China Says It Needs 4.7% Annual Growth to Reach 2035 GDP Target

A Chinese official said the country’s average annual growth needs to reach 4.73% to achieve a 2035 target of doubling the size of its economy.

China has the conditions to meet the goal, said Yang Weimin, deputy director of an economic committee under the nation’s top political advisory body.

President Xi Jinping said in recent weeks that it is “completely possible” for China’s economy to be twice the size by 2035. In late October, top Chinese leaders discussed the 14th Five-Year plan for 2021-2025 as well as the long-term development vision for 2035.

©2020 Bloomberg L.P.

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