On Thursday, China published the results of its fifth national economic census, revealing a robust economic foundation, strong resilience, and significant potential over the past five years.
According to the census, China's gross domestic product (GDP) in 2023 reached nearly 130 trillion yuan (approximately 18.08 trillion U.S. dollars). As the world's second-largest economy, China has contributed an average of 30 percent to global economic growth over the past five years, solidifying its position as the largest driving force behind world economic growth.
The census underscored improvements in China’s economic structure, with the tertiary industry playing a more prominent role. By 2023, the sector accounted for 56.3 percent of GDP, up over two percentage points from 2018.
Kang Yi, head of the National Bureau of Statistics, reported significant growth in the number of entities and individuals engaged in secondary and tertiary industries. At the end of 2023:
Legal entities in secondary and tertiary industries totaled 33.27 million, marking a 52.7 percent increase from 2018.
These industries employed over 428.98 million people, reflecting an 11.9 percent rise compared with 2018.
The number of self-employed units approached 88 million, collectively employing 179.56 million people.
For the first time, the census included data on the digital economy, emphasizing its growing role in China’s development. By the end of 2023:
China had 2.92 million corporate enterprises operating in the core digital economy, employing 36.16 million individuals.
The annual business revenue of these enterprises reached 48.45 trillion yuan.
Kang highlighted that technological innovation and labor productivity have continued to improve, with noticeable optimization in the industrial structure. Hi-tech manufacturing has expanded, with the proportion of enterprises above the designated size (annual turnover of at least 20 million yuan) in this sector increasing by two percentage points since 2018.
Additionally, 158,000 enterprises above the designated size were engaged in strategic emerging industries, accounting for one-fifth of the total. Research and development (R&D) also saw notable growth, with expenditure rising by 61.9 percent compared to 2018.
The economic census is one of China's critical national surveys, providing a detailed overview of secondary and tertiary industries and offering valuable insights into the country’s economic and social development. Since its inception in 2004, China has conducted four previous economic censuses, in 2004, 2008, 2013, and 2018.
The fifth economic census began in 2023, with a scientifically formulated plan ensuring the authenticity and reliability of data. Quality control measures were implemented throughout the process, and a post-enumeration check—sampling 21,000 units, 1,099 enumeration areas, and 249 county-level regions—reported a combined error rate of 0.47 percent, meeting the national standard for data quality.
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