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China's 2021 GDP Grows 8.1%

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2022-02-07
     National Bureau of Statistics of China reveals that China's 2021 GDP reached RMB 114.367 trillion, up 8.1% year over year. Q1 grew 18.3%, Q2 grew 7.9%, Q3 grew 4.9% and Q4 grew 4%.
 
     Calculated in USD, China's national domestic GDP was USD 17.7 trillion in 2021 and was ranked second in the world. According to IMF's forecast, U.S. economy grew about USD 2 trillion in 2021, but China grew USD 1 trillion more than the U.S and will reduce the gap with the U.S. economic scale. The GDP gap between the U.S. and China was USD 6.2 trillion in 2020, and by 2021 that gap shrunk by around USD 1 trillion. China's total GDP is likely to reach 77.3% of U.S. total GDP.
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