China’s economy has taken the lead among major economies over recent years, remaining a significant engine fueling global economic growth, an official with the country’s top economic planner said.

Yuan Da, director of the Department of National Economy of the National Development and Reform Commission (NDRC), told a press conference on Wednesday.

According to him, from 2020 to 2022, China’s economy posted an annual average growth of 4.5 per cent, higher than the world level of around two per cent.

The National Bureau of Statistics on Tuesday reported that China’s economy grew three per cent to a record high of 121 trillion yuan (18 trillion U.S. dollars) in 2022.

“The achievement has been made amid repeated shocks of multiple unexpected factors,” said NDRC official Jin Xiandong.

Jin noted that the increment of China’s economy from 2021 to 2022 was 6.1 trillion yuan, which is a large amount and equals the economic aggregate of a medium-sized country.

Yuan also said China has the confidence, conditions, and ability to further promote its overall economic growth in 2023.