China's Economic Growth Under Xi Jinping's Leadership

Chinese President Xi Jinping was re-elected as the General Secretary of the Chinese Communist Party (CCP) for a third term on Sunday (23/10/2022).

This means Xi Jinping will continue to lead the CCP for the next five years, solidifying his position as the most powerful figure in China since the era of Mao Zedong.

Xi Jinping has led the CCP since November 2012 and has served as President of China since March 2013. During his leadership, China has consistently been Indonesia's largest trading partner.

From 2012 to 2019, under Xi Jinping's leadership, China's economy grew at over 5% annually. However, the COVID-19 pandemic slowed the economy, resulting in a growth rate of only 2.24% in 2020.

China's economy rebounded in 2021, growing by 8.11%. However, in 2022, the economy is expected to slow again, with growth reaching only 2.5% in the first half of the year.

Meanwhile, Indonesia's economy grew at over 4% annually from 2012 to 2019. The early stages of the pandemic caused a contraction of 2.07%, but the economy rebounded in 2021, recording a growth of 3.69%.

In the first half of this year, Indonesia's economy grew by 5.23%, exceeding China's growth rate.

From January to September 2022, Indonesian exports to China reached US$45.29 billion, representing 21.83% of total national non-oil and gas exports, which amounted to US$207.19 billion.

During the same period (January-September 2022), Indonesia's imports from China reached US$50.29 billion, representing 33.88% of total national non-oil and gas imports, which amounted to US$148.44 billion.