Report: China’s speed of development rarely seen

The speed of China’s development has rarely occurred in economic h

istory, with the country’s economic aggregate breaking 90 trillion yuan over the last 70 yea

rs for China to become the world’s second-largest economy in 2018, said financial news outlet Yicai on Friday.

In 1952 China’s GDP was 67.9 billion yuan, with per-capita GDP standing at 119 yuan.

In 2018 the two figures surpassed 90 trillion yuan and 64,644 yuan, making for respective multiplications of 1,325 and 542 times.

The first Five-Year Plan (1953-1957) began China’s industrialization, concentrating efforts on developing heav

y industry and establishing the foundations for the modernization of national defense.

On the plan’s completion in 1957, China’s GDP reached 106.9 billion yuan, a 57 percent increase compared with 1952.

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