China’s economy grew 6.6 percent year on year in 2018, beating the official annual target of around 6.5 percent, data from the National Bureau of Statistics (NBS) showed.
The country’s gross domestic product (GDP) hit 90.03 trillion yuan (about 13.32 trillion U.S. dollars) in 2018.
The following are a group of facts and figures released by the NBS on its solid economic performance last year.
- China’s fixed-asset investment grew 5.9 percent year on year in 2018, 0.5 percentage point faster than that recorded in the first three quarters.
- Total retail sales of consumer goods rose 9 percent year-on-year to 38.1 trillion yuan in 2018.
- Import and export volume hit a historic high of 30.51 trillion yuan in 2018, up 9.7 percent year-on-year, hitting a record high.
- Industrial output expanded 6.2 percent year-on-year in 2018, slowing from 6.6-percent growth in 2017.
- The service sector ticked up 7.7 percent year-on-year in 2018.
- Consumption, which has played a prominent role in driving growth, contributed 76.2 percent of the GDP in 2018.
- Per capita disposable income stood at 28,228 yuan in 2018, up 6.5 percent year-on-year in real terms.
- Per capita consumer spending increased by 6.2 percent year-on-year in real terms to reach 19,853 yuan in 2018. The increase was 0.8 percentage points faster than the previous year.