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China Daily / 2024-06 / 19 / Page009

High-quality growth boosts investors' confidence

By Helen Han | China Daily | Updated: 2024-06-19 00:00
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China's major targets for this year include a GDP of about 5 percent, the creation of 12 million jobs and keeping the increase in inflation below 3 percent.

Since 2015, China has been the world's largest economy by GDP(purchasing power parity), with substantial improvements in people's purchasing power and standard of living. First, people's standard of living has improved due to factors such as the increase in per capita GDP. As a result, China now has the largest middle-income group in the world — more than 400 million people.

Second, people's living cost is relatively low because the prices of goods and services in China are lower than in other countries.

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