China’s Economy in a Global Context

THE National Bureau of Statistics has released key figures on the Chinese economy in2014.As expected,China’s growth rate as measured by GDP was7.4 percent,the lowest since 2002.Over the past 15 years,China’s average annual GDP growth was 8.9 percent.The size of the Chinese economy has thus increased nearly eight fold from RMB 8.94 trillion(US$1.43 trillion)in 2000 to RMB 63.64 trillion(US$10.18 trillion)in 2014.China has created a true economic miracle.