey-derived urban unemployment rate has been generally stable. From 2018 to 2021 [4], the survey-derived average urban unemployment rate was 4.9%, 5.2%, 5.6%, and 5.1%, respectively. The unemployment rate held within 5.5% for all these years except for 2020 when it was unusually high due to COVID-19.

People have gradually moved on to a better life. Population's income has grown in tandem with the economy. In 2021, China's per capita disposable income was RMB 35,128, up RMB 18,618 from 2012, with an average annual real growth rate of 6.6%, which was 0.5 percentage points ahead of the AAGR of GDP per capita over the same period. Consumer spending has been rising. In 2021, China's per capita consumer spending was RMB 24,100, up RMB 12,046 from 2012, with an average annual real growth rate of 5.9%. Trend of consumer upgrading has been evident. In 2021, China's Engel coefficient was 29.8%, down 3.2 percentage points from 2012. There were 41.8 cars and 259.1 cell phones per 100 households in China, up 147.3% and 27.5% respectively from 2013.

Social security system has been in place. A multi-tiered social security system has been accelerated, which is one of the world's largest social security systems. At the end of 2021, 1.03 billion people were under the coverage of basic pension insurance and 1.36 billion people were under the coverage of basic medical insurance in China. The number of insured population for unemployment, work injury and maternity increased by 77.33 million, 92.77 million and 83.23 million respectively over that in 2012. Basic housing supply has been increasing. From 2015 to 2021, there were over 31 million housing units of different types renovated in China. In 2021, there were 940,000 units of government-subsidized rental housing built and mobilized in China.

VIII. Prosperity and Progress in Social Undertakings, with Economic and Social Development in Concert

China's social development has been comprehensively enhanced and, in particular, solid progress has been made in boosting China's strength in education, culture and sports. Chinese people's cultural life has been enriched and the society has been renewed in addition to the basic public service system has been improving. A good picture of synergistic economic and social development has been increasingly reinforced.

Education has been elevating. Education has become increasingly accessible. In 2021, the completion rate of compulsory education in China was 95.4%, the gross enrollment rate in senior secondary education was 91.4%, and the gross enrollment rate in higher education was 57.8%, which are 3.6, 6.4, and 27.8 percentage points higher than those in 2012. The Chinese have become more competent. In 2021, the average number of years of education for the working-age population was 10.9 years, 0.7 years higher than that in 2015.

Culture development has been enhanced. Public cultural services have been increasing. By the end of 2021, China had a total of 3,215 public libraries and 5,772 museums, an increase of 139 and 2,703 respectively from the end of 2012. Cultural industry has grown rapidly. In 2020, the added value of China's cultural and related industries accounted for 4.43% of GDP, 1.07 percentage points higher than that in 2012. China has seen a fruitful preservation and transmission of cultural heritage, with Confucius Institutes and Confucius Classrooms around the world. With nearly 200 million people learning and speaking Chinese outside of China, it has been a remarkable increase in Chinese cultural influence.

Positive efforts have been made to develop China strong in health business. Medical services and supply capacity have been greatly improved. By the end of 2021, there were 9.45 million beds and 11.24 million medical professionals in China's health care institutions, up 65.0% and 68.4%, respectively, from the end of 2012. Chinese people have evidently become healthier. Life expectancy per capita increased from 74.8 years in 2010 to 78.2 years in 2021. Infant mortality rate decreased from 10.3 per 1,000 in 2012 to 5.0 per 1,000. In response to the COVID-19 pandemic, China has given top priority to people and their lives. Sustainable progress has been made in COVID-19 vaccination in addition to the strategic combination of standing pinpoint control and partial emergency response. Significant results have been achieved strategically in COVID-19 control to guard the life safety and health of over 1.4 billion Chinese people.

China has seen great success in sports. Good results in athletics have been made. From 2013 to 2021, Chinese athletes won a total of 879 world titles. China presented to the world a streamlined, safe and splendid Olympic and Paralympic Winter Games, encouraging 300 million people in winter sports. Fitness for all has been widely facilitated. By the end of 2021, there were 3.971 million sports venues in China, with a per capita sports venue area of 2.41 m2. In 2020, 37.2% of China's population aged 7 years and older participated in regular physical activities. Sports industry has flourished. In 2020, the added value of the sports industry accounted for 1.06% of GDP, up 0.26 percentage points from 2015.

Throughout the Party's history since the 18th CPC National Congress, the Chinese people led by the CPC Central Committee with Comrade Xi Jinping at the core have stood united to forge ahead. A promising future for the great rejuvenation of the Chinese nation has never been shown before as the goal of building a moderately prosperous society in all aspects has been realized as scheduled. However, China is also moving forward with unprecedented risks and challenges as the world today is experiencing profound changes unseen in a century; global politics and economics are in the midst of a profound restructuring; imbalances and inadequacies in development remain a prominent problem for China; the task of reform is formidable in key areas and sectors; and the difficulties and pressures in climbing over the hurdles are unprecedented. Not only are the difficulties and pressures to be overcome unprecedented, but the risks and challenges ahead are also uncharted. The road ahead is long; striving is the only way forward. As the Party is leading the united Chinese people on a new journey to accomplish the Second Centenary Goal, we must rally closely around the CPC Central Committee with Comrade Xi Jinping at its core, and hold high the great banner of socialism with Chinese characteristics. With adherence to the overall leadership of the Party and the general principle of pursuing progress while ensuring stability with people at the center, we will fully and faithfully apply the new development philosophy on all fronts, so as to make progress in the new development pattern, supply-side structural reform, further reform and opening-up, and high-quality development. By making efforts to ensure economic and social stability, we will build a modern socialist country in an all-round way and pursue the Chinese Dream of the great rejuvenation of the Chinese nation.

Note:

[1] OFDI in 2021 is annual snapshot data.

[2] China's current rural poverty criterion is a living standard of less than RMB 2300 per rural resident per year (based on the constant prices in 2010).

[3] Data as of the national anti-poverty census registration. In addition to all administrative villages in poor counties in China, the census includes neighborhood committees and communities with poor households registered.

[4] The national urban survey-derived unemployment rate has been officially released to the public since 2018.