China's president says his country has seen a historic rise in its economic strength in the past decade.

Iran PressAsia: China's GDP has grown to 114 trillion yuan (about $16 trillion) from 54 trillion yuan in the past decade and come to account for 18.5 percent of the world economy, up 7.2 percentage points, Xi Jinping said Sunday at the opening session of the 20th National Congress of the Communist Party of China.

Before the opening of a key Chinese Communist Party congress, party leader, head of state and commander of the armed forces Xi Jinping seemed more in charge than ever, having given no indication of stepping away from power or anointing a successor.

The country has remained the world's second-largest economy and its per capita GDP has risen from 39,800 yuan to 81,000 yuan, Xi said, according to CGTN.

China ranks first in the world in terms of grain output, and its manufacturing sector is the largest in the world, as are its foreign exchange reserves, Xi said.

China will unwaveringly support the private economy and let the market play a decisive role in resource allocation, President Xi Jinping said in his speech in Beijing.

China will aim for high-quality economic growth and the next five years will be crucial for building a modern socialist power, he added.


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