As the second largest economy in the world, China’s economy has shown astonishing growth over the past years.

In 2021, faced with multiple tests of grave and complex international environment and sporadic outbreaks of the pandemic at home, the Chinese government further consolidated the efforts in stabilizing the six sectors (employment, finance, foreign trade, foreign investment, domestic investment, and market expectations), fully implemented the policies and measures of safeguarding the six areas (employment, basic living needs, operation of market entities, food and energy, stable industrial and supply chains, and normal functioning of primary-level governments), strengthened the macro polices for cross-cyclical adjustment, and enhanced the support to the real economy. As a result, the national economic recovery and development were sustained, the reform and opening up and innovation were further advanced, new achievements were made in building a new development pattern and high-quality development.

In 2021, the national import and export of goods was 39, 1 trillion Yuan, an increase of 21.4% from 2020, making China’s economy to shoot up to a noticeable spot in the global economy. Since China began to open up and reform its economy in 1978,more than 800 million people have been lifted out of poverty. In 2021, China achieved its first centenary goal of building a moderately prosperous society in all respects. The unemployment rate fell by 0.5 % in 2021 and over 12 million new jobs were created- an increase of 830 000 compared to 2020.Industries like wholesale and retail contributed largely to the overall employment stability. College graduates and rural migrant workers were employed and the living standards of common people greatly improved. China also implemented tax cuts and extended support for businesses mostly affected by the Covid- 19 pandemic. It is forecasted that China could create 88 million new jobs by 2030 according to a report by the World Economic Forum.

According to data published by the International Monetary Fund in January 2022, the gross domestic product (GDP) growth rate in China was 8,1% in 2021. In 2022, China's economy is expected to maintain rapid growth.

Behind China’s unstoppable, sustainable economic growth is President Xi Jinping’s  leadership which has addressed several arduous and formidable problems like drastic changes in the international situation and the great challenges and pressure brought by the global epidemic, economic imbalances, environmental issues and economic inequality. The government continues to boldly show support for economic activity in the country and beyond.

China is Africa’s biggest source of foreign direct investment. It’s financial support has  been crucial to African countries in the last two decades. Loans provided by China from its government and state owned banks have aided in the construction of  infrastructure projects across the continents including hospitals, power plants, highways, railways, airports and government buildings and schools. It’s direct investment in Africa hit $2,59 billion by September 2021, an increase of 9.9% from the previous year. During FOCAC (Forum on China- African Cooperation) in November 2021, President Xi Jinping  highlighted nine programs that will be implemented which are medical and health programme, poverty reduction and agricultural development programme, trade development programme,  investment promotion programme, digital innovation programme , green development programme, capacity building programme , cultural and people to people exchange programme and peace and security programme. These programs will further strengthen and promote China –Africa and China- South Africa cooperation.

China’s sustainable economic development  has also made  positive contributions to the world  in light of the Covid- 19 pandemic. German owned firms which operate in China recorded positive growth according to the German Chamber of Commerce in China and they are confident they will have further mark.