china's 14th five-year plan (2016-2020) got off to a good start by remaining a global leader in economic development and improving people's well-being in the face of century-old changes and the pandemic, according to the 2021 statistical communique on national economic and social development released by the national bureau of statistics on tuesday. according to the communique, new breakthroughs were made in china's economic aggregate and per capita level. in 2021, china's economy exceeded 110 trillion yuan and reached 114.4 trillion yuan, making it the world's second largest economy. per capita gdp exceeded 80,000 yuan.
as a chinese saying goes, "we promote development in adversity and open a new chapter in a changing situation." sheng laiyun, deputy director of the national bureau of statistics, commented on the communique that china's economic aggregate will reach us $17.7 trillion in 2021, accounting for more than 18 percent of the world economy and contributing about 25 percent to global growth. china ranks first in the world in terms of trade in goods and foreign exchange reserves, and ranks among the top in the world in terms of trade in services, outbound investment and the size of its consumer market. all these have played an irreplaceable role in promoting global economic and trade recovery and maintaining the stability of global industrial and supply chains.
according to the communique, the national economy has continued to recover and the overall national strength has further increased. in 2021, china's gdp grew 8.1 percent from the previous year, with an average growth rate of 5.1 percent over the past two years, ranking among the world's major economies. industrial development is resilient. in 2021, the added value of the manufacturing industry was 31.4 trillion yuan, an increase of 9.8 percent over the previous year, accounting for 27.4 percent of gdp, an increase of 1.1 percentage points over the previous year. the output of major industrial products steadily topped the world. in 2021, china's output of microcomputers, mobile phones, automobiles and steel will reach 470 million units, 1.66 billion units, 26.53 million units and 1.34 billion tons, respectively, remaining the world's largest.
trade in goods reached a new level. in 2021, imports and exports of goods totaled 39.1 trillion yuan, an increase of 21.4 percent over the previous year, exceeding us $6 trillion at the annual average exchange rate, ranking first in global trade in goods for five consecutive years. the negative list for foreign investment has been shortened, investment facilitation has been improved, and china's complete industrial and supply chains, broad market opportunities and improved business environment have made china a hot destination for foreign investment. in 2021, china actually used 1.1 trillion yuan of foreign direct investment, an increase of 14.9 percent over the previous year, exceeding 1 trillion yuan for the first time.
in addition, comprehensive reform has been deepened and innovation has been unleashed. in 2021, 28.87 million market entities were newly registered, with an average of 25,000 newly registered enterprises per day, and the total number of market entities reached 150 million by the end of the year. in 2021, china's r&d expenditure will reach 2.7864 trillion yuan, an increase of 14.2 percent over the previous year. china's overall ranking of national innovation capacity has risen to 12th in the world.
the economic structure was adjusted and improved, and development became steadily more coordinated. in 2021, the added value of equipment manufacturing grew by 12.9 percent over the previous year, 3.3 percentage points faster than that of industries above designated size, and accounted for 32.4 percent of the total. the contribution of the service sector to economic growth was 54.9%, 16.5 percentage points higher than that of the secondary industry. the added value of information transmission, software and information technology services increased by 17.2 percent year-on-year, significantly faster than all other services. in 2021, the contribution of domestic demand to economic growth will be 79.1%, of which the contribution of final consumption expenditure will be 65.4%, 51.7 percentage points higher than the total capital formation.
strong and effective measures have been taken to ensure people's wellbeing, and people's lives have steadily improved. in 2021, per capita disposable income reached 35,128 yuan, an increase of 8.1 percent in real terms over the previous year and faster than per capita gdp growth. the social safety net is tightly knit. by the end of 2021, more than 1 billion people were covered by basic old-age insurance, and more than 1.3 billion people were covered by basic medical insurance.
source: state-owned assets and administration commission of the state council