China’s economy ‘set to reach US$13.7 trillion by end of the year’
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China’s economy is expected to have grown to 90 trillion yuan (US$13.7 trillion) this year, said senior economic officials on Saturday.
Han Wenxiu, deputy director of the Office of the Central Financial and Economic Affairs Commission, a top economic decision-making group, said at an economic forum in Beijing that China’s economic growth and income growth were rising steadily.
“China’s GDP is expected to reach 90 trillion yuan in 2018 … or US$9,900 in GDP per capita,” Han said.
Ning Jizhe, vice director of the National Development and Reform Development,told the same forum that China’s GDP growth may hit its 6.5 per cent target this year, rising from 82.7 trillion yuan last year.
“There is another important indicator, which is the population of the middle-income group,” said Ning, according to a transcript posted on ifeng,com.
“It will exceed 400 million this year, which is exactly the foundation for China’s economic transformation.”