By the end of the year, the size of China’s GDP could be higher than $17.4 trillion (more than 120 trillion yuan). This was expressed by Chinese President Xi Jinping in his New Year’s speech. broadcast China Central Television.
“Our country continues to maintain the status of the world’s second largest economy with sustainable economic development, and its annual GDP is expected to exceed 120 trillion yuan,” Xi Jinping said.
According to him, against the backdrop of the global food crisis, China continues to maintain the appropriate pace of grain production. At the same time, there are certain gains in the fight against poverty, some taxes and fees have been reduced.
From the statistical report of the Bank for International Settlements (BIS) December 7 recognizedIt was reported that the total volume of loans extended to China’s non-financial sector in the second quarter reached $51.87 trillion. This amount is comparable in size to three dimensions of an Asian country’s gross domestic product (GDP) and corresponds to 295% of GDP.
Prior to that, the Project Union portal reported that in order for China to develop further and not have budgetary problems, it should start reviving its own economy.