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China's economic growth pace has been one of the fastest among major economies, Ning said.
China's faster rebound is a rare positive for a global economy still clawing its way out of its worst slump since the Great Depression. The International Monetary Fund sees global output by the end of 2021 being 0.6 percent higher than the end of 2019, driven almost entirely by China, Bloomberg reported, and the proportion of worldwide growth coming from China is expected to increase from 26.8 percent in 2021 to 27.7 percent in 2025.
China's consumer trend index, released by global market consultancy Nielsen to measure consumer confidence, remained high in the second quarter of this year.
China's entrepreneurship and innovation are based on extensive public participation. Not only enterprises and research institutions are engaged in this effort, but more and more ordinary people are also joining in to make the best of their creative capabilities. This is aptly described by a Chinese idiom: Eight immortals crossing the sea, each with their own magical power. For the past three years since 2014 when we first put forward this initiative, an average of 40,000 new market entities have been set up every day, including some 14,000 newly registered enterprises. Business activity rate has stood at around 70%, and in May, the daily count of newly registered enterprises even reached 18,000.
China's first living-donor small intestine transplantation between family members succeeded in 1999. Sixteen such surgeries have been performed ever since. One of the patients has lived nearly 20 years with the transplant and is among the world's most long-lived bowel transplant recipient.