China to be a ‘moderately developed’ economy by 2035: CPC plenum

Source: Global Times Published: 2020/10/29 18:39:50

 File photo:VCG

China is aiming to become a moderately developed economy by 2035, with “big leaps” in a wide range of areas from economic strength and technological prowess to overall national capability, according to the communiqué of the fifth plenary session of the 19th Central Committee of the Communist Party of China (CPC).

The communiqué was released following the conclusion of the four-day meeting, where top CPC officials also reviewed proposals for the country’s 14th Five-Year Plan (2021-2025) for social and economic development, as well as development visions through 2035.

By 2035, China’s economic scale and income for urban and rural residents will reach new and much higher stages, major breakthroughs will be made in core technologies, and China will become a global leader in technology innovations, the communiqué reads. 

“Per-capita GDP will reach the level of a moderately developed country, with the size of the middle-income residents expanding significantly,” according to the communiqué. 

The ultimate development goal to become a moderately developed country marks a milestone for the country of more than 1.4 billion people, and a bulging middle-income population would keep driving sustainable growth, a key part of the country’s “dual circulation” development strategy that will focus on domestic economy growth, experts said.

China will also make improvements in a wide range of areas, including governance, the legal system, culture, education, sports, healthcare and environmental protection. By 2035, China will continue to cut carbon dioxide emissions after they peak, the communiqué said. 

Global Times 

Posted in: ECONOMY

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