China’s Achievements Over 70 Years

China has made significant achievements in economic development from 1949 to 2019.
02 Oct 2019 10:00
China’s Achievements Over 70 Years

China has made significant achievements in economic development from 1949 to 2019.

In the past 70 years, China’s Economy has experienced significant historic changes.

October 1st is the 70th anniversary of the founding of The People’s Republic of China.

The country’s major economic and social aggregate indicators in the world has further increased, including its international status and global influence.

These are the numbers behind the miracle

i. Growing to be the Second Largest Economy

The Republic of China become the world’s second-largest economy from scratch and become a top engine for global economic growth.

Its Gross Domestic Product (GDP) is om billion yuan since 2010.

Since 2003, China has signed 17 free trade agreements with 25 countries and regions.

In 2018, China’s contribution to global economic growth was 27.5%, 24.4% higher than that in 1978.

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ii. Upgrading Industrial Structure

Currently, China’s output of over 200 industrial products ranks first in the world.

iii. Leapfrogging infrastructure construction: 

By the end of 2018, China’s railway mileage totaled 132,000km, inclusive of high-speed railways reaching 30,000km.

This ranks number one in the world and accounts for two-thirds of the global total.

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iv. Coordinating development of different regions

Urbanised cities  have increased from 132 in 1949 to 672 in 2018.

While the rate from urbanisation has elevated from 10.50% to 59.6%.

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Three new types of urban cities have been implemented as well, including for special, small (urban) towns.

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v. Increase in international collaboration

The total imports and exports of goods have gone up from $1.13 billion for $4,600 billion and the total volume of imports and exports of services stands at an alarming $791.9 billion from $4.69 billion.


vii. Emphasizing innovation and education
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viii. Marking achievement in people’s livelihoods and poverty reduction

The life expectancy of Chinese people has been continuously increasing from the age of 44 (1960) to 77 (2017).

The number of people living in poverty has lowered from 770 million in 1978 to an astonishing 16.6 million last year.

The poverty ratio in rural areas as dropped 95.8% during the same period with an average decrease of 2.4%.

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