Lujiazui area in Shanghai Photo:Xinhua

During the 14th Five-Year Plan Period (2021-25), China's GDP is expected to see an increase of over 35 trillion yuan ($4.88 trillion), an amount surpassing that of the third largest economy in the world, said Zheng Shanjie, head of National Development and Reform Commission (NDRC), on Wednesday. 

During the period, China became the most stable, most reliable and most positive force in global development, Zheng stated at a press conference of the State Council Information Office. 

China's GDP is expected to reach around 140 trillion yuan in 2025, Zheng added.

In the first four years of the period, China's average annual economic growth rate reached 5.5 percent, said Zheng. "For an economy of such a large size, combined with the impact of the pandemic and trade bullying, it is unprecedented in the history of economic development that China can maintain such a growth rate on such a large base."

Among the major goals of the 14th Five-Year Plan, the progress on indicators such as economic growth, labor productivity and R&D investment across the whole society was in line with expectations, Zheng said. 

The progress on eight indicators such as the urbanization rate of the permanent residential population, average life expectancy, and comprehensive production capacity of food and energy exceeded expectations, noted Zheng. 

"The strategic tasks determined in the plan were fully implemented, and all the 102 major projects deployed have proceeded smoothly. Overall, new pioneering progress and breakthrough changes were achieved in the past five years," Zheng said.

Global Times