Chinese President Xi Jinping said the economy can double in size by 2035 and the country can reach high-income status in the next five years as the Communist Party outlined ambitious plans for the nation’s future.
"It is entirely possible to reach the high-income country status by current standards by the end of the 14th Five-Year Plan, and to double the total economic output or per capita income by 2035,” Xi said in a speech to the party’s Central Committee, according to state media Xinhua.
The Communist Party’s top decision makers released a broad framework for a five-year economic plan and 15-year vision last week, focusing on self-reliance in technology, boosting domestic consumption and pursuing quality growth over speed.