【Sino-Flare】4. Why is China's economy booming

In the 40 years since the reform and opening-up, China's economy has grown rapidly, with an average annual growth rate of nearly 10%. Especially after China's entry into WTO in 2001, its GDP has exceeded that of many G7 countries. It surpassed France in 2005, Britain in 2006, Germany in 2007, and Japan in 2010. At present, China's economy accounts for 18% of the world's total, and its contribution to world economic growth is over 30%. In the future, it will still maintain medium to high growth for a long time. It is expected to become the world's largest economy before 2030.