China expects bright economic future in coming years

China is confident that the coming five years will bring about a bright future for its economy, the Chinese Foreign Ministry Spokesperson Hong Lei said.

In statements Thursday, he said China's GDP grew by 6.9%, a growth rate faster than that of most other major economies. That was achieved at a time when China's economic output had exceeded 60 trillion yuan. 

Every percentage point of GDP growth today is equivalent to 1.5 percentage points of growth five years ago or 2.5 percentage points of growth ten years ago. 13.12 million new urban jobs have been created over the course of last year, surpassing the year's target. Restructuring made important progress. 

The ratio of service sector to GDP rose to 50.5%, accounting for more than half of GDP for the first time. New driving forces for development grew rapidly. Further progress was made in implementing the strategy of innovation-driven development, the penetration of the Internet into all industries picked up pace, and emerging industries grew rapidly. Business startups and innovations by the general public flourished, with the number of newly registered businesses rising by 21.6% in 2015. 

New driving forces played a major role in keeping employment stable and pushing ahead industry upgrading, and are now driving profound economic and social changes in China.

Source : MENA