LINE

Text:AAAPrint
ECNS Wire

China to become high-income country by 2025: top economist

1
2018-04-10 11:28Ecns.cn Editor: Mo Hong'e ECNS App Download
The ongoing Boao Forum for Asia annual conference is held in Boao, Hainan Province. (Photo/China News Service)

The ongoing Boao Forum for Asia annual conference is held in Boao, Hainan Province. (Photo/China News Service)

(ECNS) -- China can sustain an annual average growth rate of 6 percent in the following 10 years and ascend to the high-income stage by 2025, said Justin Lin Yifu, honorary dean of the National School of Development at Peking University, on Monday.

At the Boao Forum for Asia annual conference, Lin said China will be the third economy since World War II to rise from a low-income stage to high-income one. [Special coverage]

South Korea and China's Taiwan island are the two economies to have completed such leapfrog development.

Lin said that by 2025 nearly 39 percent of the world's population will live in high-income economies. He projected China to become the world's largest economy in 2030, even taking into consideration exchange-rate factors. By then, China's contribution to the world economy will account for over 30 percent, according to the economist.

He said that China's average GDP growth of 9.5 percent from 1978 to 2017, and an average of 14.8 percent annual trade growth, is remarkable progress and an indicator of China's opening up.

China is now well on a new development path to build itself into a modern, advanced country and can deliver an annual 6 percent growth in the next ten years, said Lin.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.