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China's GDP grew 8.1 percent in 2021, exceeding the government's annual target. The high growth in 2021 came after a 2.3 percent expansion in 2020, when the world's second-largest economy was hit hard by the COVID-19 pandemic in the first quarter but staged a rapid recovery later in the year. With 1.4 billion population, China has been the world's second-largest economy since 2010, after the United States. As the global economy reeled from the pandemic, China was the only major economy to report positive growth in 2020. The country's economy grew 6.5 percent in the fourth quarter of 2020 from a year earlier.
According to the National Bureau of Statistics, China's GDP reached 114.37 trillion yuan ($17.7 trillion) in 2021. Retail sales, a key gauge of consumption, increased 12.5 percent year-on-year in 2021, following a 3.9 percent increase in 2020. Fixed-asset investment, a driver of domestic demand, rose 4.9 percent last year, compared with a 2.9 percent increase in 2020. Exports surged 29.9 percent year-on-year in 2021, while imports grew 30.1 percent.
The strong economic performance reflects China's effective containment of the COVID-19 pandemic and the country's resilience in addressing external challenges. China's economy has shown strong recovery momentum, with gross domestic product (GDP) expanding 8.1 percent in 2021 after growing 2.3 percent in 2020.
Despite the impressive growth, China still faces challenges, including mounting debt levels, a slowing property market, and rising raw material costs. The central government has taken a raft of measures to boost consumption, investment and exports to keep the economy on a steady growth track.
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We accept order cancellation before Within 24 hours the product is shipped. If the order is cancelled you will get a full refund.
If for any reason you are not satisfied with the purchased item,You have 30 days after delivery of your order to return an item.
After 30 days of delivery of your order, we will no longer accept returns.
To request a return,please email us at:[email protected] ,We will respond within 24 hours after
the consumer sends the email (except weekends).
If it is a quality issue, please
provide an order number and attach clear photos of the items that represent the
issue.
After we receive the returned order, our Quality Assurance department will
inspect and verify the condition of the item.Upon acceptance of your return, a refund
will be issued to the original form of payment within 1-3 business days.
Items returned without authorization will not be accepted.
The time frame for return
must not exceed 30 days from when the original order was received.
Any promotional
gifts must also be returned with your returned item.
All items must be returned in
their original condition, without scratches or signs of wear, and must not be resized or
altered in any way.
Your return needs to be sent within the given time frame(3-12
working days)
Please make sure you provide us the tracking# and receipt after you
return.
Once your return is received and inspected, we will send you an email to notify you that we have received your returned item. We will also notify you of the approval or rejection of your refund.
If you are approved, we will credit the credit limit to your credit card or original payment method within 5 business days (bank processing time frame).
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