Chinese President Xi Jinping today considered it “entirely possible” for China to double its total economic production and its ‘per capita’ income by 2035 and join the group of high-income economies in the next five years.
In a speech released by the official Xinhua news agency, following the last meeting of the Central Committee of the Communist Party of China (CCP), Xi also warned of “unstable factors and uncertainties on the international scene” and “hidden risks and dangers that may impact the China’s economic development ”.
“The covid-19 pandemic has had a far-reaching impact and the world economy could suffer a recession,” said Xi, in his speech at the end of the meeting, which ended with China’s proposal to focus on innovation and technology self-sufficiency. as strategic “nuclei” for the next five years.
According to Xinhua, Xi chose to “maintain a balance between openness and self-reliance” so that China “adapts better to the circumstances” and urged the country’s leaders to “make efforts to prevent the risks that could prevent China’s modernization. ”.
According to the note released at the end of the plenary session, Xi said he expected that, “in 2020, China’s GDP will reach 100 billion yuan (12.72 billion euros)”.
In parallel, in the proposal for the next five years, the CPC Central Committee announced as a goal for 2035 to transform the country “into a world leader in innovation” and “achieve a new process of industrialization and urbanization”, as well as guaranteeing the existence of a “Rule of law”.
By then, “China’s GDP will have reached the level of moderately developed countries”, while “the size of the middle class will have expanded significantly”, reducing inequalities.
Chinese leaders also argued that China should become “a strong country in the areas of culture, education, sport and health”.
Carbon dioxide emissions “will gradually decrease” and will peak in 2030. The country will also achieve “modernization of its Army and National Defense”.
The Central Committee defined the political and economic guidelines for the new five-year plan with the aim of “building a new pattern of development”, based on domestic demand.
“It is necessary to promote dual national and international circulation, stimulate consumption and expand the investment space”, reads the statement released after the meeting.
