latest proposals for the country\u2019s next five-year plan<\/a> \u2013 unveiled by the Communist Party\u2019s Central Committee last month \u2013 do not specify benchmarks for average annual gross domestic product growth between 2026 and 2030, saying instead that the aim is to \u201cmaintain growth at a reasonable level\u201d, echoing the phrasing of the current plan, the country\u2019s 14th.<\/p>\nHowever, in an explanatory book released last week that offers a detailed interpretation of the proposals, party authorities revealed the growth rate they calculated would enable China to become a \u201cmoderately developed country\u201d in terms of per capita GDP by 2035, a goal first articulated in 2020 with the proposals for the 14th plan.<\/p>\n
At the time of its introduction, the criteria for what constituted a \u201cmoderately developed\u201d country lacked an existing global benchmark. Now, the book said, a clearer standard will help \u201cscientifically set\u201d future growth targets.<\/p>\n
The publication, an official study guide for the party committee\u2019s proposal document, said current consensus is that the per capita GDP threshold should be set at around US$20,000, because the 39 economies classified as \u201cdeveloped\u201d by the International Monetary Fund in 2020 generally had levels above that at the time.<\/p>\n
Based on this US$20,000 figure \u2013 around twice China\u2019s per capita GDP in 2020 \u2013 and considering that the country\u2019s population is expected to decrease by about 0.2 per cent a year for the next decade, the book said China\u2019s GDP needs to grow at an average annual rate of 4.17 per cent to reach that level by 2035.<\/p>\n","protected":false},"excerpt":{"rendered":"With China\u2019s population expected to shrink over the next decade, an official publication has said an average annual…\n","protected":false},"author":2,"featured_media":116963,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[75069,75070,5560,114,58724,1657,18551,184,32673,3153,14293,3387,85,75071,46,75072,75073,61693,75074],"class_list":["post-116962","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-2026-to-2030","tag-75070","tag-beijing","tag-business","tag-central-committee","tag-china","tag-communist-party","tag-economy","tag-five-year-plan","tag-gdp","tag-gdp-growth","tag-gross-domestic-product","tag-il","tag-income-level","tag-israel","tag-moderately-developed-country","tag-per-capita-gdp","tag-population","tag-shrinking"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/116962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=116962"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/116962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/116963"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=116962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=116962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=116962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}