China's GDP increases more than 170 times over 70 years: official

China's gross domestic product (GDP) increased by 174 times from 1952 to 2018, according to Ning Jizhe, deputy head of the National Development and Reform Commission.

Robotic arms are busy working on the assembly line in Geely Auto factory in Ningbo, east China's Zhejiang province, Oct. 25, 2018. [Photo/Xinhua]

During the same period, the per capita GDP witnessed a 70 times expansion from 119 yuan (about US$16.8) to 64,600 yuan, Ning told a news conference Tuesday.

Ning said China has grown into the second largest economy, the largest trader of goods, the holder of the largest foreign exchange reserves, the second largest trader of service, the second largest user of foreign capital as well as the second largest outbound investor.

Over the past seven decades, China's fixed-asset investment has kept growing rapidly, enhancing the level of agricultural productivity, industrial equipment and infrastructure networks, Ning added.

By the end of 2018, both the mileage of high-speed railways and expressways in China ranked the first in the world, said Ning.