China's Economic Resilience Revealed

The results of China's fifth national economic census demonstrate the country's strong economic foundation and resilience in the face of global challenges. The census, which revised the GDP to 129.4 trillion yuan, indicates a growth of 3.4 trillion yuan over preliminary estimates, showing the economy has maintained a stable and progressive development trend. Notably, the tertiary industry has emerged as a significant driver of growth, contributing 56.3 percent to GDP in 2023, up from previous years, and highlighting the increased number of service-oriented businesses. Key insights from the census affirm that despite external uncertainties, China's economy is fortified by innovative strategies and robust employment patterns, with ongoing efforts to address challenges faced by specific labor groups.