Data released by the National Bureau of Statistics Friday showed China's GDP grew 7.8 percent in 2012, higher than the 7.5 percent target the government set earlier last year. Urban residents each earned 26,959 yuan ($4,279) on average last year, with their disposable income rising 9.6 percent. Gini coefficient has been falling back since 2008, indicating the country's narrowing income gap.
The country's economic performance is encouraging, especially with figures showing many areas have been picking up in the fourth quarter.
Pessimistic rhetoric about China's economy persisted all through 2012, even though it contradicted with reality. Apparently, we live in a country surrounded by not-so-objective comments and reports from outside.
As the world economy still struggles, it is vital for China to maintain a certain growth rate. Economic growth not only ensures more jobs and greater incomes, but also elevates the country to a more favorable position in global competition.
It is common knowledge in China that the economy should not grow too fast, as resources and society will not be able to bear it. However, some people have been drumming up a theory that puts GDP growth on the other end of the pursuit for equality and common prosperity. The battle against "GDP-only growth" has become a campaign to discourage any economic growth.
GDP may not precisely reflect all economic aspects of a country, but it is still one of the most significant economic indicators. In the past, assessment of the performance of local government officials focused too much on GDP. But those days are gone.
China's GDP has been outgrowing the major world economies. On one hand, GDP growth should not be the government's main goal; in fact, there is no official timetable to catch up with any country. On the other hand, it is not bad that China's economy keeps it second in the world, with its leapfrog into first possible in a decade or two. A new economic order could take shape, which would give China greater leverage to realize its economic and strategic goals.
China's accomplishment in GDP growth does not mean everything has been going well in the country. There are still various problems to solve and reforms must carry on. But at least China's economic performance in an unfavorable year gives us more confidence than many others that we are moving forward.
The coming years will be a period for China to show its perseverance. Some people have been painting a hellish picture of China in contrast to what they consider heaven: the West. But if China's economy continues striding forward as those in the West continue suffering, China's development path will eventually earn respect from the world.