BEIJING, Jan. 18– China’s gross domestic product (GDP) exceeded the 100-trillion-yuan (US$15.42 trillion) threshold in 2020, reported Xinhua news agency based on official data Monday.

The country, which saw its GDP increase 2.3 per cent year on year to 101.5986 trillion yuan last year, is expected to be the only major economy to post growth in the pandemic-ravaged year, according to the National Bureau of Statistics (NBS).

The hard-earned achievement marked a new economic milestone for the Chinese economy, after the country’s GDP per capita exceeded US$10,000 in 2019 for the first time in history.

The advance also came as the world’s second-largest economy won a decisive victory in poverty eradication last year while making historic achievements in the building of a moderately prosperous society in all respects.

In 2020, China’s per capita disposable income rose 2.1 per cent to 32,189 yuan, basically keeping pace with the GDP increase, according to NBS data.


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