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A woman walks past flower decorations along Chang’an Avenue in Beijing, capital of China, on June 19, 2021.

BEIJING, June 29 (BelTA – China Daily) – The Chinese economy has grown 189-fold in real terms since the People’s Republic of China was founded, demonstrating that the country’s economic strength under the leadership of the Chinese Communist Party, a senior, Much progress has been made, the official said on Monday.

“When the PRC was just established, the country couldn’t even manufacture a tractor. Now the country is the only economy in the world that has all of the industry categories classified by the United Nations,” said Han Wenxiu, deputy head of the Central Commission office for finance and business.

“China’s production of more than 220 kinds of industrial products, including automobiles and computers, ranks first in the world,” Han said, adding that the country’s GDP has exceeded 100 trillion yuan ($ 15.48 trillion) and more than 17 percent of the world economy.

Under the party’s leadership, people’s standard of living has also improved tremendously since the PRC was founded more than 70 years ago, as the national income per capita rose from tens of dollars to over $ 10,000, while the average life expectancy rose to 35 Years has risen to 77.3 years, Han said.

Up to 770 million rural residents have been lifted out of poverty in China since the reform and opening up, which he said made up more than 70 percent of the total world population in the same period.

China has embarked on a new path to fully build a modern socialist country that will offer common prosperity for all, coordination of economic development with environmental protection, and peaceful development that seeks mutual benefit with other economies, he said.

The modernization of the country will be “unprecedented” in the history of mankind, given China’s population of more than 1.4 billion, and will contribute more to human progress, he added.

Han made the remarks on Monday at a press conference to celebrate the 100th anniversary of the CPC’s founding.

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