The National Bureau of Statistics (NBS) in February released a communique on economic and social development in 2017, which showed China's contribution to world economic growth stood at around 30 percent in 2017.

 

"Chinese economy remained an important growth engine for the world's economic recovery," NBS chief statistician Sheng Laiyun said.

 

World Bank data showed that China contributed 34 percent of world economic growth in 2012-2016, more than that of the United States, European Union and Japan combined.

 

China's economy expanded 6.9 percent last year to 82.7 trillion yuan (12.8 trillion U.S. dollars), around 15 percent of the world total. Foreign exchange reserves, the world's largest, reached 3.1 trillion dollars, and trade with countries along the Belt and Road rose 17.8 percent to 7.4 trillion yuan (1.15 trillion dollars).

 

The performance not only fuelled optimism for a global recovery, but also secured greater sustainability through domestic consumption, trade and new technology, which increased external demand and international productivity.