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Third, it is their ability to endure hardships. As the Chinese saying goes, "smooth and glossy jade is created by hard grinding". China's GDP has been growing at an average annual rate of about 9.5 per cent and has increased by 33.5 times over the past 40 years. It now stands at $12?trillion (9.4 trillion pounds) and accounts for 15.2 per cent of the world's total, compared with 1.8 per cent 40 years ago. Disposable income has increased by 22.8 times; average life expectancy is up from 67.8 in 1981 to 76.7 in 2017; and the world's largest social security system has been established, covering old-age pensions, healthcare, allowances and welfare housing. These achievements are neither windfalls nor hand-outs. They are the result of the persistent efforts of the Chinese people.
Fourth, it is their readiness to embrace the world. In the past 40 years, China has hosted more than $2 trillion (1.6 trillion pounds) of foreign direct investment, made $1.9 trillion outbound investment, become the largest trading partner of more than 120 countries and contributed to 30 per cent of global growth. From establishing the Shenzhen Special Economic Zone to becoming a member of the WTO, opening coastal and border areas to developing the western inland region, setting up pilot free trade zones to building the Belt and Road, China has turned from a closed country to an open one.
Third, it is their ability to endure hardships. As the Chinese saying goes, "smooth and glossy jade is created by hard grinding". China's GDP has been growing at an average annual rate of about 9.5 per cent and has increased by 33.5 times over the past 40 years. It now stands at $12?trillion (9.4 trillion pounds) and accounts for 15.2 per cent of the world's total, compared with 1.8 per cent 40 years ago. Disposable income has increased by 22.8 times; average life expectancy is up from 67.8 in 1981 to 76.7 in 2017; and the world's largest social security system has been established, covering old-age pensions, healthcare, allowances and welfare housing. These achievements are neither windfalls nor hand-outs. They are the result of the persistent efforts of the Chinese people.
Fourth, it is their readiness to embrace the world. In the past 40 years, China has hosted more than $2 trillion (1.6 trillion pounds) of foreign direct investment, made $1.9 trillion outbound investment, become the largest trading partner of more than 120 countries and contributed to 30 per cent of global growth. From establishing the Shenzhen Special Economic Zone to becoming a member of the WTO, opening coastal and border areas to developing the western inland region, setting up pilot free trade zones to building the Belt and Road, China has turned from a closed country to an open one.
