Commentary: China’s Economic Census Shows Strong Growth and Global Impact

## Steady Progress Amid Global Challenges

The Fifth National Economic Census results reveal China’s resilient economic journey over the past five years. Despite facing numerous global challenges, China’s economy has managed to stabilize, significantly supporting the global economy, as noted by China Media Group (CMG).

## Census Insights: A Growing Economy

Released on Thursday, the economic census is a crucial survey of China’s development, conducted every five years since 2004. Its purpose is to evaluate the progress of the secondary and tertiary industries. These insights are essential for formulating the country’s five-year plans. By 2023, the number of enterprises in these industries surged by a staggering 52.7% compared to five years prior.

– **Legal Entities Growth**: Increase of 52.7% in the past five years.
– **GDP Adjustment**: Reflects a 2.7% increase for 2023.

Withstanding external pressures, China’s economy has seen structural optimization, innovation-driven growth, and a green transition.

## Quality Over Quantity: Innovation and Green Transition

China’s economic quality has improved significantly, evidenced by a 65.1% rise in invention patent applications by 2023.

### Table: Growth in Strategic Sectors

| Year | Invention Patent Applications | Enterprises in Strategic Industries |
|——|——————————-|————————————-|
| 2018 | Baseline | Baseline |
| 2023 | Increased by 65.1% | 158,000 enterprises |

Furthermore, the green transition has accelerated, with new energy vehicles reaching 9.458 million units produced in 2023. For context, [China’s contribution to the global NEV market](https://www.reuters.com/article/china-autos/china-remains-global-leader-in-nev-production-as-demand-surges-idCNL3N2I2049) stands at over 60%.

## Embracing the Digital Economy

This census, notably the first to include content on the digital economy, underscores China’s technological advancements. The digital economy sectors granted invention patents account for over 40% of the global total. These innovations bolster global digital progress and cooperation.

### Noteworthy Statistics

– **Digital Economy**: Over 40% of global invention patents.

## A Resilient Manufacturing Sector

China’s manufacturing underwent rapid restoration and enhanced its capacity, ensuring the global supply chain’s smooth operation. This resilience has bolstered confidence among multinational companies. BMW and Sanofi, for instance, are expanding investments in China, reflecting the enduring confidence in its economy.

### Impact on Global Economy

The IMF research shows that a 1% rise in China’s economy boosts other economies by 0.3 percentage points. China’s commitment to high-level global engagement, emphasized in the recent Central Economic Work Conference, reassures the world of its stabilizing role.

## Celebrated Milestones: Panda Cub Festivities

Meanwhile, at the Chongqing Zoo in Southwest China, celebrations unfolded for a giant panda cub turning six months old. This adorable milestone included the cub exploring a slide and a mushroom decoration made of crushed ice. Visitors, such as Hu Shan from Shanghai, expressed delight at witnessing the cub’s playful antics.

### A Brief History of Chongqing Zoo’s Panda Breeding

Established in the 1960s, the Chongqing Zoo has been raising and breeding pandas. Haoqi, a resident panda, gave birth to her second cub, who now weighs 12 kilograms, marking the zoo’s 32nd panda litter since the 1980s.

By reflecting on these accomplishments, both economic and zoological, China not only secures its future but also continues to enchant and engage the world.

[Explore more on China’s panda conservation](https://www.worldwildlife.org/species/giant-panda).