China's milestone development releases global dividend

Recently, China's economic "report card" for 2019 issued by the National Bureau of statistics of the people's Republic of China is full of bright spots, especially when the per capita gross domestic product (GDP) reaches 10000 US dollars Overseas observers said it was a milestone in China's economic development and showed the strong driving force and huge potential of China's economic development GDP per capita is an important indicator to measure the economic development level of a country or region In 2001, China's per capita GDP reached 1000 US dollars In less than 20 years, China's per capita GDP has grown 10 times According to the website of Nikkei Asia review, the living standards of 1.4 billion people have improved dramatically, which is one of the fastest successful examples in the history of the economy According to the data of the world bank, in 2018, the population of the economy with a per capita GDP of more than 10000 US dollars was nearly 1.5 billion China's per capita GDP has exceeded 10 thousand US dollars, bringing the number of people in the ranks of the world to nearly 3 billion, which is equivalent to the doubling of the world's population with per capita GDP of more than 10 thousand US dollars Overseas media pointed out that this is China's contribution to the world as a developing emerging economy With the growth of GDP per capita, China's huge consumer market has become a "gold mine" in the eyes of enterprises in various countries Andy Rothman, investment strategy analyst at Mingji Asia, said that China is "the best consumer market in the world" From the perspective of consumption scale, in 2019, the total retail sales of social consumer goods in China exceeded 40 trillion yuan, and China is becoming one of the largest consumer markets in the world From the perspective of consumption structure, the service consumption of Chinese residents has increased, and the consumption behavior is increasingly changing to middle and high-end consumption, improved consumption and personalized consumption In order to better meet the upgrading demand of residents' consumption, China has reduced import tariffs many times in recent years From January 1, 2020, China began to implement the provisional import tax rate lower than the MFN tax rate for more than 850 imported goods From frozen pork, frozen avocado, to asthma drugs, to the key components of manufacturing integrated circuits The wide range of goods on the tax reduction list shows China's determination to open its market to the world Holding China International Import Expo is also an important measure for China and the world to share the development dividend Just two months after the end of the second Expo, the French Kaiyun group, which has many luxury brands, has signed a contract to participate in the third Expo Mary Claire dafer, chief sustainable development officer of Kaiyun group, said the fair showed the attraction of the Chinese market China will be the world's most important market for consumer oriented companies, according to IRA Kalish, global chief economist of Deloitte Touche Tohmatsu, a leading accounting firm Kalish believes that China's economy will maintain steady growth and the growth prospects in the consumption sector are very optimistic Early this month, the first batch of domestic Tesla Model 3 electric vehicles were delivered to the outside world It took less than a year for Tesla's Shanghai plant to start construction and deliver cars It has been commented that the key delivered by Tesla opens the door of opportunities to the Chinese consumer market Overseas economic observers pointed out that at present, China is in a critical period of moving towards a high-income country We need to continue to deepen reform and opening up, enhance the resilience of economic development, promote high-quality economic development, and make China's economic development dividend continue to benefit the world.