Confidence

China's gross domestic product (GDP) expanded 2.3 percent year on year in 2020, exceeding the 100-trillion-yuan ($15.42 trillion) threshold to 101.5986 trillion yuan, data from the National Bureau of Statistics showed.

In the fourth quarter, the country's GDP expanded 6.5 percent year on year, faster than the 4.9-percent growth in Q3, the data showed.

The Chinese economy is expected to show a better performance this year, seen from the growth targets unveiled at the ongoing annual sessions of provincial-level legislatures and political advisory bodies.

Many areas, including Beijing, Shanghai and Guangdong, have set their 2021 GDP growth targets to 6 percent or above with provinces of Hainan and Hubei targeting a 10-percent growth.

At the ongoing session of the 15th Beijing Municipal People's Congress, Li Xin, a municipal lawmaker, showed great confidence in the country's epidemic control as well as its economy.

"We take a sanguine view of the economy and believe that it would present itself with a flying start in the first quarter," Li said.