Qin Gang, China’s ambassador to the US made the comments on his Twitter account as he bade farewell to people in various sectors of the US and embarked on his new position as China’s new foreign minister. Qin said that he was “deeply impressed” by hard-working, friendly, and talented American people, and will “continue to care about and support the growth of China-US relations”.
China’s annual GDP came in at 121.02 trillion yuan (US$17.94 trillion) in 2022, a 3% increase year-on-year, according to the National Bureau of Statistics on the 17th. China’s GDP growth in the fourth quarter was not as strong as the third quarter due to the fast spread of COVID-19 within very short time.
China’s economy will grow by 4.3% this year, then rise by 5% in 2024, the World Bank said in its Global Economic Prospects report, released on 10th. “Growth in China is projected to strengthen in 2023 as pandemic-related restrictions ease,” the report said. In addition, the International Monetary Fund has raised its forecast for China’s economic growth to 5.2% in 2023, up 0.8% from its projection in October.
Especially, the holiday consumption mirrored China’s economic vitality. The daily life services sector saw a robust recovery during the New Year’s three-day holiday, and the sector’s daily online consumption value jumped 75% over the 2019 New Year’s holiday when there was no pandemic, according to a report by on-demand retail platform Meituan.
China’s total goods imports and exports surged 7.7% year-on-year to US$6.26 trillion in 2022, hitting a new record, according to the General Administration of Customs of China’s data showed on 13th. Among which the imports climbed 4.3% on a yearly basis to US$2.69 trillion, China’s trade in goods with the US last year surged 3.7% to US$ 751.48 billion.
US agricultural exports to China reached a record high of $36.4 billion, surpassing exports in 2021, and China became the largest US agricultural export market for the second consecutive year. Among them, soybean imports reached a record $16.4 billion, US$2.2 billion higher than in 2021, accounting for about half of the US share of soybean exports.
In recent years, China’s beef imports have continued to climb. Beef imports reached 2.69 million metric tons in 2022, an increase of 15.45% over the previous year. Beef imports have surpassed pork, becoming China’s largest meat imports. From the current trend, beef imports are expected to exceed the 3 million metric tons mark in 2023.
China’s economic performance in 2022 was better than expected and the trade data above looks optimistic. It looks like that it is going to be a very fruitful year in 2023 and everyone here is passionate to take back the time lost in 2022 due to severe pandemic control policy. Both U.S. and Chinese organizations started to initiate and pushing forward new program and events as soon as the Chinese New Year holiday ended.
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