The world second largest economy grossed a total of 74.41tr RMB Yuan or an average of about US$11tr in 2016, according to China National Bureau of Statistics.
That rate was a growth leap of 6.7% GDP and a little above the 6.5% growth projected by the government in the first week of March last year during the agenda setting at the Two Sessions.
From the outcome, experts view the economic growth as good sign for the first year of the 13th Five-Year Development Plan of China.
The year in review was the first of the five-year plan and the first development plan initiated by the President Xi Jinping administration that had inherited an existing plan in September 2013 when he came to power.
China from the inception of the Communist Party of China (CPC) has operated Development plans that run for five years per segment, and with the 13th segment in focus, that will end in 2020, its end would have signaled 65 unbroken years of the process that sped up China’s economic emancipation especially since the Reforms and Opening Up era that started in about 1979 under Deng Xiaoping.
In the year 2015, China’s economic volume was 63.6tr RMB Yuan.