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BEIJING, Jan. 21-- Amid external uncertainties and a rise in protectionism, China's gross domestic product (GDP) expanded 6.6 percent year on year in 2018, illustrating the resilience of its economy. China's GDP totaled 90.0309 trillion yuan (13.28 trillion U.S. dollars) in 2018, statistics released on Monday show. The figure was achieved in the context of domestic reforms entering a critical phase and China steadfastly furthering its efforts to open up to the rest of the world. In such a complex environment marked by tight global liquidity and increased market uncertainties, this economic resilience will allow China to remain on its own course of pursuing more market-driven growth. Over the past year, China's economic development targets have been fulfilled and supply-side structural reforms have further advanced. China has deepened its reform and opening up and largely improved the well-being of its people. Goals to cut redundant capacity in the steel and coal sectors were achieved as de-leveraging steadily pushed forward. A reduction in taxes and fees nationwide totaled more than 1.3 trillion yuan, beating forecasts. Housing inventories shrank. The resilience of the Chinese economy stems from stable macroeconomic policies. Furthermore, efforts are made to constantly increase economic vitality. At the micro level, China's decision-makers pay more attention to pro-cyclical and countercyclical fine-tuning. | 
