Overall, although the epidemic has had an impact on China's catering industry in the past two years, it has also accelerated the transformation of the industry and brought historic development opportunities. Under the guidance of the vision put forward in the 14th five year plan and the guiding policies of China's catering industry, the catering industry will recover steadily. Catering enterprises will seize the opportunity, seize the momentum, and with the assistance of the capital market and the support of digital schemes, they will be able to move towards the road of high-quality development and walk steadily on the road of catering economic recovery.
2021 is a milestone year in the history of the party and the country, the Centennial birthday of the Communist Party of China and the opening year of the 14th five year plan, and the historical intersection of the goals of the "two centenaries". During this year, China successfully achieved its first Centennial goal, built a moderately prosperous society in all respects on the land of China, historically solved the problem of absolute poverty, and embarked on a new journey of building a modern socialist country in an all-round way. At the same time, the century changing situation and the century epidemic situation are superimposed. The epidemic of pneumonia caused by New Coronavirus has not dissipated, and the variant strains are widely spread throughout the world. The epidemic situation of China is highly concentrated and the situation is distributed in many parts of the country. Nevertheless, China's epidemic prevention and control still remains a world leader compared with the world.
Generally speaking, the overall epidemic situation in China has remained relatively stable, and China's economy has been able to recover continuously. In 2021, China's GDP increased by 8.1% compared with that in 2020, and its economic growth rate ranked among the top among the world's major economies; The total economic output reached 114.4 trillion yuan, breaking through 110 trillion yuan. Converted at the annual average exchange rate, it reached 17.7 trillion US dollars, ranking second in the world and accounting for more than 18% of the global economy. The "troika" has made positive contributions to economic growth. In 2021, final consumption expenditure, total capital formation and net exports of goods and services drove economic growth by 5.3, 1.1 and 1.7 percentage points respectively, and the contribution rates to economic growth were 65.4%, 13.7% and 20.9% respectively.
