China has registered rapid economic growth over the past 75 years since the founding of the People's Republic of China (PRC) in 1949, with an unprecedented leap in the national economic strength and marked growth in the per capita GDP, according to a report released by the National Bureau of Statistics (NBS) on Monday.
The NBS report indicated that China's economic aggregate has continuously hit historic marks over the past 75 years, with the GDP climbing from 67.9 billion yuan (about 9.5 billion U.S. dollars) in 1952 to more than 126 trillion yuan (17.7 trillion U.S. dollars) in 2023, making it the world's second largest economy, according to data quoted by the report.
Computed by constant prices, China's GDP in 2023 was 223 times that of 1952, with an average annual growth rate of 7.9 percent. Remarkably, the average annual growth rate from 1979 to 2023 was 8.9 percent, much higher than the 3 percent average growth rate of the world economy during the same period.
China's per capita GDP has leaped 89 times from 1952, with an average annual growth rate of 6.5 percent, the report said. The per capita GDP in 2023 was 89,358 yuan, or 12,681 U.S. dollars at the average annual exchange rate, surpassing the 12,000-U.S.-dollar mark for the third consecutive year, demonstrating a steady growth in output by population.
According to data and classification criteria of the World Bank, China's per capita gross national income (GNI) reached 13,400 U.S. dollars in 2023, which indicates that China has risen from a low-income country in 1949 to an upper-middle-income country so far.
In the early years of the PRC's founding, the country's total economic output accounted for a very small proportion of the world's total, only 1.7 percent in 1978, ranking the 10th in the world.
Since China adopted the policy of economic reform and opening up in 1978, it has witnessed continuous rapid growth. Its average annual contribution rate to the world's economic growth reached 24.8 percent from 1979 to 2023, ranking the first globally.
Over the past 75 yeas, China has become the world's largest manufacturing power, the largest trader in goods, the second largest consumer of goods and the largest holder of foreign exchange reserves.
China has also achieved a magnificent turn from the edge of the world system to the center of the world stage, becoming an important participant, builder and contributor to the international system, the report said.
China achieves historic leap in building national strength over past 75 years: report
The rising popularity of Guochao, also known as the trend of "China-chic", has contributed to a consumption boom and more diversified consumption scenarios ahead of the Mid-Autumn Festival.
China-chic refers to fashion trends native to China, which incorporates unique native cultural elements into the latest trends.
For this year's Mid-Autumn Festival, the brand-new event "The Empress's Mid-Autumn Feast" at the Mingtang Tiantang Scenic Area in the National Archaeological Site Park of Sui-Tang Luoyang City in central China's Henan Province has attracted many visitors.
Through interactive experiences such as the performance of court music and dance, and the Empress Wu Zetian bestowing incense, it recreated the Mid-Autumn Festival celebrations in the Tang Dynasty (618-907) palace, allowing visitors to fully immerse themselves in the festive atmosphere of the holiday.
The "Hanfu craze" in Luoyang City has led to an increase in the number of tourists visiting scenic spots and has extended the overall economic chain. This trend has boosted the popularity of services such as Hanfu rental, makeup and styling, and professional photography, making them widely popular.
In Luoyang's Luanchuan County, activities such as the "Fairy Palace Moon Viewing Party" at the peak of the Laojun Mountain, which stands over 2,000 meters above sea level, have driven a surge in business for the Hanfu stores at the mountain's summit, leading to a peak in consumer activity.
"This year's Mid-Autumn Festival is witnessing an increase of over 50 percent in Hanfu rentals and sales, as well as travel photography services, compared with the same period last year. With such beautiful scenery as a backdrop, the demand for traditional China-chic consumption remains strong," said Jin Ge, owner of a Hanfu store atop the Laojun Mountain.
Driven by the rise of China-chic, creative cultural products are continuously updated with new offerings.
At a glazed glass workshop in Zibo City, east China's Shandong, skilled workers were busy crafting creative glassworks featuring lively jade rabbits, a symbol of the Mid-Autumn Festival.
As soon as the products hit the market, they quickly became popular both online and offline.
"While inheriting tradition, we've been exploring something new, developing creative products that better meet current market demands, thus winning the favor of a wide range of consumers," said Liu Jianhua, deputy general manager of Xiye Workshop.
The Mid-Autumn Festival, celebrated on the 15th day of the eighth month in the Chinese lunar calendar, is a cherished occasion for family reunions in China. It falls on September 17 this year.
China-chic boom fuels consumption for Mid-Autumn Festival
