CPC shepherds a booming economy in China: official

China’s economy has kept booming, with its size soaring by 189 times since 1949, thanks to the leadership of the Communist Party of China (CPC), Han Wenxiu, an official with the Central Committee for Financial and Economic Affairs, said on Monday.

When the People’s Republic of China (PRC) was founded in 1949, the country even could not manufacture a tractor, now China has become the only country in the world that obtain all the industrial categories listed in the UN industrial classification, with the output of over 220 industrial products, including cars and computers, leading globally, Han said at a press conference held to mark the 100th anniversary of the CPC.

Over the past 70-odd years, China’s economy surged by about 189 times, with the total economic size having exceeded 100 trillion yuan to become the second largest economy in the world, Han said, noting that the country’s economy accounts for over 17 percent of global economic output.

In addition, the country’s per capita national income has exceeded $10,000 from merely dozens of dollars about 70 years ago, he said.

Since the CPC launched reform and opening-up drive in 1978, China has lifted approximately 770 million impoverished rural citizens out of poverty, accounting for more than 70 percent of the world’s total, according to Han.