China’s Communist Party: 2020 GDP to exceed 100 trillion yuan

Dhwani Mehta FXStreet

China's 2020 GDP is expected to exceed 100 trillion yuan, the country’s Communist Party (CCP) said in a communique following the conclusion of its 5th Plenum, which is focused on the next Five-Year Plan and 2035 vision.

Additional takeaways (Source: Xinhua News Agency)

China's development faces both new opportunities and challenges.

International environment becomes more complex.

Will sustain healthy economic development in 2021-2025.

Will take new steps in reforms and opening up.

Will make major breakthrough in reforms of property rights and allow market to allocate key factors.

Will make technology self-sufficiency as strategic support for national development.

Will promote 'dual circulation' model.

Will combine efforts to expand domestic demand with supply-side reforms.

China aims to boost per capita GDP to level of moderately-developed countries by 2035.

Will make market play a decisive role in resources allocation.

Will deepen reforms in all aspects.

Will promote coordinated regional development and new urbanisation.

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Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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