China’s 2020 GDP is expected to exceed 100 trillion yuan, the country’s Communist Party (CCP) said in a communique following the conclusion of its 5th Plenum, which is focused on the next Five-Year Plan and 2035 vision.
Additional takeaways
China’s development faces both new opportunities and challenges.
International environment becomes more complex.
Will sustain healthy economic development in 2021-2025.
Will take new steps in reforms and opening up.
Will make major breakthrough in reforms of property rights and allow market to allocate key factors.
Will make technology self-sufficiency as strategic support for national development.
Will promote ‘dual circulation’ model.
Will combine efforts to expand domestic demand with supply-side reforms.
China aims to boost per capita GDP to level of moderately-developed countries by 2035.
Will make market play a decisive role in resources allocation.
Will deepen reforms in all aspects.
Will promote coordinated regional development and new urbanisation.
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