China took 12.3 per cent of world economy in 2013

Chinese economy consisted about 12.3 per cent of the world total in 2013, Chinese state news agency Xinhua has reported.

According to the National Bureau of Statistics (NBS) China’s GDP was 56.9 trillion yuan (9.32 trillion US dollars) in 2013.

GDP per capita was 41,908 yuan or 6,821 US dollars in 2013.

The data indicates a remarkable difference from 1952, when China’s GDP was 67.9 billion yuan (11.05 billion US dollars) and GDP per capita was just 119 yuan (19.37 US dollars).

The second largest world economy has grown 122 times in the last 60 years with an average growth of 8.2 per cent.

The service sector has also shown outstanding performance. In 1952, agriculture consisted 51 per cent of the total economy followed by service sector 28 per cent and industry 21 per cent.

In 2013, the service sector took largest share with 46 per cent of the total economy.